Pre-Trading Thoughts

BRICS might challenge the USD’s dominance in global trade. China and Brazil said last week they will carry out bilateral trade in their domestic currencies. Egypt and India, meanwhile, are considering executing their trade in INR, Bloomberg reports. China settled a bill for LNG imports from the UAE in CNY for the first time. The country is also in talks with Saudi Arabia for a similar arrangement. El Sisi landed in Jeddah this morning to discuss with the Saudi Crown Prince enhancing bi...