<h1>Sliver (XAG/USD) Analysis</h1>&nbsp;<h2>Key Points: -</h2>&nbsp;&nbsp;·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The price of Silver is fluctuating near a 10-week high, experiencing a two-day winning streak, but showing limited upward momentum recently.·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The clear break of the yearly horizontal resistance and bullish MACD signals favor buyers of XAG/USD (Silver/US Dollar).·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;However, overbought RSI conditions present a challenge for further upside, potentially targeting the double tops recorded in April and May.&nbsp;<h2>Today's Scenario: - </h2>&nbsp;&nbsp;Silver price recorded slight gains despite the overall strength of the US Dollar (USD) against other major currencies. The decline in US Treasury bond yields contributed to the support for silver. Although the USD received a boost from soft US housing data and mixed Retail Sales figures, silver managed to trade at $25.14, showing an increase of 0.34% from its opening price. <h2>Diagram of XAG/USD (Silver): -</h2>&nbsp;<img src="https://cdn.forexoverflow.io/images/1689842410161-ufdujqn24buytww-xagusd2023-07-2013-59-14-1.png"> <h2>Economic Events: -</h2> <img src="https://cdn.forexoverflow.io/images/1689842430837-6nrr23vcety1qoe-economic-event-1.png"> <h2>Buy Scenario: - </h2>&nbsp;On the upside, if the bullish momentum persists, the intraday buyers may target the $26.00 round figure before attempting to breach the "double top" formation level around $26.10-15.&nbsp;Should the XAG/USD disregard the overbought RSI and successfully break above $26.15, it opens the possibility of a strong rally towards the previous yearly high of around $27.00. Till we did not recommend buying Silver (XAG/USD).&nbsp;<h2>Sell Scenario: - </h2>&nbsp;Silver price (XAG/USD) is currently trading around $25.15, taking a breather after a two-day uptrend that led to a 2.5-month high during the sluggish Asian session on Thursday. The price action justifies the overbought RSI, but the bulls are still in control.&nbsp;The bullish MACD signals, along with the breakout above a horizontal area around $24.50-55 (comprising multiple tops since early January), have enabled the silver price to reach the multi-day top.&nbsp;As long as the XAG/USD remains above $24.50 on a daily closing basis, the bullish sentiment is likely to continue. However, a decline towards the 50-day moving average (DMA) level, approximately $23.60, could be expected.&nbsp;In case of a deeper correction, the convergence of the 200-DMA and an upward-sloping support line from March 10, near $22.90, will be crucial for the bears to overcome to regain control.&nbsp;Till we do not advise selling silver (XAG/USD).&nbsp;<h2>Support and Resistance Level: -</h2>﻿&nbsp;Support&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resistance&nbsp;&nbsp;&nbsp;S1 24.98&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R1 25.28&nbsp;S2 24.81&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R2 25.41&nbsp;S3 24.68&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R3 25.57&nbsp;&nbsp;

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With an overbought RSI, XAG/USD sets sights on the $26.10-15 obstacle. Discover more from the Silver Price Analysis.

Silver Price Outlook: XAG/USD Rally

Silver Price Forecast: XAG/USD Spikes -20-07-2023

<h1>WTI Crude Oil (US Oil) Analysis</h1>&nbsp;<h2>Key Points: -</h2>&nbsp;·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The EIA Crude Oil Stocks Change data suggests a decrease in demand for crude oil.·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The renewed trade war tensions between China and the United States could put pressure on WTI (West Texas Intermediate crude oil).·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Market participants are expecting a more dovish policy stance from the Federal Reserve (Fed). <h2>Today's Scenario: - </h2>&nbsp;As of Thursday, Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around the $75.40 mark. The WTI price edged lower after the release of the Crude Oil Stocks Change data, indicating lower demand for crude oil. The Energy Information Administration (EIA) reported that the Crude Oil Stocks Change for the week ending July 14 fell by 708,000 barrels, which was below the expected drop of 2.44 million barrels and lower than the previous week's gain of 5.946 million barrels. WTI price might also face pressure due to renewed trade war tensions between the US and China. China's Ambassador Xie Feng criticized the US's consideration of foreign investment and AI chip restrictions and threatened retaliation if the US imposes further curbs on its chip sector. On the other hand, market participants anticipate that the Federal Reserve (Fed) is nearing the end of its policy tightening cycle and will likely maintain interest rates following the expected 25 basis points increase in the July meeting. A more dovish stance from the Fed could limit the downside for WTI. It is worth noting that higher interest rates can slow the economy and reduce oil demand. Additionally, Russia is planning to cut its oil exports by 2.1 million metric tonnes in the third quarter, in line with its planned voluntary export cuts of 500,000 barrels per day in August. In the coming days, oil traders will closely monitor the developments in the US-China relationship and key economic data such as Unemployment Claims and the Philadelphia Fed Manufacturing Index. Looking ahead, next week's focus will shift to the US Flash Manufacturing Purchasing Managers Index (PMI) and Flash Services PMI, which could significantly impact the USD-denominated WTI price.&nbsp;<h2>Diagram of WTI Crude Oil (US Oil): -</h2>&nbsp;<img src="https://cdn.forexoverflow.io/images/1689841548699-3t1jn1khj01106i-usoil2023-07-2013-45-00-1.png">&nbsp;<h2>Economic Events: -</h2>&nbsp;<img src="https://cdn.forexoverflow.io/images/1689841566913-9a1fba5d0m6dx81-economic-event-1.png"> <h2>Buy Scenario: - </h2>&nbsp;if the price starts to climb, it may face resistance at 76.99, which is identified as an overlap resistance that could hinder further upward movement.&nbsp;If the price continues to rise, it might encounter the 2nd resistance level at 78.77, which is another overlap resistance level and could potentially act as a barrier to further upward movement.&nbsp;Till we do not advise to buy in WTI US oil.&nbsp;<h2>Selling Scenario: - </h2>&nbsp;The WTI US Oil chart currently indicates a weak bullish momentum with low confidence. There is a possibility that the price could decline towards the 1st support level in the short term before bouncing back and rising towards the 1st resistance level.&nbsp;The 1st support level at 73.76 is identified as an overlap support, and it could potentially serve as a rebound point for the price if it continues to decline.&nbsp;The 2nd support level at 72.50 is also an overlap support and coincides with the 50% Fibonacci retracement level, making it a significant level to watch for potential price barriers. Till we did not advise to sell WTI Crude oil.&nbsp;<h2>Support and Resistance Level: -</h2>﻿&nbsp;Support&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resistance&nbsp;&nbsp;&nbsp;S1 74.64&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R1 76.47&nbsp;S2 73.91&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R2 77.57&nbsp;S3 72.80&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R3 78.30

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WTI holds above $75.40. Monitor Sino-US relations as they may influence the crude oil market.

WTI Price Resilient: Above $75.40

WTI Maintains Position: $75.40 and Beyond- 20-07-2023.

<h1>Gold (XAU/USD) Analysis</h1>&nbsp;<h2>Key Points: -</h2>&nbsp;<ul><li>The price of gold continues to show strength, reaching its highest levels in nine weeks, with traders successfully surpassing the support confluence at $1,970.</li><li>The weakness in the US Dollar and China's efforts to attract global investors provide support for the gold price.</li><li>Mixed concerns regarding the Federal Reserve's monetary policy and a light economic calendar contribute to the upward movement in the gold price.</li><li>The XAU/USD pair prepares for next week's Federal Open Market Committee (FOMC) meeting, even though a 0.25% rate hike in July is widely expected.</li></ul>&nbsp;<h2>Today's Scenario: - </h2>&nbsp;Gold Price (XAU/USD) has reached a two-month high, showing strength despite a slight retreat from the daily peak. This is mainly due to the broad decline in the US Dollar, which has resulted in sluggish markets. Positive headlines from China and lower yields have also contributed to the uptrend in XAU/USD. The People's Bank of China's efforts to ease controls on international investments into the country and their willingness to ease geopolitical tensions with the US if certain conditions are met have boosted the Gold Price. Additionally, weaker-than-expected US housing and consumer spending data have led to expectations of a policy pivot by the Federal Reserve after the anticipated 25 basis points rate hike in July. Moreover, there are discussions about optimism at US banks and BRICS countries' readiness to use gold-backed currency, which further supports the bullish sentiment for XAU/USD. However, concerns about higher interest rates for an extended period by major central banks and a lack of optimism in the Asia-Pacific market may be tempering the Gold buyers' enthusiasm. The light economic calendar ahead of the next week's Federal Open Market Committee (FOMC) monetary policy meeting announcements is also influencing the current market sentiment.&nbsp;<h2>Diagram of XAU/USD (Gold): -</h2>&nbsp;<img src="https://cdn.forexoverflow.io/images/1689840600893-w2yhuopq2kttf5e-xauusd2023-07-2013-29-39-1.png"> &nbsp;<h2>Economic Events: -</h2>&nbsp;<img src="https://cdn.forexoverflow.io/images/1689840622714-8ciy8cyqlrxf2z5-economic-event-1.png"> <h2>Buy Scenario: - </h2>&nbsp;On the upside, an immediate resistance level can be found at $1,990, where Fibonacci 161.8% on one-day intersects with the upper band of the Bollinger on the four-hour chart.&nbsp;If the Gold buyers manage to surpass this resistance, the next challenge awaits at the Pivot Point one-week R2 around $1,996, followed by the $2,010 hurdle, which corresponds to filling the upside gap. Till we did not advise to buy XAU/USD.&nbsp;<h2>Selling Scenario: - </h2>&nbsp;According to our Technical Confluence indicator, the Gold Price has moved higher, surpassing the $1,970 support confluence, which includes the Pivot Point one-day S1, one-month R1, and Fibonacci 23.6% on one-day.&nbsp;The next key support level is seen at $1,978, where the upper band of the Bollinger on the daily chart intersects with the Fibonacci 61.8% on one-day.&nbsp;In case the XAU/USD weakens below $1,970, there is an additional downside filter at around $1,965, comprising the Pivot Point one-day S2 and the 5-DMA, before encountering further bearish pressure. We do not advise to sell position in XAU/USD.&nbsp;<h2>Support and Resistance Level: -</h2> &nbsp;Support&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resistance&nbsp;&nbsp;&nbsp;S1 1970.72&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R1 1981.90&nbsp;S2 1964.68&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R2 1987.04&nbsp;S3 1959.54&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R3 1993.08&nbsp;

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XAU/USD forecast signals gap filling below $2,010! Rely on the Confluence Detector for insights into the gold price movement.

Gold Price Analysis: XAU/USD Gap Concerns

Gold Price Outlook: XAU/USD Gap Filling-  20-07-2023

<h1>US Doller Index Analysis</h1>&nbsp;<h2>Key Points: -</h2>&nbsp;<ul><li>The US Dollar Index is consolidating its first weekly gain in four sessions, trading near its intraday low.</li><li>The US Dollar receives support from cautious optimism surrounding global growth concerns, as well as risk-positive news from China and Russia.</li><li>Market participants are closely watching upcoming US inflation data, the US Bank Stress Test results, and central bankers' speeches from the ECB Forum for clearer directions in the market.</li></ul>&nbsp;<h2>Today's Scenario: - </h2>&nbsp;The US Dollar Index (DXY) is facing selling pressure, leading to a pullback from its recent weekly gains around 102.70 during the early Monday morning in Asia. The consolidation in the US Dollar's value against six major currencies comes amid slightly positive market sentiment and preparations for upcoming top-tier US data and key central bankers' speeches. The uncertainty surrounding Russian President Vladimir Putin's power in Moscow and hopes of significant stimulus from China have contributed to cautious optimism and weighed on the US Dollar. There are concerns about Putin's grip on power after heavily armed Russian mercenaries withdrew from Rostov, which halted their advance on Moscow but raised questions about the situation. Ning Jizhe, a high-ranking Chinese official, flagged concerns about the need for additional stimulus to bolster the Chinese economy, leading to some optimism in the markets. However, some major investors have paused their optimism in China, and hawkish comments from Fed officials, along with relatively positive US data, have kept the DXY buyers hopeful. The mixed US S&amp;P Global PMIs for June have led to discussions about potential rate hikes, with some Fed officials suggesting two more this year. This has impacted sectors like services, which are sensitive to changes in borrowing costs. Despite the positive headlines from China and Russia, the US Dollar Index bulls remain hopeful, with potential risks arising from US inflation data and central bankers' speeches at the European Central Bank (ECB) Forum and US Bank Stress Test results. Overall, the DXY's performance will continue to be influenced by economic data, central bank actions, geopolitical developments, and market sentiment. <h2>Diagram of US Dollar Index (DXY): -</h2> <img src="https://cdn.forexoverflow.io/images/1689839687853-k2t4mxtca6ex8vp-dxy2023-07-2013-13-23-1.png">&nbsp; <h2>Economic Events : -</h2>&nbsp;<img src="https://cdn.forexoverflow.io/images/1689839703408-0ojqr78kdhmfyx4-economic-event-1.png"> <h2>Buy Scenario: - </h2>&nbsp;On the upside, the first resistance level at 100.84 could act as a barrier to any upward movement, as it is considered a pullback resistance. Additionally, there is an intermediate resistance at 100.53, which is recognized as a swing high resistance.&nbsp;Investors should closely monitor price action around these support and resistance levels to gauge the DXY's future direction. Till we do not advise to buy US Dollar Index.&nbsp;<h2>Sell Scenario: - </h2>&nbsp;The DXY chart shows a bearish momentum, indicating the potential for further downward movement towards the first support level at 99.42. This level is significant as it is an overlap support and may attract buying interest. Additionally, there is an intermediate support at 99.65, which is a multi-swing low support. Till we do not advise to sell in US Dollar Index&nbsp;<h2>Support and Resistance Level: -</h2>﻿&nbsp;Support&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resistance&nbsp;&nbsp;&nbsp;S1 99.95&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R1 100.57&nbsp;S2 99.62&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R2 100.87&nbsp;S3 99.32&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R3 101.20&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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The US Dollar Index reacts to recent events, causing it to dip towards 102.50, with a close watch on inflation and bank stress test outcomes.

US Dollar Index Responds to News, target to 102.50

DXY Reverses: US Dollar Retreats to 102.50 - 20-07-2023

<h1>USD/CHF Analysis</h1>&nbsp;<h2>Key Points: -</h2> <ul><li>The USD/CHF pair continues to face selling pressure, reaching its lowest levels since January 2015, as indicated on Tuesday.</li><li>Switzerland's trade surplus expands beyond expectations in June, with both exports and imports showing positive growth.</li><li>The US Dollar experiences a decline as the market reevaluates its expectations regarding the Federal Reserve's monetary policy, following mostly negative economic data.</li><li>Market participants are closely monitoring risk catalysts ahead of next week's crucial Federal Open Market Committee (FOMC) meeting.</li></ul>&nbsp;<h2>Today's Scenario: - </h2>&nbsp;The USD/CHF pair continues to decline and is currently at its lowest levels since January 2015, down for the second consecutive day. The Swiss Franc (CHF) pair justifies the downtrend, driven by the weaker US dollar and stronger Swiss trade numbers, trading around 0.8560 during Thursday's European session. Swiss Trade Balance for June rose to 4,823M, exceeding expectations of 4,031M, despite being lower than the previous reading of 5,442M. Details indicate that exports grew to 24,917M from 23,879M, and imports also rose to 20,093M compared to 18,438M in May. The broad weakness in the US dollar is a contributing factor to the USD/CHF pair's decline. The US Dollar Index (DXY) drops 0.25% intraday, testing the 100.00 round figure, after rebounding for two days from its lowest level since April 2022. The greenback's performance is influenced by downbeat US housing data and mixed concerns about the Federal Reserve (Fed), while optimism at US banks is being overlooked. The Swiss Franc's safe-haven appeal and the market's cautious mood, driven by mixed headlines about China and global central banks, are also influencing the USD/CHF bears. Additionally, the Swiss National Bank's (SNB) hawkish bias contrasts with the market's uncertainty about the Fed's future actions beyond July, putting further pressure on USD/CHF prices. Amidst these factors, the S&amp;P 500 Futures are showing mild losses, and US Treasury bond yields are trading mixed at the weekly low. Traders of the USD/CHF pair should keep an eye on risk catalysts, including the US Initial Jobless Claims and Existing Home Sales data. However, the key event to watch for clear directions is the Federal Open Market Committee (FOMC) monetary policy meeting announcements scheduled for next week. &nbsp;<h2>Diagram of USD/CHF: -</h2>&nbsp;<img src="https://cdn.forexoverflow.io/images/1689838547874-5g4ezhiftki8x29-usdchf2023-07-2012-51-06-1.png"> <h2>Economic Events : -</h2>&nbsp;<img src="https://cdn.forexoverflow.io/images/1689838597379-ot2f5efyu2zrktp-economic-event-1.png">&nbsp;<h2>Buy Scenario: - </h2>&nbsp;On the upside, the 1st resistance level at 0.8759 is identified as a pullback resistance, which may act as an obstacle to upward price movement. It is crucial to monitor how the price reacts around this level, as a failure to break above it could indicate a continuation of the bearish momentum. Till we do not advise to buy USD/CHF.&nbsp;<h2>Sell Scenario: - </h2>&nbsp;The USD/CHF currency pair is currently showing a bearish trend, indicating the potential for further downward movement towards the 1st support level.&nbsp;The 1st support level at 0.8529 is particularly important as it aligns with the 100% Fibonacci Projection. This level could serve as a strong support zone, attracting buyers and potentially leading to a halt in the price decline. Furthermore, the 2nd support level at 0.8445 corresponds to the -61.8% Fibonacci Expansion, adding to its significance as a potential area of support. Till we do not advise to sell USD/CHF.&nbsp;<h2>Support and Resistance Level: -</h2> &nbsp;Support&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resistance&nbsp;&nbsp;&nbsp;S1 0.8564&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R1 0.8610&nbsp;S2 0.8542&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R2 0.8635&nbsp;S3 0.8517&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R3 0.8657&nbsp;

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USD/CHF faces fresh lows! Positive Swiss trade data and a weaker USD weigh on the pair.

USD/CHF Eyes Multi-Year Low amid Strong Swiss Trade

USD/CHF at Risk: New Multi-Year Low Expected- 20-07-2023.

The global economy is dominated by the US dollar, with over 60% of global foreign exchange reserves held in the currency. This has led to concerns about the potential risks and vulnerabilities associated with such a concentration of economic power in a single currency. In response, the BRICS countries (Brazil, Russia, India, China, and South Africa) have been exploring the possibility of creating their own reserve currency to reduce their dependence on the US dollar. But is this move likely to succeed in reducing the dollar's dominance in the global economy?

**The US Dollar's Dominance in the Global Economy**

Before delving into the BRICS countries' attempt to reduce the US dollar's dominance, it is important to understand the reasons behind the currency's current dominance in the global economy. The US dollar has been the world's reserve currency since the end of World War II. The Bretton Woods agreement of 1944 established the US dollar as the standard currency for international transactions, and countries agreed to peg their currencies to the US dollar, which was in turn backed by gold.

However, the Bretton Woods system collapsed in 1971, when the US abandoned the gold standard, leading to a transition to a floating exchange rate system. Despite this change, the US dollar remained the dominant currency in the global economy due to the size of the US economy and the stability of the US financial system. The US dollar has become the default currency for international trade, with many countries requiring US dollars to conduct business.

**The Risks of the Dollar's Dominance**

While the US dollar's dominance has provided many benefits to the US economy, it also poses several risks and vulnerabilities for the global economy. For example, fluctuations in the US dollar can have significant effects on global financial markets and commodity prices. In addition, the US Federal Reserve's monetary policy decisions can have far-reaching impacts on other countries' economies. This has led to concerns about the potential for the US to use its economic power as a tool for geopolitical influence.

Furthermore, the US dollar's dominance has created a reliance on the US financial system and a vulnerability to potential disruptions in that system. For example, the 2008 financial crisis highlighted the risks associated with the concentration of economic power in a single country and currency. Countries with large foreign exchange reserves held in US dollars were particularly vulnerable to the crisis, as the value of the US dollar decreased, and many countries experienced significant economic downturns.

**The BRICS' Attempt to Reduce the Dollar's Dominance**

Given the risks and vulnerabilities associated with the US dollar's dominance, the BRICS countries have been exploring the possibility of creating their own reserve currency to reduce their dependence on the US dollar. The idea of a BRICS' reserve currency was first proposed in 2010, and the BRICS countries have since taken several steps towards its implementation.

One of the key steps taken by the BRICS countries was the establishment of the New Development Bank (NDB) in 2014. The NDB was created to provide financing for infrastructure and sustainable development projects in emerging economies, with the aim of reducing their dependence on Western-led financial institutions such as the World Bank and the International Monetary Fund. The NDB's capital is denominated in US dollars, but the BRICS countries have expressed a desire to eventually denominate it in their own currencies.

Another step taken by the BRICS countries was the establishment of the Contingent Reserve Arrangement (CRA) in 2015. The CRA is a $100 billion fund that provides liquidity to member countries in the event of a balance of payments crisis. The CRA is denominated in US dollars, but the BRICS countries have expressed a desire to eventually denominate it in their own currencies. In addition, the BRICS countries have been exploring the possibility of creating a cryptocurrency to facilitate trade and investment between member countries.

Despite these efforts, the BRICS countries face several challenges in their attempt to reduce the US dollar's dominance in the global economy. One of the biggest challenges is the sheer size and influence of the US economy. The US dollar's dominance is not just a result of its status as the world's reserve currency, but also due to the size and depth of the US financial system. The US financial system is home to some of the world's largest banks, and the US bond market is the largest and most liquid in the world. This means that any attempt to create a new reserve currency would need to be able to match the size and depth of the US financial system.

In addition, the BRICS countries face challenges in terms of coordination and cooperation. While the BRICS countries share a common goal of reducing their dependence on the US dollar, they also have their own unique economic and political interests. This can make it difficult to agree on a unified approach to creating a new reserve currency.

Finally, the BRICS countries also face challenges in terms of international acceptance. Any new reserve currency would need to be widely accepted and trusted by other countries and international financial institutions. This can be a difficult task, as the US dollar's dominance is deeply entrenched in the global financial system, and many countries may be reluctant to switch to a new currency.

**Conclusion**

In conclusion, the BRICS countries' attempt to reduce the US dollar's dominance in the global economy is a challenging and complex task. While the risks and vulnerabilities associated with the US dollar's dominance are well-known, the US financial system's size and influence, as well as the challenges of coordination and international acceptance, make it difficult to create a viable alternative. Nevertheless, the BRICS countries have taken several steps towards this goal, including the establishment of the NDB and CRA, and the exploration of a new cryptocurrency. Whether these efforts will succeed in reducing the US dollar's dominance remains to be seen, but the discussion and debate surrounding the issue is an important one for the global economy.


The global economy is dominated by the US dollar, with over 60% of global foreign exchange reserves held in the currency. This has led to concerns about the potential risks and vulnerabilities associa...

BRICS' Reserve Currency: A Rival to the Dollar's Dominance?

 Why Putin Declared a Part Mobilization of the Military Reserve in Russia

1. To bolster military mobilization before the country faces recession due to global oil prices.

2. To prepare for a possible war with Ukraine, Belarus or other countries that have been subject to sanctions by Russia.

3. To set up military bases near Crimea, which Moscow considers part of its traditional sphere of influence and not just Russian territory since 2014 annexation from Ukraine.

4. In response to NATO's buildup on Russia's borders in the past decade and large-scale drills near its borders in May 2016 (Warrior Strike) and September 2016 (Breeze).

5. In preparation for an escalation with US/NATO forces who are constructing an anti-Russia missile defense system in Romania, Poland and other Eastern European nations that could be operational as early as 2018.



 Why Putin Declared a Part Mobilization of the Military Reserve in Russia

1. To bolster military mobilization before the country faces recession due to global oil prices.

2. To prepare for a possibl...

Russia begins Mobilization of its reserve force, is it immediate threat to Ukraine?

A **Zero-Coupon Inflation Swap (ZCIS)** is a financial instrument that allows two parties to exchange a fixed rate for a floating rate based on the Consumer Price Index (CPI), which measures inflation. In a ZCIS, one party pays a fixed rate of return to the other party, and in return, the other party pays a floating rate based on the CPI.

**Here's the formula for a ZCIS: -**

**ZCIS = (Fixed rate payment) / (1 + Inflation rate)^(Years to maturity)**

**Where: -**

Fixed rate payment is the payment made by the party that is receiving the fixed rate. Inflation rate is the rate of inflation based on the CPI. Years to maturity is the number of years until the ZCIS matures.

An example of a ZCIS is as follows:

*Party A agrees to pay Party B a fixed rate of 2% per year for 5 years, and in return, Party B agrees to pay Party A a rate based on the CPI for 5 years. If the inflation rate over the 5-year period is 3%, then Party B would pay Party A a total of (2 / (1 + 0.03)^5) = 1.7333.*

**The benefits of a ZCIS include: -**

-	**Hedging against inflation: -** A ZCIS can provide a hedge against inflation for investors who are concerned about the potential for rising prices.

-	**Diversification: -** A ZCIS can provide diversification for investors, as it is not tied to traditional investments such as stocks or bonds.

-	**Customizable: -** A ZCIS can be customized to meet the specific needs of investors, such as a particular rate, maturity, and currency.

It's important to note that ZCISs can be subject to various risks, such as interest rate risk, market risk, and counterparty risk. 

Additionally, the calculation of the inflation rate can be subject to inaccuracies and revisions, which can impact the value of the ZCIS. As with any investment, it's important to thoroughly understand the risks and to consult with a financial advisor before investing in a ZCIS or any other investment.


A **Zero-Coupon Inflation Swap (ZCIS)** is a financial instrument that allows two parties to exchange a fixed rate for a floating rate based on the Consumer Price Index (CPI), which measures inflation...

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Zero-Coupon Inflation Swap (ZCIS)

Daily Analysis

Silver Price Forecast: XAG/USD Spikes -2...

WTI Maintains Position: $75.40 and Beyon...

Gold Price Outlook: XAU/USD Gap Filling-...

DXY Reverses: US Dollar Retreats to 102....

USD/CHF at Risk: New Multi-Year Low Expe...

Geo Politics

BRICS' Reserve Currency: A Rival to the ...

Russia begins Mobilization of its reserv...