FXBrokerFeed Delivers Their Weekly Market Recap for End of April

Forex Broker comparison service provider FXBrokerFeed, brings you the latest news, comparisons, and forex market trends, featuring Samsung, Surging Oil Prices, and Weakening Dollar.

Ontario, Canada – May 1, 2019 /NewsNetwork/ —

The 2019 End of April FX market maintains resilience and signals a bag of mixed fortunes. Forex Broker comparison service provider FXBrokerFeed, brings you the latest news, comparisons, and forex market trends, featuring Samsung, Surging Oil Prices, and Weakening Dollar.

Samsung Blockchain Leap

FXBrokerFeed takes note of Samsung’s leap of faith into blockchain technology after tinkering with it on the fringes for some time. Samsung have announced that their debut into cryptospace will be on Ethereum blockchain, prior to launch of their own Samsung Coin.

FXBrokerFeed observes that Samsung has discreetly worked on blockchain projects over time, and already has a crypto wallet built into its flagship Galaxy S10 smartphones stable.

The blockchain enabled Samsung model-range supports decentralized applications including Enjin, Cosmee, Cyptkitties and CoinDuck.

Though in formative stages of development, Samsung is considering a hybrid blockchain that is both private and public.

It is worth noting that quite a number of Asian electronics are following closely in Samsung’s wake by investing in similar crypto, and blockchain technology for mobile applications.

Impact of Surging Oil Prices and a Weak Dollar

FXBrokerFeed pays close attention to the impact that surging oil prices, and the weakening dollar rates are having on the FX market post Easter break.

The US imposed sanctions continue to vary and tightening stranglehold on Iran oil exports. Trump’s administration is withdrawing waivers hitherto enjoyed by eight countries that import Iranian oil.

FXBrokerFeed contends that as the oil prices took an upward trajectory because of these developments, the US dollar continued to weaken after the Easter recess. Asian traders are taking full advantage of these low hanging cherries.

At the same time, positive US economic data, and favorable trading opportunities backed by release of durable goods orders, is keeping the US economy buoyant. This scenario has set in motion a series of mixed fortunes for the global FX market to end a dynamic month.

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Source: NewsNetwork

Release ID: 507832