Financial News – Wednesday, 30 January 2019
- 30 January 2019
- Posted by: Vincenzo Stefanini
- Category: Financial News
These are the most important news, in the financial markets, for today, in my opinion.
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Table of Contents
Newsletter
FINANCIAL MARKETS
Tim Cook hints at cheaper iPhones as Apple reveals first sales drop in two years
Apple has revealed its first sales drop in more than two years and warned of further falls in the coming months as it confirmed that its iPhone business had gone into decline.
The company revealed that revenues in the final three months of 2018, its traditionally lucrative Christmas period, had fallen by 5pc to $84.3bn (£64.5bn).
Tim Cook, Apple’s chief executive, suggested that consumers outside of America could benefit from cheaper iPhone prices in future as he said the company could reverse a policy of pricing its phones in dollars, rather than local currencies.
The news served as more evidence that iPhone sales may have peaked as the global smartphone market saturates and existing users upgrade their phones less regularly. Consumers are holding on to their old devices for longer as newer versions of the smartphone offer fewer of the must-have features they once did.
Fed rate decision and US-China talks to impact markets today
The Federal Open Market Committee will be announcing its first rate decision for 2019 today at 19:00 GMT, followed by a press conference with Fed chair Jerome Powell. Expectations are that the Fed will not raise rates today. US markets could be further affected by the US-China trade talks, which start today in Washington.
U.S., China Resume Trade Talks
The United States and China will hold two days of talks in Washington in what will be the highest-level discussions since U.S. President Donald Trump and Chinese President Xi Jinping agreed a 90-day truce in their trade war in December.
May wins Brexit vote
A rare win for the British PM as Members of Parliament yesterday voted to give her the option to amend her Brexit proposal and bring it to another vote. However, members of the EU have made it clear that they are not willing to change the existing Brexit deal.
COMMODITIES
Oil continues to climb
After registering noticeable gains yesterday, oil markets continued to climb today, as US sanctions against Venezuela could cause supply concerns.
Gold at 8-month high
Due to expectations that the Fed will not be raising rates today, the safe haven asset continued to show gains, climbing to an 8-month high.
CRYPTOCURRENCIES
Cryptocurrencies show slight recovery: After several losing sessions, the crypto market registered small gains over the past 24 hours, as 8 of the top 10 cryptos were seen higher at the time of writing. Bitcoin climbed around 1%, still trading below the $3,500 mark.
Bitcoin Eyes Minor Price Bounce But Bear Trend Intact
Bitcoin (BTC) has recovered slightly from six-week lows seen yesterday and could see a short-term corrective bounce to $3,500.
Read more at http://cryptobreaking.com/bitcoin-eyes-minor-price-bounce-but-bear-trend-intact/
Saudi Arabia, UAE Aim to Cut Payments Costs With Common Digital Currency
The central banks of Saudi Arabia and the United Arab Emirates (UAE) have jointly launched a digital currency trial.
The Saudi Arabian Monetary Authority (SAMA) and the Central Bank of the UAE jointly announced Tuesday that the project is aimed to facilitate blockchain-based financial settlements between the two countries.
Read more at http://cryptobreaking.com/saudi-arabia-uae-aim-to-cut-payments-costs-with-common-digital-currency/
Tether Steals Fourth As Crypto Markets Slump
Stablecoin Tether (USDT) has become the fourth largest cryptocurrency by market cap on Monday, as the bear cycle pushes investors towards preserving value.
Iran in Talks With 8 Countries for Use of Cryptocurrency in Financial Transactions
Iran is exploring various options, including holding negotiations with other countries to introduce cryptocurrency in global trade, as the Islamic state moves to sidestep U.S. economic sanctions.
Read more at http://cryptobreaking.com/iran-in-talks-with-8-countries-for-use-of-cryptocurrency-in-financial-transactions/
More news on cryptocurrencies at http://cryptobreaking.com
