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"The row over the dollar" .. Among the most prominent global events by the end of the day

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rocky
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"The row over the dollar" .. Among the most prominent global events by the end of the day

Post by rocky on Fri 26 Jan 2018, 3:37 am

"The row over the dollar" .. Among the most prominent global events by the end of the day






2018/01/26 01:56


(Encyclopedia of this Day News | Iraq News ) - directly: occupied disagreement about the strength or weakness of the US dollar aprominent position at the forefront of events to global markets by the end of the day Thursday, as the currency fell Alkhaddra to the lowest level in nearly 3 years before recovering slightly.


The pace of warnings of electronic currencies and the possibility of using them in illegal trade, as well as expectations of a rise in the price of gold metal to $ 1500 an ounce this year.


Other than the dollar 


The Green Paper has been negatively affected by comments that its weak value strengthens the US economy but has recovered with words from Donald Trump confirming it will become stronger.


 Encouraging currency weakness yesterday, US Treasury Secretary Stephen Munchin said he was confident of the strength of the dollar over the long term, noting that he did not care much about the weakness of the green card in the short term.



US President Donald Trump confirmed that the dollar will become stronger over time under his administration, saying he wants to see the dollar strong in the end, adding that Munchin's comments have been interpreted out of context.




Jacob Frenkel, chairman of JPMorgan, cautioned that currency war would destroy the world economy and demanded that it be stopped at all costs.


The US dollar recorded sharp losses on the back of the comments to make the euro top $ 1.25 before recovering after the comments of "Trump" and confirmed that the statements "Munchin" was interpreted incorrectly.


Events around the world


The head of the European Union's trade commission, Cecilia Malmström, criticized the United States' comments on the trade war as "irresponsible".


Unlike US immigrants between Republicans and Democrats, US President Donald Trump has expressed his willingness to give young immigrants known as "dreamers" US citizenship if their criminal record is clean.



With regard to monetary policy in the euro area, the ECB has decided to keep interest rates at their current rates unchanged and keep its bond purchases worth 30 billion euros until the end of September 2018 or later as necessary.


Global stock markets



US indices were able to record highs at the close of today's session, despite the decline in most of the stock exchanges around the world.


US stocks rose at the close, with the Dow gaining 140 points to its highest close and S & P climbing to a record high as the business season continued.


European stock indexes fell at the end of the session, following Mario Draghi's comments on the euro zone's economic momentum and the euro's single-currency high of $ 1.25.


Japanese equity indexes continue to slide, with Nikkei down after losing 271 points as the yen continues to slide.


Important indicators


A number of key economic indicators dominated events throughout the day, ranging from US jobless claims to investor confidence in the German economy as well as inflation warnings in Venezuela.


New home sales in the US rose 8.3% last year to record 608,000 units, despite a sharp drop in sales in December.


Jobless claims in the United States rose 17,000 in the week ending January 20 to 233,000 versus 239,000.


Investors' confidence in Germany's economy rose this month as business valuations are now at a record high, according to data from the IFO Index.


In Venezuela, the International Monetary Fund (IMF) predicted an acceleration in inflation in the country, with prices rising 1300% this year, five times higher than previously estimated. Venezuela's economy will suffer a 15% contraction.


Demands to control electronic currencies


E-currencies face major challenges from governments around the world calling for legislation to be used for fear of being exploited in crime-related areas.


British Prime Minister Theresa May has vowed to consider action against Pitcairn after growing concerns over the use of electronic currency for illegal activities.


At the same time, the President of the Central Bank of Canada, "Stephen Blues" that he is looking for legislation to regulate the circulation of electronic currency, explaining that the trades Betcquin is a "gamble" and not assets.


JPMorgan believes that the currency of the "Betcquin" is not supported and anonymous, stressing that the default currency is not the bauxite.




Ripple, which is responsible for the sale of the electronic currency, said it had sold $ 91.6 million worth of currency in the fourth quarter of 2017 compared to $ 2.28 million in the same period in 2016.


Expectations and statements affecting the market of commodities and minerals


With the US currency falling, gold managed to gain but oil failed to maintain its $ 66 gain, slipping down on comments supporting the dollar.


 Gold rose at the end of the session to its highest level since August 2016, supported by a decline in the US dollar.




A report by a Reuters research firm said the price of gold would rise to $ 1,500 an ounce this year, supporting downside risks in the stock market and political instability.




The price of oil has been reduced by the US President's comments on the dollar and it will become stronger, with US Nymex ending higher than $ 65.




US Energy Information Administration data showed that oil production in the United States reached 9.88 million barrels per day in the week ending Jan. 19, approaching the highest level ever recorded at 10 million barrels per day.


In terms of natural gas, US stocks fell during the week ending January 19 by 288 billion cubic feet against expectations of 270 billion cubic feet.


Note: The content entitled "The Controversy on the Dollar" is one of the most important international events at the end of the day. 
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    Current date/time is Sat 17 Nov 2018, 1:09 am