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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.

Daily Update: Sterling Down Ahead of Service Sector Data

Posted by on May 5th, 2016.

Demand for the Pound softened yesterday as downbeat UK construction data poured more cold water on hopes of British growth accelerating in the second quarter. Following on from April’s three-year low manufacturing score, the PMI for construction printed at its weakest level since June 2013 yesterday. The index slumped from 54.2 to 52.0 as new [...] Read more

US Dollar (USD) Exchange Rates Climb on Services Growth

Posted by on May 4th, 2016.

Prior to this week’s trade the British Pound strengthened considerably versus its major peers thanks to a relief rally amid easing ‘Brexit’ concerns. However, Sterling’s uptrend reached a plateau this week thanks to a combination of disappointing domestic data and renewed EU referendum uncertainty. Both the Manufacturing and Construction PMIs failed to meet with expected [...] Read more

Falling Metal Prices Enable GBP/ZAR Uptrend

Posted by on May 4th, 2016.

The Pound has managed to appreciate slightly against the South African Rand recently, although potentially only because of a drop off in investor appeal for the latter currency. The Rand has mainly been limited in its movement by the waning prices of nationally important precious metals. The GBP/ZAR pairing reached a weekly exchange rate high [...] Read more

GBP/CAD Rises on Oil Market Fears

Posted by on May 4th, 2016.

Data over the past seven days showed that the UK economic performance weakened in April, yet GBP/CAD managed to make strong gains as oil market fears weighed on the ‘Loonie’. The latest Market PMIs have undermined confidence in the UK economy. A shock contraction in the UK’s manufacturing index for April caused Pound Sterling to [...] Read more

Sterling Plummets Vs. Euro & US Dollar on Weak Manufacturing Data

Posted by on May 4th, 2016.

Sterling suffered sizeable losses against most of the majors yesterday as markets pulled out of the Pound in response to much weaker-than-anticipated UK manufacturing data. After three years of growth, the factory sector saw output contract in April. As a result the Markit PMI dropped to 49.2. The figure marked a considerable disappointment on forecasts of [...] Read more

AUD Exchange Rates Dive after RBA Cuts Rates

Posted by on May 3rd, 2016.

In a move that surprised many analysts, the Reserve Bank of Australia (RBA) slashed the overnight cash rate, causing Australian Dollar exchange rates to tumble. Whilst below-target inflation and an overvalued trade weighting has impacted significantly on Reserve Bank of Australia interest rate decisions in the past, few analysts predicted a -25 basis point cut [...] Read more

GBP/USD Cools After Weak Manufacturing Figures

Posted by on May 3rd, 2016.

The Pound to US Dollar exchange rate recently reached its highest level since the first week of 2016. However, GBP/USD has fallen back during today’s session in response to weak British data. Sterling rallied to a two-month high just north of 1.46 last Monday as the Pound absorbed funds from traders looking to reevaluate the [...] Read more

Sterling Slides From 5-Week High on Poor Manufacturing PMI

Posted by on May 3rd, 2016.

The Pound reached a five-week high against the Euro last week as pollsters predicted that Britain would not vote to leave the European Union at next month’s referendum. Optimism carried over from the previous week pushed Sterling higher last Monday. ‘Brexit’ bets had been cut after US President Barack Obama warned it could take ten [...] Read more

Pound Sterling Triumphs against New Zealand Dollar on Milk Prices

Posted by on May 3rd, 2016.

The Pound has been in a relatively strong position against the New Zealand Dollar and other peers recently, despite continued referendum concerns. The New Zealand Dollar has been laid low by a continuing disappointment in the price of milk; a nationally important commodity. The Pound has been stable against its competitors lately, potentially owing to [...] Read more

Daily Update: ‘Cable’ Hits 5-Month High

Posted by on May 3rd, 2016.

The Pound performed relatively well over the Bank Holiday weekend versus some of the majors, but slipped against others. The ‘Brexit’ debate continued as Standard & Poor’s affirmed Britain’s triple-A credit rating but noted a vote to leave the EU would likely hurt growth, make servicing the deficit more expensive and lead to a ratings [...] Read more