USD's share in SWIFT hits record, oil accelerates, and Tesla writes down Bitcoin

In early April,xm官方入口 a number of indicators — despite their different natures — unanimously signaled persistent fragility in the global economic system. The dollar is strengthening its role in international payments, the oil market is being driven higher by geopolitics as shipping through the Strait of Hormuz faces real problems, and crypto assets remain a source of volatility — a point underscored by Tesla's write-down of its Bitcoin holdings. At the same time, tech companies continue to double down on ecosystem expansion: Apple is accelerating plans for smart home and wearable devices, laying the groundwork for future product drivers.

Dollar gains ground in international payments

In March, the US dollar noticeably increased its share of international transactions. Its share of SWIFT payments rose to a record 51.1% versus 49.2% in February. The data, published Thursday by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), reaffirm the dollar's status as the world's primary trade currency.

This result is the highest since a methodology revision by the Belgian consortium in 2023. It essentially reflects sustained demand for dollars under heightened uncertainty, especially amid the ongoing US–Iran conflict in the Middle East.

Dollar strength is unfolding against a backdrop of geopolitical turbulence that has been affecting markets since late February, when US and Israeli strikes on Iran triggered a global sell-off in risk assets, a sharp rise in oil prices and a flight to the dollar as a safe haven, according to Bloomberg.

As Bloomberg notes, March currency markets were "extremely volatile." The dollar's one-month implied volatility hit a ten-month high in March, though swings later moderated as investors priced in the possibility of ceasefire talks and reassessed risk scenarios.

The euro loses share, the yuan rises, but remains below record highs. Against this backdrop, the euro — still the second most used currency in SWIFT transactions — saw its share fall: in March it dipped to roughly 21% from 22.8% in February. Next in share are the British pound, the Japanese yen, the Chinese yuan and the Canadian dollar. The yuan's share of SWIFT flows rose to 3.1% in March but remains below its 2024 peak.

Key takeaways The message is clear: the rise of the USD share in SWIFT to 51.1% signals continued elevated demand for the dollar in international settlements even amid high volatility. The euro's declining share shows capital and payment flows shifting toward the dollar as a relatively more "predictable" asset amid geopolitical risk.

For traders, this dynamic may mean higher FX market activity: with ongoing uncertainty around the Middle East, the dollar is likely to remain in focus, and volatility can create entry opportunities.

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Oil rises for the fifth day straight: Strait of Hormuz remains effectively closed

On Friday, oil prices continued to climb: both major benchmarks rose more than 1% amid the de facto halt of commercial navigation through the Strait of Hormuz and the lack of meaningful diplomatic progress between Washington and Tehran.

According to the Economic Times, in early Asian trading, Brent futures rose 1.17% while WTI gained 1.12%. The rally has accelerated over the past few days: on Thursday, Brent jumped more than 3% and closed above $105/bbl.

Reminder: the Strait of Hormuz is one of the world's most important sea routes, previously handling about 20% of daily oil and LNG shipments. The situation deteriorated sharply after Iran closed the strait at the end of February in response to US and Israeli air strikes.

On April 18, Iran reinstated full restrictions after a brief reopening that lasted less than 24 hours. Since then, the strait has been under a regime Tehran describes as "strict management and control" by the armed forces.

Escalation continued this week. On Wednesday, Iran attacked at least three commercial ships in the strait, hours after Trump announced the extension of an open-ended ceasefire with Iran. The US has maintained a naval blockade of Iranian ports.

An Iranian negotiator said Tuesday that restoring navigation through the strait was "unrealistic" amid what he described as "open violations of the ceasefire" by the US and Israel. Trump responded by saying his decisions are keeping the strait closed and arguing that reopening would allow Iran to earn "$500 million a day."

Key conclusions As long as the Strait of Hormuz remains effectively closed to commercial traffic and diplomatic signals fail to reassure the market, oil prices will keep upward momentum.

Traders can exploit the situation by monitoring futures dynamics and price reactions to news on regional restrictions, changes in shipping, and official statements.

Tesla keeps all 11,509 Bitcoin and records $173 million impairment

Tesla said on Wednesday that in the first quarter of 2026, it did not change its crypto portfolio: the company retained all 11,509 Bitcoin it held at the start of the period. The automaker recorded an impairment loss of $173 million after taxes. The write-downs were triggered by a decline in the cryptocurrency's price: over the quarter, Bitcoin fell by roughly 22%.

According to the income statement, Tesla made no Bitcoin transactions during the first quarter—there were no purchases or sales of digital assets.

The impairment reflects Bitcoin's price movement: the price fell from about $90,000 at the start of the year to around $68,000 by the end of March. As a result, the carrying value of Tesla's digital assets declined from roughly $1.008 billion to $786 million. The total drop amounted to about $222 million before tax adjustments.

The company treats cryptocurrency as an intangible asset with an indefinite useful life. Valuation is performed at fair value, which is tied to exchange prices.

Despite the sizable impairment, it was a relatively small item in Tesla's overall results. For Q1, the company reported revenue of $22.39 billion — up 16% year-on-year. GAAP operating income was $941 million, and free cash flow was $1.44 billion.

Non?GAAP earnings per share, excluding one-offs, were $0.41. That beat analysts' expectations and, according to reports, supported after-hours share gains.

Key takeaways

Tesla confirmed it held steady on Bitcoin in Q1 2026: 11,509 coins remained on the balance sheet, and no trading was needed to reflect market moves in the financials. The drop in the cryptocurrency's price led to a $173 million after-tax impairment — an important reminder of digital?asset volatility and accounting revaluation risk.

Traders may want to watch similar corporate events: changes in the value of Bitcoin held by companies with large holdings often affect short-term market sentiment and can amplify price moves.

Apple accelerates home and wearables ecosystem: Bloomberg lists six new product directions

According to Bloomberg reporter Mark Gurman, Apple is developing work in six major product directions that could significantly expand its device lineup — from wearables to home automation.

In an interview on the TBPN tech podcast, Gurman consolidated previously published details and outlined the most complete picture to date of the company's hardware plans ahead of a leadership transition.

Gurman singled out a smart home display known in the industry as "HomePad." He believes this device is closest to market launch. The display is expected to have a roughly seven-inch touchscreen and an A18 chip. Significant emphasis is expected on deep integration with Apple Intelligence and Siri.

According to earlier reporting by Gurman, HomePad and several other home products — including an updated Apple TV and HomePod mini — have long been sitting in warehouses, but their release was delayed while updated Siri software was finalized. Current projections put HomePad's likely unveiling at the September iPhone 18 event.

A second major item is a security camera with the internal code name J450. Gurman says its release is planned for this year. The device is described as a small, portable sensor focused on home security, expected to include face recognition and infrared sensors.

The camera is envisioned not only as a surveillance device but also as a component of home automation. Use cases Gurman mentions include turning off lights in empty rooms and playing music tailored to a specific family member.

He also reports Apple may launch a whole line of cameras, possibly including a video doorbell with Face ID.

Key takeaways

The market gets a clear signal: Apple is betting on expanding its ecosystem beyond smartphones and laptops, strengthening smart home and security segments while accelerating wearables and household devices.

HomePad looks like the most likely near?term product launch, and the J450 security camera is one of the key releases "this year" that could set the tone for a broader product line.

If you want to trade on market moves driven by tech sector news, note that the instruments mentioned in the article are available on InstaForex. Open a trading account on the platform, and for greater convenience, download the company's mobile app.

The EUR/USD currency pair may experience much more volatility next week than it

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