BRICS Summit

The BRICS is an intergovernamental organization comprising Brazil, Russia, India, China and South Africa (founding members) and Iran, Egypt, Ethiopia, and the United Arab Emirates (new members). The bloc, which intends to give voice the so-called "Global South", is seen as a counterweight to the G7, the group developed economies formed by Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. The BRICS members hold and annual summit, which each state goverment leader attends to.

Next event - Wednesday 23 October 2024 00:00

The typical/expected impact on CNY pairs is medium. This is an all-day event.

Tuesday 22 October 2024 00:00

Trading range

Past events

Date
Tuesday 22 October 2024 00:00

Economic context

Recent economic data has been moderately bearish for CNY. The following recent announcements may affect the market reaction to BRICS Summit:

PreviousLatest
Gross Domestic Product (QoQ)Bullish change0.7%0.9%
Gross Domestic Product (YoY)Bearish change4.7%4.6%
Industrial Production (YoY)Bullish change4.5%5.4%
Retail Sales (YoY)Bullish change2.1%3.2%
Exports (YoY) CNYBearish change8.4%1.6%
Imports (YoY) CNYBullish change0%0.7%
Trade Balance CNYBearish change649.34B582.62B
Exports (YoY)Bearish change8.7%2.4%
Imports (YoY)Bearish change0.5%0.3%
Trade Balance USDBearish change$91.02B$81.71B
Consumer Price Index (MoM)Bearish change0.4%0%
Consumer Price Index (YoY)Bearish change0.6%0.4%
Producer Price Index (YoY)Bearish change-1.8%-2.8%

About BRICS Summit

Country:China
Currency:CNY
Source:
Category:Politics
Frequency:Irregular
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