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 Rewan Tremethick on July 22nd, 2016.
The Pound slumped yesterday, after worse-than-expected retail sales took traders by surprise. The monthly decline in June clocked in at -0.9%, while annualised sales slowed from a downwardly-revised 5.2% to 3.9%, nearly a whole percentage point below predictions. The only positive here was that the decline in sales was attributable to poor weather, not the [...] Read more
Posted by Oliver Meredew on July 21st, 2016.
The Euro to South African Rand exchange rate has been performing poorly this week due to faltering confidence in the Eurozone. With domestic concerns have been driving the Euro, Rand direction has been dictated by global sentiment. As evidence of how dramatically the Euro has fallen against the Rand, the single currency began the week [...] Read more
Posted by Josh Ferry Woodard on July 21st, 2016.
The Pound rallied yesterday in response to a statement from the Bank of England’s network of regional agents, who speak to business owners across the country to gauge how the economy is performing. The encouraging report showed that although business uncertainty had ‘risen markedly’ and demand for credit was cooling, the majority of companies did [...] Read more
Posted by Ollie Carpenter on July 20th, 2016.
Although the Pound to Euro exchange rate is still holding a weaker level than pre-Brexit, Sterling has steadily recovered a large chunk of losses. Although the Euro wasn’t adversely impacted by Brexit initially, the threat of contagion and EU instability has seen the single currency dampen considerably of late. On Wednesday the Pound extended gains [...] Read more
Posted by Josh Ferry Woodard on July 20th, 2016.
Although there were some British troublemakers in France last month, the grand majority of English, Welsh and Northern Irish fans who travelled to the European Championships did so for all the right reasons. Most probably didn’t expect all three to reach the second round, fewer still would have predicted that England would be knocked out [...] Read more
Posted by Oliver Meredew on July 19th, 2016.
The past few days have seen some extreme movements in the Pound Lira exchange rate, with the weekend bringing political turmoil in Turkey which affected the value of its currency dramatically. Meanwhile, the UK’s currency has gotten off to a shaky start this week. While the Pound was boosted on Monday, it has since fallen [...] Read more
Posted by Ollie Carpenter on July 19th, 2016.
With swap traders pricing in a 77% chance that the Reserve Bank of New Zealand (RBNZ) will cut the overnight cash rate on 11th August, there is a high likelihood that New Zealand Dollar exchange rates will decline over the coming week. Although New Zealand Dollar exchange rates are expected to weaken over the coming [...] Read more
Posted by Josh Jeffery on July 19th, 2016.
The Pound to Canadian Dollar exchange rate has experienced heavy fluctuations over the last week due to mixed news from both the UK and Canada. While Sterling jumped on multiple occasions last week, a relatively hawkish Bank of Canada (BOC) left GBP/CAD below the key level of 1.73. At the time of writing, the pair [...] Read more
Posted by Josh Ferry Woodard on July 19th, 2016.
The Pound received a boost yesterday when news hit the wires that Japan’s Softbank had launched a successful bid to purchase UK chip designer ARM. The deal is worth £24.3 billion, which is equal to around a quarter of the UK’s annual trade deficit. The incoming packet of Sterling currency sent the Pound higher and [...] Read more
Posted by Josh Ferry Woodard on July 18th, 2016.
The Pound to Euro exchange rate strengthened by over two cents last week in reaction to the Bank of England’s surprise decision to leave rates on hold through July. GBP/EUR began last week’s session at around 1.17 and rose to 1.20 by Wednesday as markets rallied in reaction to the appointment of Theresa May as [...] Read more