Cable Holds Above 1.40 After PMI Miss

UK Services PMI for March missed expectations, falling to 51.7 and marking the weakest rise for 20-months amid disruptions due to snow and bad weather. The Purchasing Managers’ Index (PMI) is a measure of the economic health of the manufacturing sector. After four days of gains, Cable (GBP/USD) slipped modestly in reaction to the news. Price … Read more

AUD/NZD Slides to Fresh 2018 Lows After RBA Leaves Rates Unchanged

AUD/NZD fell to its lowest levels since July of 2017 in early trading on Wednesday. After the Reserve Bank of Australian (RBA) left interest rates unchanged as expected on Tuesday, the Aussie lost ground to both the New Zealand and Canadian dollars. The New Zealand dollar was lifted on Tuesday as prices for whole milk powder (WMP), … Read more

Head and Shoulders Pattern Forming in USD/CAD

A Head and Shoulders Top (bearish reversal pattern) appears to be forming on the USD/CAD daily chart, pictured above. The pattern appears after an uptrend and is defined by three successive peaks, with the middle peak (head) being above the other two (shoulders). The successive lows after the peaks of the left shoulder and head … Read more

Gold and Silver Tick Higher as Trade Tensions Loom

Safe haven assets Gold and Silver have surged higher in early Monday trading. The rally comes on the heels of Sunday’s news that China added extra tariffs of up to 25% on 128 U.S. products including frozen pork, wine and certain fruits and nuts. The move from Beijing was made in response to U.S. tariffs … Read more

Bitcoin Battered Below 7K, Cut in Half for 2018

Bitcoin, the world’s largest cryptocurrency by market capitalization, fell to fresh lows below $7,000 in early trading on Friday, reaching its lowest levels since early February. Bitcoin has now lost approximately 50% of its value in 2018. The move comes after the price of Bitcoin rallied 1,400% in 2017. Regulatory uncertainty has pressured cryptocurrencies in 2018. … Read more