US dollar steady before Trump speech, yen weakens

THE BUSINESS TIMES2 hours ago

[NEW YORK] The US dollar was steady against a basket of currencies on Monday ahead of a busy week that will include a speech by US President Donald Trump on the economy and numerous comments from Federal Reserve officials.

Dollar steady on US stimulus hopes, Trump's speech awaitedReuters UK
US Dollar Moves on Fiscal Outlook, Is China Manipulating Yuan?Thinking Australia News

US dollar steady before Trump speech, yen weakens

THE BUSINESS TIMES2 hours ago

[NEW YORK] The US dollar was steady against a basket of currencies on Monday ahead of a busy week that will include a speech by US President Donald Trump on the economy and numerous comments from Federal Reserve officials.

Dollar steady on US stimulus hopes, Trump's speech awaitedReuters UK
US Dollar Moves on Fiscal Outlook, Is China Manipulating Yuan?Thinking Australia News

Bullion prices table published Central golden week and raise their prices

27 February 2017




The Iraqi Central Bank, published Monday, a gold bullion prices this week, raising the price of all bullion, gold coins week display weight 15 g for sale after an interruption for a period of more than a month.

Table 5 g coin that hit 250 000 000 dinars up from last week, while the price of bullion weighs 15 g 741 000 higher seven thousand dinars.

Table explained that the price of alloy 25 GM 1.254 million dinars amounted in high 11 000, 50 g ingot price 2.511 million dinars up 22 thousand dinars.

Below is a schedule of prices of coins and gold bars for this week:



http://www.alsumaria.tv/news/196466/…D9%88%D8%B9/ar

US dollar steadies as investors eye Trump speech

THE BUSINESS TIMES8 hours ago

[LONDON] The US dollar edged up from a 2-1/2-week low against the yen on Monday but struggled to gain traction more broadly, as investors awaited a speech this week by US President Trump for clues on his economic agenda.

US Dollar Moves on Fiscal Outlook, Is China Manipulating Yuan?Thinking Australia News
Dollar edges up as market awaits details on Trump's tax plansHindu Business Line

By Ahmed Mousa Jiyad.

Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.

Oil Export, OPEC Cut Effects and Budget Implications

Monthly data during the first half of this year are important for Iraq for two main reasons: they reveals the test of OPEC-cuts and how Iraq is actually comply with and affected by them; and the second is the budgetary implications as far as its main thresholds: oil exports, oil prices, oil revenues and KRG oil delivery commitments.

While international business, banking and financial entities, energy consulting firms, media sources among other began a wave of reporting, estimating, speculating reports on these issues, nothing of substance on these issue came from the Ministry/Minister of Oil until SOMO released today its January export data.

As it is known, SOMO monthly reports are released, since 2008, and focuses mainly on oil export volume, oil revenues and average oil price. But such monthly report does not cover oil production and does not cover KRG production and exports; and since the Ministry has imposed anti-transparency environment by terminating the publication of data on oil production and its allocation since September 2016, I used reputable international sources to acquire the missing data.

This brief intervention has three parts:

  1. First part provides assessment of oil export performance for 2016 and concluding that due to lower oil prices and oil exports had resulted in more than 26% deficit in the budgeted oil export revenues.
  2. The second focuses on January oil export and its implication for budget 2017; concludes that first month of OPEC accord worked contrary to Iraq’s interest and, thus, warns against any call based on non-consolidated improvement of oil prices while ignoring the whole picture.
  3. The third part assesses Iraq compliance with OPEC cut of November 2016 through different sources of estimation and raises the possibility missing significant volume of oil produced during January.

Finally, the paper concludes by requesting the Ministry/Minister of Oil to clarify any ambiguities by making full, accurate and transparent disclosure of data and give convincing explanation; and stands against unjustified early revision of the state budget.

Please click here to download Ahmed Mousa Jiyad’s full report.

Mr Jiyad is an independent development consultant, scholar and Associate with Centre for Global Energy Studies (CGES), London. He was formerly a senior economist with the Iraq National Oil Company and Iraq’s Ministry of Oil, Chief Expert for the Council of Ministers, Director at the Ministry of Trade, and International Specialist with UN organizations in Uganda, Sudan and Jordan. He is now based in Norway (Email: mou-jiya@online.no, Skype ID: Ahmed Mousa Jiyad). Read more of Mr Jiyad’s biography here.

From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News.

Iraqi forces battled jihadists in west Mosul Sunday, aiming to build a floating bridge across the Tigris to establish an important supply route linked to the recaptured east bank:

US dollar steadies as investors eye Trump speech

THE BUSINESS TIMES2 hours ago

[LONDON] The US dollar edged up from a 2-1/2-week low against the yen on Monday but struggled to gain traction more broadly, as investors awaited a speech this week by US President Trump for clues on his economic agenda.

Dollar edges up as market awaits details on Trump's tax plansHindu Business Line