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Your Weekly Trading Review by UFX.com – Sunday, April 15, 2018
Here are some of this past week’s leading economic news and events that affected the financial markets:
$3 Million Worth of Bitcoin Reported Missing
Indian cryptocurrency platform, Coinsecure has lost over $3 million Bitcoins and is blaming its head of security. The company claims that its Chief Security Officer was extracting Bitcoin to distribute to customers and claims the funds were lost in the process. Clients’ funds were kept in a secure Bitcoin wallet and the private keys were kept by Saxena and Kalra. Private keys are needed to take cryptocurrency out of a storage wallet and thus key holders are able to move coins.
U.S. Retaliates Against Chemical Attacks
Last Sunday, rescue workers in Syria reported finding at least 42 people dead in their homes from apparent suffocation. Aid groups blamed President Bashar al-Assad’s government for the attack. The United States, Britain and France has since launched 105 missiles against Syrian research, storage and military targets. The latest U.S. led attack was small in scope, with little damage done to Assad’s war-fighting capabilities. Syria remains a fighting ground for foreign forces, militias and terrorist groups.
Weekly Market Brief
The EUR/USD increased slightly by +0.03%, closing at $1.2331. The GBP/USD rose by +0.07%, closing the week at a £1.4238 exchange rate. The Dow Jones ended the week with a decrease of -0.50%, closing at a value of 24,360.14. The S&P 500 fell by -0.29%, closing at a value of 2,656.30. And lastly, the NASDAQ dropped by -0.47%, ending the week at a value point of 7,106.65. Gold increased by +0.45% as of last week’s market close, closing at $1,347.90. Crude Oil rose by +0.48%, closing at $67.39 a barrel.
That’s our summary of the financial headlines from the past week. Good luck with this week’s trading and stay tuned for the next review from UFX.com.