By BENOÎT FAUCON
The rial has shed about 25% of its value against the dollar this month amid mounting sanctions aimed at halting Iran’s nuclear program. The sudden decline in the rial last week, the latest leg in a yearlong decline, prompted Tehran’s first major riots in two years and a crackdown on informal money changers. The situation appeared to have stabilized Saturday as Tehran’s bazaar—a key indicator of Iran’s business climate—reopened after closing for the second half of last week. But in an indication the turmoil may not be over, many money changers refused to trade Sunday, either out of fear of arrest or because of a refusal to comply with a government order imposing a fixed dollar rate……
via Iran Lawmakers Press Ahmadinejad on Economy – WSJ.com.
Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters.
Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.
Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.
He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.