Bloomberg With Bitcoin trading below $7,000, technical indicators show it’s nearing a key inflection point. Based on its drop over the past week, the biggest cryptocurrency is drifting in a narrow trading band, with support at $6,500 on the downside and strong resistance at $7,000 on any potential increases. However, the GTI Vera Convergence Divergence Indicator, which measures up and …

Bloomberg China’s central bank injected medium-term funding into the financial system on Wednesday and cut the cost of the funds as expected, bolstering measures aimed at countering the economic fallout from the coronavirus pandemic. The People’s Bank of China offered 100 billion yuan ($14 billion) via the one-year medium-term lending facility, cutting the rate to 2.95% from 3.15%. The reduction …

Bloomberg More than one in ten mortgage borrowers in the UK have taken a payment holiday, less than a month after banks offered relief to those affected by the coronavirus pandemic. About 1.2 million customers were granted a mortgage holiday between March 17 and April 8, according to lobby group UK Finance. Banks trebled the number of breaks they gave …