It seems that the fundamental floor of the dollar rate is 26,900 tomans. In other words, in the short term, no matter how much the dollar rate decreases, when it approaches this number, it will face a very heavy resistance. The fundamental floor of the dollar rate is accompanied by margins. Some believe the dollar will rise. Some consider the dollar to be twice its intrinsic value.
In the current situation, we are witnessing rapid fluctuations in the foreign exchange market, especially the dollar. This trend is likely to continue until election day. The price of the dollar these days is affected by the rate of dollar remittances. The most important and key factor is the scattered news of the negotiation process.
A capital market analyst has said that in recent days, new sources of finance have shifted from brokerages and fixed-income funds to buying stocks, and that the market's uptrend has begun logically. Capital market news has reacted positively to recent election news.
China's steel market transactions have been affected by the government's relatively long holiday this week, environmental factors and price controls. Together, these factors have exacerbated the rise in prices in the coming days. It remains to be seen in the coming days where the price trend in the rebar and billet sector will go?
Currency market developments in Iran affected by elections and other factors affecting daily prices have been accompanied by a general downward trend. Of course, we are witnessing significant fluctuations in the daylight. But for now, the market has not reacted much to the election.
The domestic steel market has overshadowed all markets. The rise in steel prices since the beginning of this year has overshadowed the pricing trend in many consumer goods markets. Continuation of this trend along with the monopoly in the production of home appliances can stabilize the growing path of their prices.
The Tehran Stock Exchange index on Tuesday revived hopes in the hearts of shareholders with a forward movement. In this regard, the Metal Exchange and Commodity Exchange also showed positive jumps. The total stock index yesterday, after a consecutive week of decline, finally became positive with 9756 units.
Recently, there have been reports in the news agencies that some of the sanctions have been lifted. We looked at this from official international news outlets and concluded that the lifting of sanctions has a relatively long way to go, and analysis journals have announced different times to reach an agreement. In the current situation, the margins should not be encouraged.
The domestic steel market in all areas today was quite calm and accompanied by a relative recession. Of course, we saw an increase in demand in Mobarakeh Steel transactions. The market does not have a clear roadmap and the multiplicity of key economic factors such as exchange rate fluctuations and Borjami news has caused transactions to reach their minimum level since the beginning of this year
The stock market, after the growth of the index and reaching the limit of two million and the beginning of the decline of the index, has practically entered an erosion process and generally decreases. This market has fallen into this day due to the lack of a principled and stable support policy, to the point that we have witnessed a drop in the index to the level of one million and one hundred and thirteen thousand units. If this support is broken, the index is likely to fall below one million.
Recently, the Iranian car market has been marginalized due to rising prices amid falling dollar prices. Some have criticized the fact that the price of cars has risen with the rise of the dollar under the pretext of supplying spare parts. But in the current situation and with the fall in the price of the dollar, carmakers have announced that the final price of their products has nothing to do with the exchange rate.