Weekly News 17.02 — 21.02.2020

Introducing the most complete review of the upcoming week from analysts Olymp Trade

Among important news of the week, we can highlight cryptocurrency sale in a public action, statistics on Germany’s economy, and expectations of resuming economic activity in China.


Major Events on the Economic Calendar

  • Zew Economic Sentiment Index will be released in Germany on February 18.
  • US Producer Price Index (PPI) will be released on February 19.
  • The Philadelphia Federal Index will be released on February 20.
  • Germany will release data on manufacturing PMI on February 21.


February 17. Zuckerberg Meets EU Digital and Industry Chiefs

Facebook CEO Mark Zuckerberg is to discuss new rules to govern the work of digital companies with the EU’s representatives. Zuckerberg will meet European Competition and Digital Commissioner Margrethe Vestager, Internal Market Commissioner Thierry Breton, and justice chief Vera Jourova.


February 18. Bitcoin in a Public Auction

More than 4000 bitcoins will be auctioned at market rate by the US Marshals Service. The cryptocurrency was previously seized from criminals. It is going to be the first time Marshals Service holds such an auction since 2018. The practice of putting the seized cryptocurrency on the auction has already been applied in the US and UK.


February 19. Telegram ICO

On this day, the Security and Exchange Commission (SEC) hearing against Pavel Durov’s crypto project Gram is to take place in the US. By this time, the court must have received the US Commodities Futures Trading Commission’s (CFTC) answer whether the Gram token is a security or not.


February 21. “Epidemic Holidays” are Over

The government ban on economic activities in Hubei province is valid until February 20. The region remains the epicenter of the COVID-19 coronavirus spread. However, if the epidemic declines the economic activity in the province and China will begin to recover.

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