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 February 24th, 2017.
Data released yesterday morning showed that UK retail sales rebounded in February following a worrying contraction at the beginning of the year. The Pound rallied across the board despite warnings from analysts that retail trends are likely to slow over the coming months. The Confederation of British Industry (CBI), who speaks for 190,000 businesses reported [...] Read more
Posted by Rewan Tremethick on February 23rd, 2017.
An underwhelming response from investors to the latest estimates for UK GDP continues to keep the GBP TRY exchange rate near a seven-week low today. After already clocking in above forecast in the preliminary figures, UK 2016 Q4 GDP was revised higher to 0.7% in the second round of estimates. The Pound was not impressed, [...] Read more
Posted by Josh Ferry Woodard on February 23rd, 2017.
Having bought the Pound on Tuesday afternoon ahead of yesterday’s UK GDP report, traders cashed in on Sterling’s appreciation by selling the UK currency following the fourth quarter growth report. The Office for National Statistics (ONS) upgraded quarterly growth from 0.6% to 0.7%, but revised down annualised GDP from 2.2% to 2.0%. Notable takeaways from [...] Read more
Posted by Rewan Tremethick on February 22nd, 2017.
The Pound Euro exchange rate hit its highest level in 2017 at the beginning of today’s session as traders expected positive GDP figures for the final quarter of 2016. However, Sterling quickly retreated from that level once the data was released. Although quarter-on-quarter growth was revised higher to 0.7%, year-on-year growth was revised lower to [...] Read more
Posted by Josh Ferry Woodard on February 22nd, 2017.
Despite a neutral message from Bank of England Governor Mark Carney the Pound managed to rally versus most of the majors yesterday ahead of this morning’s UK GDP report. The BoE Chief kept his cards close to his chest, suggesting that interest rates may move ’faster or slower’ than markets currently expect. The evasive responses [...] Read more
Posted by Oliver Meredew on February 21st, 2017.
The Euro has fallen against the South African Rand today but could gain considerably in the near-term against the backdrop of increasing economic volatility in South Africa and a Greek debt situation that seems resolved for the moment. Last week saw the Euro Rand exchange rate fall from 14.23 on Monday and close trading in [...] Read more
Posted by Josh Jeffery on February 21st, 2017.
The Pound to Canadian Dollar exchange rate was able to hold its ground on Tuesday after recovering most of last week’s losses at the beginning of the week. Solid UK data and mixed oil forecasts allowed GBP/CAD to hold above the week’s opening levels of 1.62 and trade at around 1.63. Sterling advanced on Monday [...] Read more
Posted by Rewan Tremethick on February 21st, 2017.
Poor UK data undermined the outlook for the UK economy, causing the GBP ZAR exchange rate to slump to a three-and-a-quarter-year low of 16.07 last week. The outlook for UK consumer spending took a battering last week thanks to a series of poor data releases. Tuesday’s consumer price index rose to 1.8% on the year [...] Read more
Posted by Josh Ferry Woodard on February 21st, 2017.
After a testing end to last week’s session, demand for the Pound picked up yesterday as traders reacted favourably to the latest Confederation of British Industry (CBI) report and to the start of the Brexit debate in the House of Lords. The CBI reported that its index of factory output struck a two-year high in [...] Read more
Posted by Matthew Andrews on February 20th, 2017.
The Pound (GBP) climbed against the Danish Krone (DKK) today as the House of Lords began debating the government’s Brexit bill. The Pound rose on Monday as traders grew increasingly optimistic about the potential for the House of Lords to make amendments to the government’s Brexit bill. The legislation will grant the government the authority [...] Read more