Currency News

Home Currency News

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.

AUD/GBP Weakens despite Just 0.2% UK GDP Growth

Posted by on May 26th, 2017.

With the US Federal Open Market Committee (FOMC) committee minutes confirming that a near-term rate hike is likely, there was little demand for the risky Australian Dollar. The ‘Aussie’ slumped versus its peers, with losses accelerated by cool sentiment on the commodity markets. Additionally, analysts claimed that the recent worse-than-expected contraction in construction work done [...] Read more

Major Currencies Sluggish Before Key FOMC Meeting Minutes

Posted by on May 25th, 2017.

The Australian Dollar was on lacklustre form yesterday as markets awaited the key US monetary policy meeting minutes from the Federal Reserve. Additionally, data was underwhelming, giving traders little incentive to buy into the ‘Aussie’. The Westpac leading index declined -0.12% month-on-month in April, suggesting a slowdown in the economy is ahead, while construction work [...] Read more

AUD Slumps on Weaker-than-Expected CPI

Posted by on May 24th, 2017.

Strength in global steel production, combined with a soft US Dollar, sent the Australian Dollar on a bullish advance yesterday. According to the World Steel Organisation, year-on-year steel production increased 4.6% in March, while first-quarter production rose 5.7% compared to the same period in 2016. This has kept demand for iron ore – Australia’s principle [...] Read more

Strong Commodity Prices Support AUD Higher

Posted by on May 23rd, 2017.

The Australian Dollar was supported by strong commodity prices yesterday. The Bloomberg Commodity Index was posting gains of 0.7%, reflecting strong market demand. Most importantly for Australia was the news that iron ore prices had ended last week at a two-week high of US$62.69 after gains of 1.8%. This marked a recovery of 4.2% on [...] Read more

AUD Mixed as US Political Jitters Continue

Posted by on May 22nd, 2017.

The Australian Dollar was on mixed form on Friday, making solid gains against many of its peers but weakening versus the Pound and the Euro. There was a lack of fresh economic data, but the weakness in the US Dollar, thanks to continued political concerns, boosted commodity prices. Additionally, the continued clampdown on polluting Chinese [...] Read more

Pound Advances after Retail Data Smashes Forecasts

Posted by on May 19th, 2017.

The Australian Dollar was on strong form yesterday after the latest labour market data significantly beat expectations. Employment was expected to have grown by 5,000 in April, but instead increased 37,400. The unemployment rate had been pegged to hold at 5.9%, yet actually decreased to 5.7%. The only dampener was that the economy actually shed [...] Read more

White House Scandal Pressures US Dollar

Posted by on May 18th, 2017.

Risk appetite weakened sharply in the wake of the latest political developments in the US, putting renewed pressure on the ‘Aussie’. Investors were also discouraged to find that the Westpac consumer confidence index had weakened in May, suggesting that the domestic economy remains in less-than-robust health. The appeal of the Australian Dollar also remained limited [...] Read more

‘Aussie’ Trends Higher after RBA Minutes

Posted by on May 17th, 2017.

While the Reserve Bank of Australia’s (RBA) latest meeting minutes were not particularly hawkish in nature, the mood towards the ‘Aussie’ remained positive on Tuesday. Markets are still confident that the central bank will leave interest rates on hold for the foreseeable future, meaning that the chances of an interest rate cut remain limited. With [...] Read more

Australian Dollar Strengthened by Chinese Infrastructure Plans

Posted by on May 16th, 2017.

While Australian home loans were found to have contracted once again in March the ‘Aussie’ remained on an uptrend across the board. The Australian Dollar instead benefitted from a wider improvement in market risk appetite, spurred by China’s announced ‘Belt and Road’ initiative. News of this substantial infrastructure project prompted a fresh rally in commodity [...] Read more

AUD Bullish on USD Weakness and Increased Consumer Spending

Posted by on May 15th, 2017.

There were several positive factors boosting the Australian Dollar on Friday. What little domestic data there was printed well, with a strong rise in credit card purchases suggesting that consumers were in the mood to spend more – which bodes well for inflationary pressures. Additionally, US data was poor, weakening appetite for the safer asset [...] Read more