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 October 28th, 2016.
The Pound rallied initially yesterday when third quarter GDP data showed that the British economy expanded 0.5% in the three months following the EU referendum. The Office for National Statistics, who compiled the report, noted there was ‘little evidence of a pronounced effect’ from the vote. The robust growth print beat estimates of 0.3% but [...] Read more
Posted by Matthew Andrews on October 27th, 2016.
The Pound to Japanese Yen exchange rate has surged to its highest levels since the Sterling flash crash earlier this month, following news that car manufacturer Nissan will be making a major investment in its factory in Sunderland as it commits to building two new car models in Britain. GBP JPY currently hovers around 128.09 [...] Read more
Posted by Oliver Meredew on October 27th, 2016.
After fluctuating in response to Brexit related news for the first half of the week, Pound Sterling (GBP) exchange rates experienced volatility following the publication of the UK’s Q3 GDP data on Thursday. While the GBP CHF exchange rate initially gained in response to the UK’s growth news, the Pound reversed gains and edged lower [...] Read more
Posted by Josh Ferry Woodard on October 27th, 2016.
The Pound strengthened across the board yesterday thanks to comments from junior ‘Brexit’ minister David Jones suggesting that both houses of parliament would get the chance to examine the government’s post-‘Brexit’ trade deal. The news hammered home the point made last week by a High Court lawyer, that any new EU trade deal would need [...] Read more
Posted by Oliver Meredew on October 26th, 2016.
The Australian Dollar has kept to its winning streak against the US Dollar so far this week, despite the handicap of not having much domestic data to rely on. The US Dollar has continued to fluctuate overall, though future advances could well be in store given the current odds assigned to a December Fed interest [...] Read more
Posted by Matthew Andrews on October 26th, 2016.
The Pound to Indian Rupee exchange rate fell to a fresh three-year low on Tuesday as investors reacted to the possibility that the UK economy could be line for further financial stimulus. The pairing dropped to 80.82 at one point before stabilising at around 81.60 on Wednesday morning. Investors fled from the Pound on Tuesday [...] Read more
Posted by Josh Jeffery on October 26th, 2016.
The Pound to Norwegian Krone exchange rate advanced last week and could be on track to see another week of gains thanks to a continued slip in oil prices, despite Tuesday’s Pound selloff. At the time of writing, GBP/NOK was trending just above the week’s opening levels of 10.09 after recovering from Tuesday’s drop. Pound [...] Read more
Posted by Louisa Heath on October 26th, 2016.
UK retail sales disappointed in September, suggesting that consumer demand has begun to weaken even before higher inflation feeds through into the wider economy. Coupled with a sharp increase in new government debt, this news encouraged Pound losses. Further Pound Sterling volatility is expected in response to the third quarter UK GDP report, the first [...] Read more
Posted by Josh Ferry Woodard on October 26th, 2016.
The Pound plummeted across the board yesterday as comments from UK Chancellor Phillip Hammond provided traders with ammunition for another devastating bout of Sterling selling. Hammond noted that the government has never refused a Bank of England request for quantitative easing in the past and suggested that there was no reason why circumstances would be [...] Read more
Posted by Louisa Heath on October 25th, 2016.
Investors were not encouraged to see that the South African inflation rate had risen from 5.9% to 6.1% on the year in September. This frustrated the South African Reserve Bank’s (SARB) attempts to curb inflationary pressure, suggesting that a further interest rate hike could be on the way. With tighter monetary policy failing to get [...] Read more