The price of imported billets in Egypt has decreased with the offer price, while the price of rebar in the domestic market has increased.
The US dollar index recovered to 93.62 on Monday, recovering slightly from its value lost in recent weeks and rising 0.2 percent. One of the main reasons for the dollar's rise was the release of promising US economic data last week, including a drop in the US unemployment rate to 10.2 percent. The US national currency was able to record a positive weekly return last week after six consecutive weeks of decline against a basket of five major world currencies.Following the failure of negotiations between White House officials and the Democratic Speaker of the US House of Representatives, the main focus of the markets is now on trade negotiations and the future of the US-China trade war. Over the past few months, the price of gold and ounces has moved almost in the opposite direction, but if the level of tensions between Beijing and Washington increases, it is possible that the dollar can return to the upward path as a safe haven for assets.
Over the past week, the price of an ounce of gold has risen significantly by 3 percent, with the value of this safe haven rising for a moment on Friday to $ 2089, a record high for gold. While the value of gold could easily gain a foothold in the current global economic climate above $ 2,000, analysts believe that gold could easily cross the $ 2,100 mark.
Many analysts saw the devaluation of the dollar in favor of global trade and ultimately in favor of the global economy. The US dollar index has fallen more than 9 percent since April, and experts expect the value of the world's most important economy to fall by 15 to 20 percent over the next five years. However, a group of analysts believe that the devaluation of the dollar could be a major threat to the global economy, at least in the short term. Contrary to the depreciation of the dollar against the currencies of developed economies, the value of the dollar has risen against the currencies of developing economies and emerging markets since the beginning of the corona outbreak. This issue, which analysts and various institutions, including the International Monetary Fund, can pose a major threat to international trade and the global economy.
According to the ounce price trend on Friday, gold, after 9 consecutive weeks of rising, left last week behind the price drop. The global ounce, which had risen for nine consecutive weeks and during which it was able to break its record high of $ 1921 and enter its third millennium with great strength, last week faced a negative correction of a negative price of 4.29 percent.
Although the proposal has been approved in its entirety, its executive features have met with serious parliamentary resistance. The reasons for the parliament's resistance to this method of financing are the lack of guarantee of the people's initial investment principle, the postponement of the financial commitment to the next government and the creation of new debt beyond the ceiling set by law Although these criticisms seem reasonable in the context of parallel standard oil futures, these concerns will be addressed if commodity exchanges are used in the energy exchange, and the possibility of physical delivery of crude oil, definition of futures, and presence of refineries in crude oil trading will be addressed. Was. The establishment of this fund means the creation of the largest market for trading oil securities in the national currency in Asia, and after the Shanghai Energy Exchange, it will be ranked second on the Old Continent.
The governor of the central bank introduced four healthy options for financing the budget deficit: "reducing financial costs", "increasing tax revenues", "selling government shares and property" and "issuing bonds or pre-selling goods such as oil".Abdul Nasser Hemmati's remarks show that the first three options face limitations; Because the capacity to increase tax revenue and reduce spending for the government and parliament in the shadow of the corona is limited, the issuance of bonds is being pursued despite obstacles. But from the point of view of the monetary policymaker, the fourth option, known as the economic opening plan, has two advantages: first, it can manage inflation expectations, and second, it can bring more profit to bondholders at a lower cost than bonds. .Rejecting the hypothesis of indebtedness of future governments, the governor of the central bank stressed: "The issuance of any bonds is an tried and tested method for smoothing government spending and reducing economic fluctuations at the macroeconomic level." Yesterday, the President strongly defended the "economic opening".
Considering that the export prices of materials such as iron ore, concentrate and copper decreased by about 40% during the first quarter of this year and the prices of raw materials and minerals also decreased, it seems that our non-oil exports To be reduced to more than $ 30 billion by the end of the year.On the other hand, 80% of non-oil exports are done by state-owned companies that are state-owned and private and are connected to various foundations. Therefore, the private sector is responsible for only 20% of non-oil exports, and if this sector has not returned even 20% of the foreign exchange earned from exports, which is certainly not the case, about 8 to 10 billion dollars of foreign exchange has been returned to the country by the private sector. The return of this amount of currency can not be so effective in reducing non-oil exports.
Iran's exports to 15 neighboring countries show a 47% decrease in value and a 44% decrease in weight in the three months to June this year. The value of exports to 15 neighboring target markets in 12 countries has decreased compared to the same period last year, and the weight of exports has decreased in 10 countries. In total, the export of Iranian goods to 9 countries, both in terms of weight and value, has declined compared to the spring of last year, and we have witnessed an increase in the weight and value of exports in only two countries.
the volume of world trade in goods decreased by 0.1 percent this year, while the previous year, 2018, had decreased by 2.9 percent. According to the organization's definitions, trade in goods is measured by the average of imports and exports. On the basis of value, last year the trade flow experienced a significant decline of 3% and reached a level above 19 trillion (trillion) dollars, while in 2018 it experienced a growth of 10.2%.