Foreign trade volume exceeds $ 72 billion in 10 months of last year despite anti-US economic and trade sanctions
Tehran … News Time
Iranian Customs Managing Director Mir Ashrafi said foreign trade volume exceeded $ 72 billion in the last 10 months of last year, despite anti-US economic and trade sanctions. He said that volume includes $ 35.5 billion of exports and $ 36 billion of imports. Referring to the global activities of Iranian Customs, Mirashrafi said, “We have begun a global electronics swim experience with Turkey and Azerbaijan.
On the other hand, global markets fell after oil prices rose following the death of an Iranian military commander in the US airstrike, which made geopolitics top of the agenda for investors’ New Year. Brent crude oil increased 8.3 percent to $ 68 a barrel, which has taken the oil benchmark benchmark for its biggest gain since the drone attack on Saudi oil installations in September. The benchmark S&P 500 fell 6.0%, leaving the US stock market down, though well below the 1.1% decline in recent trade. An analysis of investors in the Middle East, in addition to tensions, showed that the US manufacturing sector declined last month. Stocks in Asia and Europe also fell, with Germany’s decks declining 5.1%.Elvin de Groot, head of the Macro Strategic department at Rabobank, said the risks of geopolitical politics still exist and are affecting them.
These risks have undoubtedly affected markets over the past few years, but perhaps the effect has been long-lasting. Nevertheless, geopolitical politics is important, but only because it can be an invasive factor for markets at any time. Assets are considered a haven during times of conflict. Gold price rose 3.1% to $ 1549 an ounce, the highest level in nearly 4 months, Government bonds increased profits, reducing yields on the 10-year US Treasury by 9.6 basis points to 8125.1 percent. Similar increases were seen in UK, Germany and other major government bonds. The Japanese yen, a classic bureaucrat of investors’ fear levels, also went up against the dollar, and the dollar was down 5.0 percent to 108 yen, the yen’s strongest point since late October. Emerging currency markets, such as the South African rand, have come under pressure, which once again reflects the panic of markets. The dollar jumped more than 1 percent to reach the 26.14 rand.
Olivier Jacob, managing director of the oil consultant Petromatrix, said the killing of Qasem Soleimani is alarming in geopolitical politics. He said that for many businessmen it was a holiday weekend. Many of them will shorten the duration of their holidays and convene an emergency risk meeting. Oil prices could reach more than $ 70 a barrel soon, analysts at Citibank say however, he added that work could be down to 2020, with the possibility that Iran and the United States could find common goals for a new deal to be executed. The White House explained its reason for the airstrike, saying that it had taken decisive defensive action to protect its personnel abroad by killing General Qasem Soleimani, the head of the Iranian-backed Iranian revolutionary revolution. The US blamed Iran for attacking the US embassy in Iraq and said General Qasem Soleimani was active in planning to attack US diplomats and service members in Iraq.
Iran’s Supreme Leader Ayatollah Ali Khamenei vows to avenge the death of General Qasem Soleimani; he said that the resistance movement will continue with double emotion. The long-term potential impact on markets depends on the nature of the revenge. Ian Shepherdson, chief economist at Pantheon Macroeconomics, said the wildcard is whether turmoil in the Middle East stimulates the sale of gold in equities, take the confidence of businessmen and consumers to the extent of frustration where labor market and inflation concerns become secondary. “We would be surprised, but if Iran takes more stringent action than we expect, it will become a real threat,” he said. Meanwhile, expect better performance on defensive stocks and currencies for currency protection shelters as the pressure on Treasury profits eases.
