{"id":68401,"date":"2023-08-23T11:05:40","date_gmt":"2023-08-23T08:05:40","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=68401"},"modified":"2025-11-25T14:13:13","modified_gmt":"2025-11-25T12:13:13","slug":"brics-statement-expected-later-on-today","status":"publish","type":"post","link":"https:\/\/www.ironfx-cn.com\/ph\/brics-statement-expected-later-on-today\/","title":{"rendered":"BRICS statement expected later on today"},"content":{"rendered":"<p>The leaders of the BRICS are expected to address the media today, potentially providing some insight into the deliberations taken behind closed doors on a number of issues, such as trade, infrastructure and possibly the creation of a common currency. Furthermore, they may also announce the addition of new members to the bloc which could have long term Geopolitical implications. The US existing home sales figure for July came in lower than expected. Despite the anticipated decline, the worse than expected figure could potentially spike worries about the housing market in the US. Furthermore, during his comments yesterday Richmond Fed President Barkin hinted at future rate hikes, should inflationary pressures continue, as he stated that \u201cthe reacceleration scenario has come onto the table in a way that it really wasn&#8217;t three or four months ago\u201d. In the US Equities markets, NVIDIA (#NVIDIA) is due to release its earnings later on today. The Iraqi oil Ministry and their Turkish counterparts according to source have agreed to hold future talks to discuss oil export resumption. Potentially influencing the oil markets in the long run, as cheaper supply flowing into Europe from Turkey could potentially reduce import costs and as such could make oil cheaper. Australian LNG companies are attempting to avoid a strike which could affect the global LNG supply, as the negotiation deadline expires today.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"BRICS statement expected later  on today\" width=\"750\" height=\"422\" src=\"https:\/\/www.youtube.com\/embed\/nQt06i-sygE?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>NVIDIA appears to be moving in an upwards fashion, despite failing to break above the 481 (R1) resistance level. We tend to maintain a bullish outlook for the stock and supporting our case is the RSI indicator below our 4-Hour chart which currently registers a figure above 50, implying a bullish market sentiment. For our bullish outlook to continue, we would like to see a clear break above the 481 (R1) resistance level with the next possible target for the bulls being the 521 (R2) resistance ceiling. On the other hand, for a bearish outlook we would like to see a clear break below the 444 (S1) support level, with the next possible target for the bears being the 408 (S2) support base.<\/p>\n\n\n\n<p>XAU\/USD appears to be continuing its ascent, having broken above the 1900 (S1) key psychological figure. We maintain a bullish outlook for the commodity and supporting our case is the upwards moving trendline, which was incepted on the 21<sup>st<\/sup> of August. For our bullish outlook to continue, we would like to see a clear break above the 1920 (R1) resistance level, with the next possible target for the bulls being the 1943 (R2) resistance ceiling. On the other hand, for a bearish outlook, we would like to see a clear break below the 1900 (S1) if not also a clear break below the 1865 (S2) support levels with the next possible target for the bears being the 1830 (S3) support base.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-other-highlights-for-the-day\"><strong>Other highlights for the day:<\/strong><\/h2>\n\n\n\n<p>In today\u2019s European session, we note France\u2019s, Germany\u2019s the Eurozone\u2019s and the UK\u2019s Preliminary PMI figures all for the month of August. During the American session, Canada\u2019s retail sales\u00a0 rate for June, the US S&amp;P Preliminary PMI figures for August and lastly the Eurozone\u2019s preliminary consumer confidence figure for August.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-nvidia-h4-chart\"><strong>#NVIDIA H4 Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"975\" height=\"476\" src=\"\/wp-content\/uploads\/2023\/08\/image-106.png\" alt=\"support at one point four four four and resistance at  four eight one direction upwards\" class=\"wp-image-68402\" title=\"nvidia-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 444 (S1), 408 (S2), 375 (S3)<\/p>\n\n\n\n<p>Resistance: 481 (R1), 521 (R2), 556 (R3)<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-xau-usd-h4-chart\"><strong>#XAU\/USD H4 Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"975\" height=\"472\" src=\"\/wp-content\/uploads\/2023\/08\/image-107.png\" alt=\"support at   one nine zero zero  and resistance at  one nine two zero direction upwards\" class=\"wp-image-68403\" title=\"xau-usd--four -hour -chart\"\/><\/figure>\n\n\n\n<p>Support: 1900 (S1), 1865 (S2), 1830 (S3)<\/p>\n\n\n\n<p>Resistance: 1920 (R1), 1943 (R2) 1971 (R3)<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1950\" height=\"482\" src=\"\/wp-content\/uploads\/2023\/08\/image-108.png\" alt=\"\" class=\"wp-image-68404\" title=\"benchmark-23-08-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1089\" height=\"619\" src=\"\/wp-content\/uploads\/2023\/08\/image-111.png\" alt=\"\" class=\"wp-image-68407\" title=\"table-23-08-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1091\" height=\"1133\" src=\"\/wp-content\/uploads\/2023\/08\/image-110.png\" alt=\"\" class=\"wp-image-68406\" title=\"morning-releases-23-08-2023\"\/><\/figure>\n\n\n\n<p class=\"translation-block\">If you have any general queries or comments relating to this article please send an email directly to our Research team at <a href=\"mailto:research_team@ironfx.com\" target=\"_self\">research_team@ironfx.com<\/a><\/p>\n\n\n\n<p>Disclaimer:<br>This information is not considered as investment advice or an investment recommendation, but instead a marketing communication. IronFX is not responsible for any data or information provided by third parties referenced, or hyperlinked, in this communication.<\/p>","protected":false},"excerpt":{"rendered":"<p>The leaders of the BRICS are expected to address the media today, potentially providing some insight into the deliberations taken<\/p>","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-68401","post","type-post","status-publish","format-standard","hentry","category-uncategorized","blog-category-financial-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Forex blog - IronFX\u2122 | BRICS statement expected later on today<\/title>\n<meta name=\"description\" content=\"The leaders of the BRICS are expected to address the media today, potentially providing some insight into the deliberations\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ironfx.com\/ph\/wp-json\/wp\/v2\/posts\/68401\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BRICS statement expected later on today\" \/>\n<meta property=\"og:description\" content=\"The leaders of the BRICS are expected to address the media today, potentially providing some insight into the deliberations\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ironfx-cn.com\/ph\/brics-statement-expected-later-on-today\/\" \/>\n<meta property=\"og:site_name\" content=\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-23T08:05:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-11-25T12:13:13+00:00\" \/>\n<meta name=\"author\" content=\"IronFX Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ph\\\/brics-statement-expected-later-on-today\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ph\\\/brics-statement-expected-later-on-today\\\/\"},\"author\":{\"name\":\"IronFX Team\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ph\\\/#\\\/schema\\\/person\\\/6727476356d10030d1564b38f6e699b1\"},\"headline\":\"BRICS statement expected later on today\",\"datePublished\":\"2023-08-23T08:05:40+00:00\",\"dateModified\":\"2025-11-25T12:13:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ph\\\/brics-statement-expected-later-on-today\\\/\"},\"wordCount\":619,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ph\\\/#organization\"},\"articleSection\":[\"Uncategorized\"],\"inLanguage\":\"tl\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ph\\\/brics-statement-expected-later-on-today\\\/\",\"url\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ph\\\/brics-statement-expected-later-on-today\\\/\",\"name\":\"Forex blog - IronFX\u2122 | BRICS statement expected later on today\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ph\\\/#website\"},\"datePublished\":\"2023-08-23T08:05:40+00:00\",\"dateModified\":\"2025-11-25T12:13:13+00:00\",\"description\":\"The leaders of the BRICS are expected to address the media today, potentially providing some insight into the deliberations\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ph\\\/brics-statement-expected-later-on-today\\\/#breadcrumb\"},\"inLanguage\":\"tl\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ironfx-cn.com\\\/ph\\\/brics-statement-expected-later-on-today\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ph\\\/brics-statement-expected-later-on-today\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ph\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"BRICS statement expected later on today\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ph\\\/#website\",\"url\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ph\\\/\",\"name\":\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\",\"description\":\"&quot;Our Introducing Brokers program offers competitive conditions tailored to our partners&#039; needs. 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