Forex & Stocks: Capitalize on BRICS2023

24. Aug. 2023

Hi Traders, Investors and Speculators of Charts 📈💰

The 15th BRICS summit is being held in South Africa from August 22-24, 2023 and will undoubtedly affect the Forex market. The main reason for this, is the commonly know agenda of BRICS to implement a new reserve currency instead of the USD. More details on that topic here:

The 5 Forex markets we'll consider are: USDINR USDCNH USDRUB USDBRL USDZAR
As we can clearly see from the charts, from a Cycle / Phase analysis, it is dire time for the USD to correct as we see top outs in basically all of the charts Don't be surprised if it goes UP first, then down (sell the news but in reverse for the BRICS currencies).

The summit is being hosted by South Africa, which is the current chair of BRICS. The other members of BRICS are Brazil, Russia, India, and China.

The summit is expected to focus on the war in Ukraine, the global economy, and the expansion of BRICS. The theme of the summit is "BRICS and Africa: Intra-BRICS cooperation for sustainable development in Africa".
Russia's President Vladimir Putin is not attending the summit in person due to the international arrest warrant issued against him for alleged war crimes in Ukraine. He is being represented by Foreign Minister Sergei Lavrov.

The summit is expected to boost investor confidence in the BRICS economies. This is because the summit will provide an opportunity for the BRICS leaders to discuss ways to strengthen their economic cooperation and coordination. This could lead to increased investment in the BRICS economies, which would boost their growth prospects.

Top Stocks to consider are:
1. Petrobras (PBR) is the largest oil and gas company in Brazil. PBR
2. Sberbank (SBER) is the largest bank in Russia. SBER
3. State Bank of India (SBI) is the largest bank in India. SBIN
4. China Mobile (CHL) is the largest mobile phone company in China. MIL:CHL
5. Tencent (TCEHY) is a Chinese multinational technology conglomerate. TCEHY
6. Alibaba (BABA) is a Chinese multinational technology conglomerate. BABA
7. Vale (VALE) is a Brazilian multinational mining company. VALE
8. PetroChina (PTR) is the largest oil and gas company in China. 601857
9. ONGC (ONGC) is the largest oil and gas company in India. ONGC
10. Infosys (INFY) is an Indian multinational information technology company. INFY

The summit is also expected to lead to a weaker US dollar. This means that the other currencies against the dollar as listed on the 4 charts will strengthen. This is because the BRICS countries are collectively a major source of demand for commodities, such as oil and gold. If the summit leads to increased investment in the BRICS economies, it could lead to higher demand for commodities, which would put upward pressure on commodity prices and the value of currencies of commodity-exporting countries, such as the Brazilian real and the Russian ruble. This would make the US dollar less attractive to investors, which could lead to a weaker dollar.

A great way to capitalize on the outcome of BRCIS 2023, is to anticipate and keep an eye out on markets that will potentially be positively affected by this summit.


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CryptoCheck

26. Aug. 2023

Anmerkung

The main outcomes of the summit were:

- The admission of Argentina, Egypt, Iran, Saudi Arabia, and the United Arab Emirates into BRICS from next year. This is the first expansion of the bloc since 2010.

- Big oil nations joining BRICS are Saudi Arabia, Iran, and the United Arab Emirates (UAE). These countries are all major producers of oil and gas, and their membership in BRICS is seen as a way to strengthen the bloc's economic and political influence.

Saudi Arabia is the world's largest oil exporter, and the UAE is the sixth largest. Iran is the world's ninth largest oil producer. The combined oil production of these three countries is about 15% of the world's total.
The addition of these oil-rich countries to BRICS is likely to give the bloc more leverage in the global oil market. It could also help to stabilize the market, as BRICS countries could coordinate their production and pricing policies.

The membership of Saudi Arabia, Iran, and the UAE in BRICS is also seen as a sign of the bloc's growing geopolitical influence. These countries are all important players in the Middle East, and their membership in BRICS could help to strengthen the bloc's ties to the region.

- There will be an establishment of a BRICS Development Bank. The bank will provide financing for infrastructure and sustainable development projects in BRICS countries.

- The launch of a BRICS Plus initiative. This initiative will bring together BRICS countries with other emerging economies to discuss global issues.

- The adoption of a joint statement on the global economy. The statement called for enhanced cooperation to address the challenges facing the global economy, such as the COVID-19 pandemic, climate change, and food security.