Market News, November 19 , 2019 CYPTOCURRENCY MARKET NEWS (News No. 83) 1. Focus of Financial Information and Market What’s latest news and headlines around the world related to the state of the global economy? Follow this crypto currencies newsletter to get all updates. Anger Over SNB’s Negative Rates May Get Worse, Deloitte Says Powell meets Trump, Mnuchin to discuss economy in rare sit-down China private firms shun U.S. as investment, IPO destination, survey shows Stocks hit record highs Monday before closing little changed as investors assessed mixed signals around U.S.-China trade talks Report: George Bush’s Brother Got $300K for Meeting With OneCoin’s ‘Cryptoqueen’ German airline Hahn Air issues first blockchain-based tickets Opera-Backed Fintech OPay Seals $120M Investment to Grow Across Africa China’s Army Considering a Blockchain Rewards System IZIChain Swap Crypto go live IZIChain Swap Crypto
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Market News, November 19 , 2019
CYPTOCURRENCY MARKET NEWS
(News No. 83)
1. Focus of Financial Information and Market
What’s latest news and headlines around the world related to the state of the global economy? Follow this crypto currencies newsletter to
get all updates.
Anger Over SNB’s Negative Rates May Get Worse, Deloitte Says
Powell meets Trump, Mnuchin to discuss economy in rare sit-down
China private firms shun U.S. as investment, IPO destination, survey shows
Stocks hit record highs Monday before closing little changed as investors assessed mixed signals around U.S.-China trade talks
Report: George Bush’s Brother Got $300K for Meeting With OneCoin’s ‘Cryptoqueen’
German airline Hahn Air issues first blockchain-based tickets
Opera-Backed Fintech OPay Seals $120M Investment to Grow Across Africa
China’s Army Considering a Blockchain Rewards System
IZIChain Swap Crypto go live
IZIChain Swap Crypto
WORLD NEWS The Degree of Influence
1
Anger Over SNB’s Negative Rates May Get Worse, Deloitte Says
The Swiss National Bank will probably face even more criticism of its sub-zero interest rates,
lessening the likelihood of policy being eased further, according to Deloitte.
“Political disputes over the interest rate policy are likely to intensify further -- both in Switzerland in
the euro zone,” said Michael Grampp, chief economist at Deloitte Switzerland. Companies, not just
banks, are increasingly airing the view that the negative policy benchmark was hurting rather than
helping the economy, he said.
The SNB’s deposit rate has been at -0.75% for almost five years, designed to keep the franc from
appreciating. While machine-makers say the negative rates are welcome, the policy has been
criticized by the financial sector for crimping returns.
Positive (+)
2
Powell meets Trump, Mnuchin to discuss economy in rare sit-down
Federal Reserve Chairman Jerome Powell met with President Donald Trump and Treasury Secretary
Steven Mnuchin Monday to discuss the economy, marking a second face-to-face sit-down this year
amid relentless White House criticism of the U.S. central bank.
Powell's comments "were consistent with his remarks at his congressional hearings last week," the
Fed said in a statement released after the meeting at the White House, adding that the gathering was
at the president's invitation.
Neutral
Powell "did not discuss his expectations for monetary policy, except to stress that the path of policy
will depend entirely on incoming information that bears on the outlook for the economy," the Fed
said.
November 18, 2019 Trump subsequently tweeted that they'd had a "very good & cordial meeting"
and had discussed a range of issues including "interest rates, negative interest, low inflation, easing,
Dollar strength & its effect on manufacturing, trade with China, E.U. & others, etc."
The dollar dropped to a session low amid gains in the euro after the news hit that negative interest
rates had been among their topics of conversation.
Powell last week called the U.S. economy a "star" performer and voiced solid confidence that its
record expansion will stay on track. He and other Fed officials have consistently said that European
or Japan-style negative interest rates would not be appropriate in the U.S.
With less than a year until the 2020 vote, the world's largest economy has been generally holding up
this year on resilient consumption. Gross domestic product increased at a 1.9% annualized rate in the
third quarter, though that was down from 2% in the second quarter and 3.1% in the opening three
months of the year.
The chairman's remarks on the economy reinforced a sense that officials judge they have done enough
to keep the economy on track after three rate cuts this year, and monetary policy is now on a prolonged
hold as long as the outlook remains favorable.
3
China private firms shun U.S. as investment, IPO destination, survey shows
Chinese private firms are shunning the United States in their overseas expansion, and generally prefer
a home listing to a U.S. initial public offering (IPO), a private survey showed on Tuesday,
highlighting the trade war’s impact on executive decision-making.
The survey is released at a time when U.S. politicians are calling for tighter scrutiny over Chinese
investment and capital-raising, while Beijing is encouraging domestic listings by Chinese companies.
Despite the trade tensions, Chinese CEOs remain committed to global expansion, but have shifted
their focus from the U.S. to Southeast Asia, Europe and Africa, according to a survey conducted
jointly by China’s prestigious Tsinghua University and Marcum Bernstein and Pinchuk LLP
(MarcumBP), a leading auditor for U.S.-listed Chinese companies.
Positive (+)
4
Stocks hit record highs Monday before closing little changed as investors assessed mixed signals
around U.S.-China trade talks
The Dow ended the day up just 31 points. The S&P 500 advanced 0.05%, while the Nasdaq closed
0.11% higher. The Nasdaq Composite and the Nasdaq 100 increased by 0.11% and 0.16%
respectively. Both hit new highs earlier in the session.
The Dow Jones ended on Monday up 20.2% on the year after falling 5.6% in 2018. The S&P 500
rose 24.5% after the 6.2% increase in 2018. Nasdaq's 2019 increase is now 28.9% after a decrease of
3.9% in 2018.
Positive (+)
Asia stocks mixed amid US-China trade uncertainty
Investor reaction to overnight developments around U.S.-China trade talks will be watched. CNBC’s
Eunice Yoon reported Monday, citing a government source, that Beijing is pessimistic about the trade
deal. China is concerned after U.S. President Donald Trump said there would be no tariff rollback,
Beijing had thought both parties had agreed in principle, Yoon reported.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 97.855,
following a decline in recent days from levels around 98.4.
The news triggered a move into traditional haven assets. The benchmark 10-year Treasury yield fell
from around 1.85% earlier in the day to 1.8%. Gold futures erased earlier losses to settle 0.2% higher
at $1,471.90 per ounce.
Brent crude oil futures contracts fell 1.67% to $ 62.24 a barrel while US light Texas crude oil lost
1.42% to $ 57.02 a barrel.
CRYPTOCURRENCIES NEWS The Degree of Influence
1
Report: George Bush’s Brother Got $300K for Meeting With OneCoin’s ‘Cryptoqueen’
Neil Bush is alleged to have received $300,000 to attend a meeting involving OneCoin co-founder
and current fugitive Ruja Ignatova, known as the "Cryptoqueen."
As Law360 reported on Nov. 15, testimony in a U.S. District Court for the Southern District of New
York contained allegations against Neil Bush, brother of former President George W. Bush and son
of the late President George H.W. Bush.
Neutral
2
German airline Hahn Air issues first blockchain-based tickets
German airline Hahn Air, which offers scheduled and charter flights within Europe, announced on
Monday it has issued the first airline tickets enabled by blockchain technology, in partnership with
Winding Tree, an open-source travel distribution platform.
Hahn Air on Monday flew passengers holding blockchain-powered tickets on its scheduled flight
from Dusseldorf to Luxembourg. The first blockchain passengers are Maksim Izmaylov, Founder of
Winding Tree; Dave Montali, chief information officer of Winding Tree; and Frederick Nowotny,
Head of Sales Engineering at Hahn Air.
“For us, it is important to look into the future to understand how can we make distribution faster,”
Jörg Troester, Hahn Air’s head of corporate strategy and government & industry affairs, told Reuters
in a phone interview.
Positive (+)
3
Opera-Backed Fintech OPay Seals $120M Investment to Grow Across Africa
Lagos-headquartered fintech Opay has sealed $120 million in a series B financing round from a host
of high-profile Chinese investors.
Founded in 2018 by web browser developer Opera, OPay — which focuses on developing digital
payments solutions to promote financial inclusion — had previously raised $50 million in June of this
year, according to what Opera’s spokesperson told Cointelegraph.
According to a Nov. 18 report from TechCrunch, Opera’s OPay reportedly intends to use the new
Series B $120 million round to scale and extend its digital payments solution beyond Nigeria to
Kenya, Ghana and South Africa.
The round reportedly included big-name venture capital investors Sequoia China and Softbank Asia,