FXBrokerFeed – End of April Market Recap
Published on: 04/26/19 8:32 AM
The 2019 End of April FX market maintains resilience and signals a bag of mixed fortunes. Forex Broker comparison service FXBrokerFeed provides a sneak preview of some updated news, and trends in the FX broker market, featuring Samsung, Surging Oil Prices, and a Weakening Dollar.
Samsung Blockchain Leap
The last week of April witnesses a bust into the scene with Samsung’s leap into blockchain technology. Samsung have announced their crypto debut with Ethereum, prior to launch of their own Samsung Coin.
Samsung enters into the fray with a strategic network partnership that grants them bragging rights into the cryptocurrencies sphere. Though in formative stages of development, Samsung is considering a hybrid blockchain that is both private and public.
Samsung has discreetly worked on blockchain
projects over time, and already has a wallet built into its flagship Galaxy S10 smartphones stable. The blockchain enabled Samsung model-range supports decentralized applications including Enjin, Cosmee, Cyptkitties and CoinDuck.
Impact of Surging Oil Prices and a Weak Dollar
And keeping a tab on the surging oil prices, the US imposed sanctions are poised to have a tighter stranglehold on Iran oil exports. Trump’s administration is unlikely to renew waivers hitherto enjoyed by eight countries that depend on Iranian oil.
During the week under review, positive US economic data, and favorable trading opportunities backed by release of durable goods orders is keeping the US economy
In the meantime, the US dollar continued to weaken after the Easter recess, and Asian traders are taking full advantage of these low hanging oil and dollar cherries post Easter break.
This scenario has set in motion a series of mixed fortunes for the global FX market to end a very dynamic month.
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