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What is Fundamental Analysis




Introduction to the Fundamental Analysis

There are two main approaches to analysis the market during trading sessions, and both are popular among traders. One is called Technical Analysis, and predicts changes in the market based on past occurrences, market tendencies and behavior.
Fxkinfin strives to ensure that all our traders are well equipped to take on the markets in confidence, with the trading educational guidance to assist you in better understanding trading and the markets. Let’s take a deeper look into Fundamental Analysis:
What is Fundamental Analysis?
When doing fundamental analysis, a trader studies the overall state of the economy, concentrating mainly on elements closely related to his trade. The research focuses on financial events including those that are remotely related but yet could affect the trade. Political, social and general events can all have a significant influence on the markets.
Why Choosing Fundamental Analysis?
This type of analysis is for traders who wish to dig deeper into the financial world. It takes a little more time than some traders are willing and able to invest, but should have positive outcomes if done properly. What stands behind any type of analysis is the wish to avoid surprises that might jeopardize the trader’s money. Therefore the deeper the research and analysis, the lower the chances to be taken by surprise. Some of the world’s top traders, who regularly appear on top rich lists employ fundamental analysis. This is defiantly a good track to follow.

We must emphasize that even when conducting a thorough fundamental analysis, there is no guarantee the trade will be successful. The nature of trading any instrument is its relationship to external factors that can impact it, and the fact that the market can dramatically change within minutes, flipping our speculations and changing the fate of our trades.

What is the importance of Fundamental Analysis?
An example that displays the importance of fundamental analysis can be found with the monthly US unemployed report, called the Non-Farm Payroll (NFP). The NFP usually affects the USD rate, which may lead to changes in the value of other instruments, such as Gold trading, Crude oil trading and others. Before the NFP is announced by the Bureau of Labor Statistics, traders speculate on the content of the declaration, and based on that . This is called fundamental analysis.

Common Economic Indicators Used in Fundamental Analysis:
  • Unemployment rate
  • Interest rates
  • New building permits
  • Federal funds rate
  • Changes in the Gross Domestic Product (GDP)
  • Income/Wages
  • Consumer Price Index (Inflation)
  • Currency Strength
  • Corporate Profits
  • Balance of Trade
Fundamental Analysis Tips
To begin employing fundamental analysis, every trader should find a number of informative sources, which will provide him/her with knowledge that will help with fundamental analysis, thus assisting and improving his trades. We invite you to check out our blog, which updates on a daily basis with crucial data relevant to all instruments.
The Basics of Fundamental Analysis
Many investors believe that fundamental analysis is an important component of almost any trading or investing strategy.

These are some factors to consider when conducting fundamental analysis:
  • What is the company’s revenue?

  • Is it growing?
  • Are they making a profit?
  • Are they increasing indebtedness or paying off debt?
  • What are their turnover rates?
  • Does management take care of employees?
All of this helps define a numerical intrinsic value for the security that can be compared with its current price so as to determine whether or not it is overvalued or undervalued.

What is the Difference Between Fundamental Analysis and Technical Analysis?
Fundamental Analysis is often (mistakenly) directly contrasted with Technical Analysis.

Many technical analysts say there is no need to mine corporate and economic data to determine a company’s value, because everything they need to know is already reflected in the price. Instead, they use a variety of methods to predict where price will go in the future. They may look at price volatility as measured by the strength and duration of a movement away from a previous level. They might apply a formula such as MACD, Bollinger Bands, or simply analysis of the moving average price over time. Online Trading Academy’s patented Core Strategy is a type of technical analysis that teaches how to identify supply and demand levels and then predict turning points in the direction of a security or the market as a whole.

Another common misconception is that fundamental and technical analysis are in competition and an investor must make a choice between them. In fact, when used properly, both can be useful tools for the investor.

Components of Fundamental Analysis
Fundamental analysis consists of three main parts:
  • Economic analysis

  • Industry analysis
  • Company analysis
Fundamental analysis is an extremely comprehensive approach that requires a deep knowledge of accounting, finance, and economics. For instance, fundamental analysis requires the ability to read financial statements, an understanding of macroeconomic factors, and knowledge of valuation techniques. It primarily relies on public data, such as a company’s historical earnings and profit margins, to project future growth.

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Kingsley Francis is the founder and Partner at Fxkinfin Financial Advocates, owners of He is a financial writer with extensive experience in print as well as online media.

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NatWest is telling customers to reduce their carbon footprint

NatWest is telling customers to reduce their carbon footprint, eat vegetarian, and stop drinking dairy milk after scanning their transaction data




NatWest UK Bank

BREAKING: UK bank NatWest is telling customers to reduce their carbon footprint, eat vegetarian, and stop drinking dairy milk after scanning their transaction data – Telegraph

Social credit score is coming…

NatWest UK Bank

Bitcoin is the exit.

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Binance has invested in a total of 22 protocols this year

Binance invested a total of 22 protocols this year. Binance launchpad. AI is developing three games. Binance token. Binance fud. Binance bnb, bnbchain.



Binance Token

Binance invested a total of 22 protocols this year.

These investments cover various sectors, including DeFi, Infrastructure, Gaming, L3s, and Interoperability.

Here’s a full list of them and how to find them.

Leaders in tokenized yield and RWAs.

Building infrastructure for applications SDKs based on ZKWasm virtual machine.

Helio Protocol is an open-source liquidity protocol built on the BNB Chain, offering borrowing and yield opportunities for a BNB-backed asset class known as “Destablecoins”

Curve is the largest stable swap and second-largest DEX, focusing on stableswaps, ensuring minimal fees and slippage.

Kinza is building the next-gen lending protocol on BNB Chain, focusing on real yield with a ve(3,3) tokenomics model.

AltLayer provides a user-friendly Rollups-as-a-Service dashboard built on top of its core network called Beacon Layer.

This dashboard enables the creation of customized rollups with fraud/zk proofs, ensuring high-speed performance.

Kilo is building a Perp DEX focusing on risk management and capital efficiency.

They offer lightning-fast trades and an intuitive experience with a wide range of trading pairs. LPs get risk-neutral positions and LP-friendly solutions.


Sleepless AI is a virtual companion game powered by AI technology. This gaming platform makes use of AIGC and LLMs to deliver:

  1. Immersive story-based gameplay.
  2. Dynamic interactions with characters.

Currently, the team behind Sleepless AI is developing three games. the first HIMAIBF, is an Otome game that allows players to have a virtual boyfriend.

Key features of HIM include:

  1. Unique SBT characters.
  2. Immutability and storage on the blockchain.

Radiant is building the first omnichain money market, allowing users to deposit and borrow across various chains.

A migration to Ethereum is in the works.

Xterio is a free-to-play game publisher combining traditional gaming with web3 to give users a rich experience.

Web3Go is building a data and intelligence network to expand visualization and collaborative analysis of on-chain data with their three products Analytix, Reiki, and Rye Alpha.

Neutron is a cross-chain Cosmwasm-enabled-contracting blockchain.

zkPass is a privacy-preserving decentralized identity verification solution for Web3. It utilizes MPC and ZKP technologies to securely validate private data without disclosure or upload.

Users can privately validate various data types in applications like decentralized identity passes, DeFi lending protocols, and healthcare data marketplaces.

DappOS simplifies the user experience with crypto infrastructures. It solves issues with web3 accounts and dApp workflows by providing a middle layer, automating workflow execution.

Bracket Labs is building leveraged structured products on-chain. They aim to enhance usability through simple interfaces and innovative, adaptive pricing.

Recently, Bracket Labs launched, a platform designed to assist traders in swiftly capitalizing on market volatility, regardless of whether the market is trending or moving sideways.

Kryptoskatt simplifies Web3 finance. It offers accounting, portfolio management, tax reporting, and expert assistance for global cryptocurrency users.

Fusionist is a blockchain gaming company that develops high-quality Web3 games and uses collectible NFTs.

Their scalable multi-gaming ecosystem, built on Unity, offers a trilogy of sci-fi games combining management simulation, tactical RPG, and strategic 4X genres.

Playbux has built an e-commerce metaverse platform on the BNB chain.

Users shop, earn cash back, and enjoy seamless integration of features like Shop & Earn, virtual communities, blockchain services, and DeFi platforms

A blockchain-based game developer that is an affiliate of South Korean casual mobile game publisher 111Percent.

PolyHedra is an infrastructure for Web3 Interoperability that integrates advanced ZK proof systems. It provides a range of infrastructure solutions, including:

  1. zkBridge: A solution for transferring assets between web2 and web3 systems.
  2. zkDID: A decentralized identity solution based on zero-knowledge proofs.
  3. ParaPlonk: A scalability solution that leverages a distributed proof generation network to enhance ZK rollups.
  4. Highly scalable middlewares, such as ZK-NFT containers, offer a design space for Web3 applications.

GOPAX is a reputable South Korean central exchange operated by Streamy Co., Ltd.

FilSwan has built one of the first L3s. It aims to simplify the integration of data, computing, storage, CDN, and payment for Web3 projects.

It offers a suite for web3 developers to seamlessly integrate decentralized storage, edge computing, and payment across multiple chains.

Here’s how you find this data.

Go to Tokenterminal

Select Fundraises

Sort by Lead Investors

Binance has invested

Binance has invested
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New Trader in 2023: Here are Top Things to Know Before Getting Started In Forex Journey

Top Things to Know Before Getting Started In Forex Journey: New Trader in 2023. Forex Trader, Trading Signals, Forex Trading Millionaire. EjikemeFund Signals. Forex Tips.



New Trader Forex Journey

New Trader Forex Journey

Forex trading, also known as foreign exchange or FX trading, is the conversion of one currency into another.

Forex Trading

What You Need to Know Before Getting Started:

People from all over the world use Forex to exchange different currencies for many different reasons, like buying goods from another country.

Forex trading is the process of buying and selling currencies on the foreign exchange market.

This market is the largest and most liquid financial market in the world, with trillions of dollars traded every day.

Forex New Trader Journey to Know in Trading

In forex trading, you’re buying and selling currency pairs.

A currency pair is simply two different currencies, such as the U.S. dollar and the Euro.

When you buy a currency pair, you’re essentially betting that the value of the first currency will rise relative to the second currency.


  • AUD Australian Dollar
  • CAD Canadian Dollar
  • CHF Swiss Franc
  • EUR Euro
  • GBP Great British Pound
  • JPY Japanese Yen
  • NZD New Zealand Dollar
  • USD United States Dollar

The first currency is called the Base currency

The second currency is called the Quote currency.

A common currency pair is EUR/USD, which means that you’re trading euros for U.S. dollars.

Most Traded Pairs in Forex Trading

Some examples of pairs are:

EUR/USD (euro/U.S. dollar)

USD/JPY (U.S. dollar/Japanese yen)

GBP/USD (British pound/U.S. dollar)

AUD/USD (Australian dollar/U.S. dollar)
Another example is GBP/JPY, which means you’re trading British pounds for Japanese yen.

Forex Currency Pairs Specific Names and What They are Called

  • The Dollar is sometimes called Greenback.
  • The Pound is called the Cable.
  • The New Zealand Dollar is called the Kiwi.
  • The Australian Dollar is called the Aussie.
  • The Canadian Dollar is called the Loonie.
  • Oil is referred to as the Black Gold.

In forex trading New Trader

we have two prices that make up a currency pair


The BID price is the price at which you can buy a currency pair

The ASK price is the price at which you can sell a currency pair.

Detail about how the BID and ASK prices work.

When you place a Buy order, you’re buying at the ask price,

when you place a Sell order, you’re selling at the bid price.

This means that the ask price is always higher than the bid price.

The difference between these two prices is called the spread, and it’s how brokers make money most learn New Trader.

What is a Forex Spread

SPREAD is the difference between the BID and ASK Price.

The spread is determined by a number of factors, including supply and demand, liquidity, and the broker’s fees.

Conversely, with low liquidity, the spread is usually wider, so it’s more difficult to make a profit.

Market Volatility

Volatility is the amount of fluctuation in the price of a currency pair.

The more volatile a currency pair is, the more difficult it is to make a profit.

Forex Leverage

Leverage is essentially borrowed money that traders use to increase their buying power.

One other thing we could include is the different types of forex orders.

  • Market Orders
  • Limit Orders
  • Stop loss Orders

Broker Margin Call

A margin call is when a trader’s account balance falls below a certain level.

The amount of money a trader needs to have in their account in order to make a trade.

Market PIP

PIP or (Percentage in point)

Pips are the smallest unit of change in the value of a currency pair.

Forex Lotsize for New Trader

LOTSIZE is the amount/quantity of a trade that you bought or sold.

It’s sometimes called your Position size/Trade size.

They are Basically 3 Types of Lotsize

  • Standard Lot
  • Mini Lot
  • Micro Lot

Conclusion on New Trader

A reminder that even the best strategy best knowledge in the world won’t work

If the trader doesn’t have the right mindset, discipline, and patience to learn. New Trader

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Analyzing Youtube Forex Millionaire Trading By BlaBlaFX The Truth About Raja Banks

YouTube Forex Millionaire Raja Banks. According to the history of his trades, we can see that there are trades for 20k, 50k, 100k, 200k profits. He owns a broker on which he trades on name Dominion Markets. Forex Millionaire



Forex Millionaire Raja Banks Dominion Markets

YouTube Forex Millionaire

Hello Forex Millionaire

I decided to write this post due to the fact that quite often on the forums people ask for an advice about trading education. I noticed that people regularly recommend YouTube channels. Including wicksdontlie, now called Raja Banks. Opinions on this channel differ. Some write that there are a lot of useful information there and a big advantage is that he shows the history of his trades. Others say that he is a scammer and the history of his trades does not mean anything, because he owns a broker on which he trades.
The channel has 164K subscribers and about 3k people are watching his live streams.

Having some experience in trading, I decided to watch few videos from this channel so as not to guess, but to have a clear idea of what is shown to people on this channel. I will only note those moments in which I see sufficient meaning, so everyone can draw clear conclusions for themselves.

What was taken as the basis for the analysis.

YouTube Watch on Forex Millionaire Raja Banks
In this video, he shows the history of his trades from April 1, 2021 to February 2022.

YouTube Watch on Forex Millionaire Raja Banks
History of his trades from January 1st to April 7th.

So we have data from April 1, 2021 to April 14, 2022. Data after April 7 was also taken from the streams.
With this information, we can compare the time at which he trades. Next, understand what results he has during the stream, and which are outside of it. Then, of course, all this was checked by opening the stream on YouTube and comparing the data.
Of course, the work is boring, there could be mistakes on my part, but I don’t think that they are very critical and they should not significantly affect the results.

YouTube Forex Millionaire

  • PnL

If you read the chat during the stream, everyone is delighted with the profit that Raja makes from his trading.
Total profit from April 1, 2021 to April 14, 2022 before commissions – 3 043 950.54 usd.

Only xauusd and gbpjpy commissions were taken into account, since that’s where the most of the trades are. Commissions from 1 lot xauusd 7 usd, from 1 lot gbpjpy 7 usd.
9 156.21 lots were traded on xauusd. 9 156.21 x 7 = 64 093.47 usd.
4 437.66 lots were traded on xauusd. 4 437.66 x 7 = 31 063.62 usd.
Net profit 3 043 950.54 – 64 093.47 – 31 063.62 = 2 948 793.45 usd.
The number is beautiful, but now let’s see what happens during the stream.
Profit before commissions – -56 313.68 usd.
Xauusd and gbpjpy traded 5 772.57 lots. 5 772.57 x 7 = $40 407.99 usd.
Total net profit -56 313.68 – 40 407.99 = -96 721.67 usd. 96k loss.

So, it turns out that when he trades in front of people and everyone can follow how he opens and closes his trades, he trades like the majority. He is losing money.
This is the same as if you want to learn how to play tennis, you find a video on YouTube where a person shows how cool he plays and that he is a pro, and when you meet on the court you will find out that he cannot hit the ball over the net. It’s the same here. He shows you huge profits, but when you come to the stream, you only see how he loses money.

Biggest winning trade

According to the history of his trades, we can see that there are trades for 20k, 50k, 100k, 200k profits… But what about trades during the stream? During the stream for more than 12 months, the 2 best trades were 11 650 usd and 10 525 usd. Trades in gold with a volume of 50 lots, which is generally nothing. All other trades are less than 10k profit, and this despite the fact that he trades volumes of 25, 50 and 100 lots… All this is due to the fact that he says that you need to take profit if the price goes in your direction, 10 pips and leave a runner.
If you trade according to this scheme, then you will never have big profitable trades, which, as a rule, generates the main profit. By the way, if you look at trades that he took outside the stream, then he did not trade according to such a scheme. He holds the entire position from beginning to an end. So why he is talking about taking profits during the stream? Perhaps I was lucky, but a couple of times I saw a situation that makes it clear why this is being done.

  • Close 10 pips an leave a runner.

I am not a supporter of closing a large part of the position and leaving a runner. I described the reason for this above, if you do this, then you will never get big profitable trades, and without them it is not so easy to trade in profit. But for the stream, such trades are very useful, because they increase the win rate and create the appearance of success. And they also allow you to manipulate information quite well. Here’s a great example…

YouTube Watch on Forex Millionaire
Position xauusd for 25 lots is open. On the chart there is an inscription that there was a trade for xauusd +20 pips. If we open a position of 25 lots and take 20 pips, then we will see a profit of 5 000 usd. Watch the stream at 58:22 and you will see that the profit was 2331.41 – 175.01 (commission) = 2 156.40 usd. If translated into pips, then this is 8.63. It is clear that in reality it can be 20 pips, but what is the point if most of the position is closed earlier, and this runner goes into profit, which in monetary terms does not make any sense. This is confusing. Let’s say next time he opens a position of 25 lots and takes a loss of 10 pips and writes xauusd -10 pips trade. It seems that he earned 20 pips on the first trade, and lost 10 pips on the second trade. 10 pips profit. But in reality +20 pips is 2 156.40 usd and -10 pips is -2 500 usd. In pips we have a profit, and in money we have a loss.

Magick keys

If you have watched a couple of streams, you would see that he does not use it himself, which is generally understandable. I would rate the benefit of this device below 0. It is much more convenient to open and close a position with a mouse click in the terminal, rather than grab some other device and start doing actions with it, you also need to charge it. And look at half of these buttons… zoom in, zoom out, stats, calculator… Who needs it? If only the buttons necessary for trading are left in this device, then only 3 of them will remain, and it is problematic to sell a device with 3 buttons…
Stackoverflow keyboard is clearly an exception.

So simple and free as Forex Millionaire Said

https://youtu. be/_N0pJZbRfyg?t=4320
Here we hear some guy called Uncle Ted telling how easy the gold trade is going to be right now. Gold is really falling, and he says that it is very simple and understandable. And all this is free for you. Everyone in the chat is delighted, they say what a great guy he is. The problem here is that there is nothing complicated just to say where the price will go. When you don’t take trades, there is no risk. If, let’s say, a gold trade went down a little and returned up, then you can always say that so far it was not necessary to enter the trade, but you need to wait for the confirmation. This is the problem with almost all streams, you are not shown trades in real time, everyone just draws some kind of lines and smartly tells how they earn and how simple everything is. And of course, one more question on this situation, if this is such a simple trade and it is easy to make money on it, then why Raja did not take it. It turns out that in words everything is simple, but on the stream we see a loss.

  • September 2021

An interesting month was September 2021
When there were no streams he took 12 trades, all 12 were profitable and the profit was about 502 000 usd. Win rate 100%. When he was trading live during the stream. 14 trades, 1 profitable and 13 losing trades. Win rate 7%. Loss – -60800 usd.

  • June 2022

Just look at the first half of June 2022, there are only losses on the stream, but there are thousands of dollars of profit outside the stream.

  • FOMC 15 june 2022

YouTube Watch on Forex Millionaire
It’s just a gamble. At the beginning of the day he lost 15k during the stream, then the first trades on the FOMC gave a loss of 37k, then gave a drawdown of 60k. It’s just luck that the price went up, if you think that this was a good trade, then you are still very far from successful trading. Interestingly, when he closes the profit on this trade, he says that when the first 2 trades were at a loss, he closed them with a minimal loss, but when these trades went into profit, he held them and therefore, at the end, he earned more than he lost. Unfortunately, he did not say that these trades just gave a drawdown of 60k and could easily go even lower.
And this catchphrase at 1:01:20 “If you guys would have copied exactly what i did, you would have been in profits today”.
Today yes, but what are the results since the beginning of the month during the streams?
June 1 – 0, June 3 – -28k, June 6 – +1.6k, June 8 – -4k, June 10 – -37k, June 13 – -9k, June 15 – +20k. Total in June -57k. Loss of 57 000 usd.
So if you guys would have copied him from June 1 2022 till June 15, you would have been at a huge loss.

Good Advice About Forex Millionaire

The most helpful advice you will hear on this stream is that you should limit your trading. Don’t overtrade.

https://youtu. be/BhN48b7S7RM?t=7513
Here he says that he finished for today, but if you look at trade history, you will see that he took another trade. Of course it was profitable. If he said that he is done for the day, then why is he trading? It looks like on the stream he tells you what you want to hear.

About this post on Forex Millionaire

I’m not a hater, I’m not jealous, I’m not writing this post out of malice. It’s just that people talk about how useful this channel is, in the chat everyone is delighted and happy, going to bootcamps. And I decided to take some time and figure it out, to see what useful information is provided on this stream. Everyone spends time differently, someone watches videos with cats, someone sits and watches how a person loses money during the stream, someone earns on the trust of people by deceiving them, but I decided to take the time and do this work, maybe someone will find it helpful.

Pros of this channel:
1. Gives you the opportunity to be part of the community for a fee.

Cons of this channel:
1. Doesn’t make money trading while streaming.
2. There is a very high chance that his results are fake. For more than 12 months, he has about 3 million usd in profits, but at the same time he has a loss of 100k during the streams.
3. 252 trades were made during the stream. Profitable 104 (average profit 2640 usd) 42% win rate, unprofitable 146 (average loss 2266 usd). Off the stream he took 239 trades, 182 (average profit 17 290 usd) 76% win rate, 57 (average loss 820 usd). I doubt very much that one person can have such discrepancies in the results.
4. Just imagine that last year of his trading on the stream cost him about 100k (because that amount was lost during the streams). Imagine that at the end of the year you calculate your balance. And you see that over the past year during the streams you have a loss of 100k. What are your thoughts? Great job, will do it next year…
5. Advertises useless magick keys. When he says that this thing will change your trading and that it is very difficult to trade without it, he is lying. This thing is useless. Do not buy it. It will not help you with your trading in any way, but only interferes.
6. Wastes your time. People watching this stream in the hope of getting valuable information, but unfortunately they are just wasting their time. The amount of useful information on this stream tends to be zero. You think this information is useful, because he tells you with a smart face simple and accessible information that you most likely know yourself. It’s just that you can’t trade profitable and you need this ray of hope. And you found it by watching the stream.

Conclusion on Forex Millionaire

Very sad. I don’t understand why people in the comments on the stream write that Raja is a GOAT. He is trading at a loss right in front of you, and you say that he is great. You will not learn how to trade by watching these streams. People who bought themselves a ticket to the bootcamp – if your goal is to be part of the community and show that you attended the forex bootcamp and becoming a Forex Millionaire, it is good. If your goal is to gain knowledge and increase the level of your trading, then you just threw away your money.
There are people on YouTube who trade in real time, showing their real results. Mostly stocks. But there are few views. Why? Because trading is hard and not very interesting, it’s much more fun to watch interesting content. The only bad thing is that you’re just wasting your time on some Forex Millionaire

Let’s End on a Good Note About Forex Millionaire

Is it possible to make money trading forex, stocks, etc. ? Yes it is possible. But it’s very hard. You can’t even imagine how hard it is.
Watch streams only with transparent results. But don’t watch them during trading time. During trading time you should watch the market. Forex Millionaire

Feel free to share this post. People that are watching this stream are just wasting their time. The sooner they realize it, the better for them.

What do you think? Do these streams really help someone? On Forex Millionaire

Take care. Have a nice day. And learn to listen to good Forex Millionaire

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BRICS to Officially Abandon US Dollar in 2023

BRICS summit arrived this week, with the entire world watching. brics meaning. brics countries. brics countries list 2023. brics countries list 2024




Brics News Week

The highly anticipated BRICS summit arrived this week, with the entire world watching. Specifically, the geopolitical sector sought to see what could come from the gathering. A focus had been placed on both local currency development and potential expansion.

Now, after expansion had already been announced, the BRICSNATION is set to officially abandon the US dollar for trade settlements. The move falls in line with the economic policies the bloc had been set to embrace and was confirmed by Brazil’s president. Ultimately, it is set to have a notable impact on the performance of the greenback in the impending months.

The proposal was initially made by Brazil’s Lula da Silva at this week’s BRICS summit. Moreover, he had lobbied for the continued development of a BRICS currency. Specifically, so that the bloc could increase “payment options and reduce our vulnerability,” he told the summit attendees.

The call for the abandonment of the US dollar in international trade has been consistent. Yet, with the arrival of countries like Saudi Arabia, the United Arab Emirates (UAE), and Iran, its implications grow greater. With large oil sales set to transition out of the US dollar, the geopolitical ramifications should undoubtedly be noticeable.

Brics Vs Dollar

According to Brazil’s president, the BRICS economic alliance is officially set to abandon the US dollar for trade settlements. Moreover, the development aligns with recent de-dollarization efforts embraced by the bloc. As they continue to promote the use of local currencies internationally. 

Brazil’s President, Luiz Inacio Lula Da Silva, confirmed the development at this week’s BRICS Summit. Additionally, the bloc announced its agreement to expand. Changing the geopolitical landscape, the alliance is set to welcome six additional countries by 2024. 

Though home to about 40% of the world’s population and a quarter of global gross domestic product, internal divisions have long hobbled BRIC ambitions of becoming a major player on the world stage.

It has long been criticised for failing to live up to its grand ambitions.

The regularly repeated desire of its member states to wean themselves off the dollar, for example, has never materialised. And its most concrete achievement, the New Development Bank, is now struggling in the face of sanctions against founding shareholder Russia.

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