Australian Dollar Weaker, US Dollar Rebounds

Wall Street JournalJul 18, 2013

SYDNEY–The Australian dollar was weaker in Asia on Thursday as the U.S dollar recovered from its losses after the U.S. central bank warned about economic outlook.

Markets: Dollar drop over?Business Spectator
Asian shares edge up; RBA minutes lift Australian dollarEconomic Times

Jester] HI CASTLE MODS, PEEPS, LURKERS, AND CRITTERS… HOPE EVERYONE IS HAVING A NICE EVENING…

[Jester] WHEW.. WHAT A NICE WELCOME.. THANK YOU..

[FLPatriot59] Jester Did Jack Lew have to purchase more bonds last weekend to cover the RV and those were entered into the system today and that systems are GO for launch?

 [Jester] FLPatriot59 HAVEN’T HEARD THAT ONE… LOL

triple777] Jester is third player in place today?

 [Jester] triple777 WELL WE HAVE BEEN TRYING TO FIGURE THAT ONE OUT

alin] Jester, any comment on Robertprofessor post about the banker?

[Jester] alin HAVEN’T SEEN IT… SORRY…
….
Read More Link on Right

[Robertprofessor] Jester Oh, just a little bank story. You know …

[Jester] Robertprofessor LOTS OF THOSE OUT THERE TODAY… AND SOME GOOD ONES… THE BANKS KNOW WHAT IS GOING ON AND THEY ARE TRYING TO TAKE ADVANTAGE OF IT WHEREVER THEY CAN…

[drl] Jestetr: Why would WF be willi.g to givr up yor business by not giving you the group rate if you exchangef a note at another institution?

 [sandytob] Robertprofessor quite a big bank story imo.

 [sananddan24] Jester any comments regarding Okie’s post?

 [Robertprofessor] Jester I’ve heard four of them this week.

 [sandytob] Jester Robertprofessor’s story is from WF and very exciting

[bigbear] Jester What is the progress on the process?????????????????????????????????????????????

[geoworld] Jester Are you gettin brain damage yet? Pete and Repete were sitting on a bridge they have been there 10 Years just talking. LOL

 [Jester] geoworld WELL… WE HAVE COME A LONG WAY… IT IS WHAT IT IS…

[Jester] sananddan24

[triple777] Jester have you spoken with Okie today,he posted earlier that the protocols had been initiated again and was hoping he could make announcement soon

[sananddan24] Jester any comments regarding Okie’s post?

[Jester] sananddan24 I AM IN AGREEMENT WITH IT… AND WHILE I AM AT IT I AM IN AGREEMENT WIHT WILEYMORGAN’S POST TOO… YOU ALL KNOW THAT…

 [sandytob] Jester Robertprofessor’s story is from WF and very exciting

[Jester] sandytob sandytob I AGREE… I HAVE HEARD SO MANY OF THEM THE PAST COUPLE DAYS IT WOULD MAKE YOU VERY HAPPY TO KNOW THEM ALL…

[sonnayhwh] Jester From what you know, is the “net” rate from WF still going to be higher than the street? Thx. Grin

[Jester] sonnayhwh YES… I BELEIVE THAT YOU WILL BE VERY HAPPY WITH THAT NEGOTIATION…

 [IvanTulafitov] Jester some gurus have suggested the shape of the earth is flat. What will happen when we get to the edge? Will we fall off? Who will guide us after our training wheels are off? :-)

[Jester] IvanTulafitov HOPEFULLY YOU HAVE BEEN PAYING ATTENTION AND ARE ALL READY TO GO!

[Frenchy] Jester Is the Flamboozy Rod in Line with the Doomaflauchy yet? Or Are we still waiting on the Thingamajig thingy? grin grin Couldn’t resist asking a NEW Question. Keeping my Sanity. LOL

Jester] Frenchy I COULDN’T RESIST ANSWERING THAT BECAUSE IT CRACKED ME UP… THINGS ARE LINING UP NICELY AT THIS POINT… LOL

[randyv] Jester When we get the email and make the call for our appointment, will we be able to find out the rate from the banker before we go in for the appointment?

Jester] randyv I KIND OF DOUBT IT… THEY WILL NOT WANT THAT SPREAD ALL OVER… GO TO YOUR APPOINTMENT AND IF YOU DON’T LIKE THE RATE THEN WALK AWAY… BUT I DON’T THINK YOU WILL…

[ttimmo01] Jester, do you no if the 800#’s are just for WF?

[Jester] ttimmo01 FOR THE GROUP RATE IT IS… THAT IS THE ONE YOU WANT THOUGH…

Nana] Jester, Tuesday I asked about the Fed Reg allowing banks to negotiate on options/reserves/layaways. You were going to do some checking . . . any word?

 [Jester] Nana I DON’T THINK THEY HAVE SPECIFIC RULES ABOUT THAT… YOU WILL HAVE TO MAKE ARRANGEMENTS WITH EACH DEALER ACCORDING TO THEIR INDIVUAL RULES…

[dinarrocks] Jester Is it possible that our “mystery person” is conveniently missing until the timing is right?

[Jester] dinarrocks IT IS A PROCESS… IT IS ALL ABOUT TIMING… THEY HAVE A SCHEDULE IN MIND… SIMPLE AS THAT…

[kelbell] Jester Jester Happy Birthday! Hope all your dreams and wishes come true :). Ty for all you do!

[Jester] kelbell ME TOO… THEN IT ALL WORKS OUT FOR EVERYONE…. LOL

[pokerbrat] Jester Post RV do I take the red pill or the blue pill?

[Jester] pokerbrat YOU ALREADY TOOK THE PILL MY FRIEND… YOU ARE ALREADY ON THE RIGHT TRACK…

[justincase] Jester – If the USD devalues (in Oct?), will the UST devalue as well? Also, what about coins? TY

Jester] justincase NO REASON TO BELEIVE THAT AT ALL.. I POSTED A LONG POST ABOUT FRN AND UST A COUPLE DAYS AGO THAT YOU SHOULD CATCH… THE ANSWER TO THAT IS THERE…

[gdsgrl21] Jester Are you going to miss us post CE??

 [Jester] gdsgrl21 NO REASON TO… YOU ALL KNOW WHERE I AM GOING TO BE… I HAVE YOU ON FB… SO WHY WOULD I HAVE TO MISS YOU?

[alin] Jester, while I was working today, I was thinking about something. Is the process you’re referring to have anything to do with the Republic? Is that why the Chinese are not signing off on anything until the Republic is set to go?

 [Jester] alin YOU WERE THINKING RIGHT…

[alin] Jester, that could take awhile, hopefully not, but knowing our politicians, not many want to give up power surges, even the ones that are placing an “R” at the end of their titles

 [geoworld] Jester Are you going to be a senior citizen tomorrow? Happy Birthday LOL

[Jester] geoworld SHEESH… I AM NOT THAT OLD… LOL

[bigbear] Jester So is the republic making any progress in thier process????????????????????

[Jester] bigbear ABSOLUTELY… THINGS ARE MOVING ALONG THERE AS WELL…

 [sandytob] Jester So, just to be clear….we are now waiting on announcements about the Republic before we can see the RV?

Jester] sandytob YOU HAVEN’T SEEN ANY? HMMMM…

[siskhyder] Jester. R the banks in the know as for the release timing of the Rv?

[Jester] siskhyder THEY KNOW SOMETHING IS HAPPENING… THEY KNOW IT IS CLOSE… THEY ARE TRYING TO MAKE DEALS UNDER THE RADAR RIGHT NOW IN PREPARATION FOR IT… WHY DO YOU THINK ALL THIS SMOKE IS OUT HERE… DO NOT GET SUCKED INTO ONE OF THE DEALS AND RICK LOSING THE BIGGER PAYOUT…

At the end of this month, Martin Kobler will finish his two-year term as United Nations Secretary-General Ban Ki-moon’s Special Representative for Iraq, and Head of the United Nations Assistance Mission for Iraq (UNAMI).
While his tenure has not been without controversy — he has,*for example, been strongly criticised by some for his handling of the situations at Camp Ashraf and Camp Hurriya — few would argue with this comment from his address to the United Nations Security Council earlier this week:
The country can continue to make important strides in deepening the roots of democracy, pursuing reform, embracing diversity, as well as improving its stature in the international community. Or, Iraq can go down a dangerous path, potholed with political impasse and sectarian violence at each turn, leading to increased instability.
In his closing remarks, he highlighted four principles that he deemed important at this time:

  • First, the Constitution should be upheld and implemented in full;
  • Second, Iraq’s resources should be utilized efficiently and distributed equitably;
  • Third, the environment should be protected; and,
  • Fourth, the Government should scale up and implement a national policy on women while helping young Iraqis shape their own futures in the land of their birth.

Mr Kobler is moving on to head the United Nations Organization Stabilization Mission in the Democratic Republic of Congo (MONUSCO), and Iraq Business News would like to take this opportunity to wish him well in his new post.

Source: Iraq-BusinessNews.com.

Post your commentary below.

At the end of this month, Martin Kobler will finish his two-year term as United Nations Secretary-General Ban Ki-moon’s Special Representative for Iraq, and Head of the United Nations Assistance Mission for Iraq (UNAMI).

While his tenure has not been without controversy — he has, for example, been strongly criticised by some for his handling of the situations at Camp Ashraf and Camp Hurriya — few would argue with this comment from his address to the United Nations Security Council earlier this week:

The country can continue to make important strides in deepening the roots of democracy, pursuing reform, embracing diversity, as well as improving its stature in the international community. Or, Iraq can go down a dangerous path, potholed with political impasse and sectarian violence at each turn, leading to increased instability.

In his closing remarks, he highlighted four principles that he deemed important at this time:

  • First, the Constitution should be upheld and implemented in full;
  • Second, Iraq’s resources should be utilized efficiently and distributed equitably;
  • Third, the environment should be protected; and,
  • Fourth, the Government should scale up and implement a national policy on women while helping young Iraqis shape their own futures in the land of their birth.

Mr Kobler is moving on to head the United Nations Organization Stabilization Mission in the Democratic Republic of Congo (MONUSCO), and Iraq Business News would like to take this opportunity to wish him well in his new post.

Update and info about significant things relating to the RV of the IQD, from Sam G

Our watch date of July 9 was the first day of Ramadan and it turned out to be the date that the FDIC officially implemented Basel III requirements on US banks. I also read that July 1 was the effective date of Basel III as far as the Fed was concerned, but I don’t have confirmation of that.

Reports say that on July 15 the Iraqi Stock Exchange (ISX) linked to the NASDAQ in America for the first time, so that people in Baghdad’s “Green Zone” could trade in America and, presumably, the other way around as well. It was open for only two hours, they say. The ISX opened in 2004 but was limited to internal trading with Iraqi businesses. It was done with chalk on blackboards, and even now, trading is limited to 4 hours a day, 3 days a week.

They went electronic back in 2009, but were still unable to link up with international exchanges. Since the UN allowed Iraq out of Chapter VII and placed them in Chapter VI, Iraq is now able to do international trading. So, our watch date of July 15 was a very important milestone for Iraq. The next dates to watch would be Friday, July 19th, and Monday, July 22nd. If the revaluation does not occur on either of those dates, it will likely be at least September.

US dollar up after Fed chief's comments

Courier Mail7 hours ago

THE US dollar has pushed higher against the euro even as bond yields fell after the Federal Reserve chairman said interest rates would stay low even if stimulus is trimmed.

Rupee leads falls in Asia FX after Bernanke commentsReuters India
Dollar rises after Bernanke comments, seen staying firmReuters UK

Baghdad (IraqiNews.com) The Economy and Investment Parliamentary Committee demanded the Central Bank of Iraq to maintain the price of the Iraqi dinar in exchange of foreign currencies.

The Secretary of the Committee, Mahma Khalil, told IraqiNews.com ”The CBI is obliged to preserve the price of the IQD in return of foreign currencies since the currency of the State represents its economic identity at the political arena.”

”The price of the IQD totally depends on the CBI policy whose task is to preserve the price of IQD which was built basically on the price of oil barrels,” he added.

“The Secretary of the Committee attributed the vacillation in IQD price to its association with the Iraqi political fluctuations and the security situation which holds off investment opportunities,” he concluded.

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