Micro-investing is a new form of investing that has only recently sprung out of the fintech sector. The way micro-investing works is you link your bank cards up with your micro-investing app so that every time you spend money, the app automatically rounds up your purchase to the nearest dollar and then takes that small amount and puts it into a pre-agreed diversified investment portfolio for you on your behalf.
This process is fully automated and thus allows individuals with little financial markets knowledge, as well as those who can only afford to put small amounts of money aside for investing, to become investors. Moreover, due to the power of compounding interest, the [...]
Key PointsThe British Pound after struggling to clear the 1.2960-80 resistance area against the US Dollar moved down. The GBPUSD pair broke a major support trend line at 1.2890 formed on the hourly chart. In China today, the Caixin China Services PMI™ for April 2017 was released by Markit Economics. The result was below the forecast, as the China Services PMI posted a decline from the last reading of 52.2 to 51.5 in April 2017. GBPUSD Technical Analysis
The British Pound traded with a positive bias this past week and moved above the 1.2920 resistance area against the US Dollar. However, the pair failed to test the 1.3000 level, and traded as high as 1.2965. Later, it moved [...]
Key PointsThe US Dollar moved towards 1.3650 against the Canadian Dollar before finding resistance. The USDCAD pair moved down, and broke a bullish trend line at 1.3557 on the hourly chart. Recently in Canada, the Retail Sales for Feb 2017 (MoM) was released by the Statistics Canada. The outcome was below the forecast, as there was a decline of 0.6% in sales in Feb 2017. USDCAD Technical Analysis
The US Dollar moved nicely and traded towards 1.3650 against the Canadian Dollar. The USDCAD pair traded as high as 1.3647 where it faced offers, and started a downside move.
The pair traded lower, and broke the 23.6% Fib retracement level of the last wave from the 1.3411 [...]
Key PointsThe US Dollar after nosediving towards the 108.20 level against the Japanese Yen found support. There USDJPY pair is currently recovering, but facing a major bearish trend line at 109.10 on the hourly chart. Earlier today in Japan, the Merchandise Trade Balance Total for March 2017 was released by the Ministry of Finance. The outcome was better than the forecast, as there was a trade surplus of ¥614.7B, more than the forecast of ¥575.8B. USDJPY Technical Analysis
The US Dollar was under a lot of pressure against the Japanese Yen this past week, as it traded below the 108.50 support for a new weekly low of 108.17. Later, the USDJPY pair gained bids around 108.20, [...]