Home Currency News Daily Update

Exchange Rate Forecasts

Daily Update Forecasts

The Pound plummeted versus the majors again on Friday in reaction to news that British consumers reined in their spending at the start of the year. Compared to forecasts of +0.7%, the monthly UK retail sales (excluding auto fuels) index printed at -0.2% in January. The lowly figure came hot on the heels of a [...]

Read more



Breaking News: UK Retail Sales Bomb, Pound Drops

Posted by:
Date: February 17th, 2017.

The Pound dropped to 1.16 against the Euro and lost over 0.5% against the US Dollar following the release of the UK’s retail sales figures for January. It had been forecast that monthly retails sales would print at 0.7% in January after falling by -2.0% in December, but sales actually slumped by -0.3% month-on-month. Sales [...]

Read more



Can the Pound end the week stronger?

Posted by:
Date: February 17th, 2017.

The Pound struggled against most of the majors yesterday as investors continued digesting data released earlier in the week showing that inflation rose slightly slower-than-anticipated in January and that real wage growth hit a two-year low in the fourth quarter of 2016. The only major UK ecostat due for release today is the January retail [...]

Read more



The Pound weakened versus most of the majors yesterday following news that UK real pay growth succumbed to a two-year low in the fourth quarter of 2016. The headline unemployment rate remained at an 11-year low of 4.8% and the number of people in work jumped 37,000 to 31.84 million – an all-time high! But [...]

Read more



Sterling Love Affair Ends

Posted by:
Date: February 15th, 2017.

Investors’ recent love affair with the Pound ended yesterday following January’s CPI numbers. Although the UK headline rate of inflation struck a two-and-a-half-year high, the 1.8% score missed estimates of 1.9% and this set off a period of sharp Sterling selling. The latest rise in inflation came as a result of rising oil and fuel [...]

Read more



Can the Pound Extend Gains Today?

Posted by:
Date: February 14th, 2017.

The Pound performed well at the start of this week’s session due to optimism that this morning’s UK CPI report could strike a new two-and-a-half-year high, which some analysts reckon could pre-empt a more hawkish tone from the Bank of England. British price pressures hit a two-year high of 1.6% in December and markets believe [...]

Read more



Sturdy UK Data Supports Sterling

Posted by:
Date: February 13th, 2017.

Robust UK data helped Sterling maintain its recent gains versus some of the majors on Friday. Manufacturing, industrial production, construction output, trade balance and GDP forecast reports all printed higher-than-anticipated. The most pleasing readings for holders of the Pound were the overachieving manufacturing and industrial production figures for December, which were seen to bode well [...]

Read more



The Pound put in a disproportionately positive performance yesterday morning in reaction to news that UK house prices accelerated from 23% to 25% in January, beating forecasts of 22%. Sterling slowly gave back some of its gains during the afternoon, however, when hawkish Bank of England policymaker Kristin Forbes announced that she was leaving her [...]

Read more



Demand for the Pound remained steady yesterday as markets continued to look more favourably on Sterling following hawkish comments from the Bank of England. The UK currency has registered gains versus most of the majors over the last few days thanks to BoE policymaker Kristin Forbes’ suggestion that Threadneedle Street may need to hike interest [...]

Read more



Sterling Rallies Across The Board

Posted by:
Date: February 8th, 2017.

The Pound strengthened versus most of the majors yesterday afternoon following a couple of positive developments. Demand for Sterling picked up after Bank of England policymaker Kristin Forbes broke ranks from the bank’s prevailing view that interest rates would probably remain at rock-bottom levels for the foreseeable future. Forbes suggested that if the economy remains [...]

Read more



© TorFX. Unauthorised copying or re-wording of this blog content is prohibited. The copyright of this content is owned by Tor Currency Exchange Ltd. Any unauthorised copying or re-wording will constitute an infringement of copyright.