TorFX market updates provide analysis of various exchange rates in order to keep our clients up-to-date with the latest currency news.
By keeping our clients informed, we can enable them to take full advantage of the foreign exchange rate trends, helping them to achieve the maximun return when they decide to trade their chosen currency.
Posted by Josh Ferry Woodard on May 26th, 2017.
An unexpected downgrade to first quarter growth weighed on Sterling yesterday, prompting mild losses against most of the majors. The Office for National Statistics’ (ONS) latest report saw quarterly growth revised down from 0.3% to 0.2%. When looked at in closer detail the economy only eked out an expansion of 0.18%, which is the weakest [...] Read more
Posted by Josh Ferry Woodard on May 25th, 2017.
With no significant new domestic data releases to contend with, Sterling traders mulled over news that Britons’ expectations for inflation ticked higher this month. The latest YouGov poll showed that the public expects consumer prices to increase by 2.6% over the next 12 months, up from 2.5% previously. However, the figure is actually lower than [...] Read more
Posted by Rewan Tremethick on May 24th, 2017.
Yesterday’s public sector borrowing figures showed government spending exceed forecasts. The deficit was already expected to widen markedly, rising to -£8 billion, but in fact overshot projections to clock in at -£9.6 billion. The fact that the government started the new fiscal year with a larger-than-expected overspend prompted a Pound-sell off, from which GBP is [...] Read more
Posted by Josh Ferry Woodard on May 24th, 2017.
Sterling stuttered yesterday morning as the UK budget deficit for April came in wider-than-expected. The Office for National Statistics (ONS) reported that the government borrowed £10.4 billion last month to balance the books. A deceleration in tax intake helped push the figure considerably higher than the market consensus of £8.9 billion, and leaves Britain’s national [...] Read more
Posted by Josh Jeffery on May 23rd, 2017.
The Pound to South African Rand exchange rate briefly dipped on Monday but by Tuesday was trending near the week’s opening levels of 17.25. Jitters about Britain’s upcoming general election faded slightly and demand for emerging-market currencies has been mixed, allowing the pair to hold its ground. Monday saw the Pound drop against the South [...] Read more
Posted by Oliver Meredew on May 23rd, 2017.
The Pound to Canadian Dollar exchange rate has fallen to its worst levels since late April today following a string of negative UK announcements. Among the factors lowering Pound demand have been a recent Conservative policy U-turn and the Manchester terror attack. In the former case, Theresa May seemingly lost face when she announced that [...] Read more
Posted by Josh Ferry Woodard on May 23rd, 2017.
The Pound got off to a rocky start this week as traders sold out of Sterling on fears that a closer-than-anticipated election could impact Britain’s ability to pursue a smooth Brexit transition. Theresa May saw her lead over Jeremy Corbyn halve to around 9-points over the weekend following a backlash over proposals to reduce state [...] Read more
Posted by Josh Jeffery on May 22nd, 2017.
After weeks of markets predicting a clean UK general election win for the Conservatives, their lead in the polls halved over the weekend, which left GBP/TRY trading lower. Despite last week’s strong UK data, investors have remained concerned about Britain’s 2017 economic outlook and low bets of any tighter monetary policy from the Bank of [...] Read more
Posted by Louisa Heath on May 22nd, 2017.
Investors were not encouraged by April’s Indian balance of trade, with the deficit found to have widened further than forecast on the month. This weakened confidence in the strength of the domestic economy, prompting a fresh round of Rupee selling. Demand for the risk-sensitive Rupee was also weighed down by the jitters surrounding political developments [...] Read more
Posted by Josh Ferry Woodard on May 22nd, 2017.
With US President Donald Trump embroiled in a number of Russia and FBI related scandals, the US Dollar tumbled to its lowest level since last September against the Pound last week. The ‘Greenback’ weakened last week in reaction to fears that President Trump could be impeached. Although such a drastic move is a long way [...] Read more