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 Rewan Tremethick on April 25th, 2017.
There was no Australian data released yesterday, but the Australian Dollar was largely on the rise. The ‘Aussie’s decline following last week’s dovish Reserve Bank of Australia (RBA) meeting minutes had bottomed out, with investors enticed by the low valuation of AUD to speculate on the high-risk currency. Additionally, Japan’s Finance Minister Taro Aso commented [...] Read more
Posted by Rewan Tremethick on April 24th, 2017.
A surge in iron ore prices inspired investors to return to the Australian Dollar on Friday. The commodity had declined significantly earlier in the week, but prices bounced back 7% as the weekend approached. Although US President Donald Trump ordered a trade probe into nations like China that export cheap steel to the US, reigniting [...] Read more
Posted by Louisa Heath on April 21st, 2017.
A steady NAB business confidence index encouraged the ‘Aussie’ to make gains against many of its rivals on Thursday. With optimism in the outlook of the domestic economy boosted and safe-haven demand softening the antipodean currency benefitted. This helped to ease worries that the Reserve Bank of Australia (RBA) will not return to a tightening [...] Read more
Posted by Rewan Tremethick on April 20th, 2017.
Geopolitical concerns, coupled with the adverse reaction to the latest Reserve Bank of Australia (RBA) meeting minutes, weakened the Australian Dollar yesterday. Donald Trump’s latest executive order attempts to put into practice some of his ‘Buy American, Hire American’ campaign rhetoric, which has sparked concerns amongst nations that trade heavily with the States. Even forecasts [...] Read more
Posted by Rewan Tremethick on April 19th, 2017.
Yesterday’s release of the Reserve Bank of Australia (RBA) meeting minutes caused the Australian Dollar to slump. The account of the April 4th meeting revealed that the RBA remained concerned by the strength of the housing market and the weakness of the labour market. This puts them in a difficult position as, while a rate [...] Read more
Posted by Rewan Tremethick on April 14th, 2017.
Strong labour market data pushed the Australian Dollar into a bullish uptrend yesterday. The employment change figure for March showed three times the estimated number of people entered the workforce, clocking in at over 60,000. Part-time employment continued to decline, with full-time employment increasing by almost 75,000. An unexpected rise in the participation rate prevented [...] Read more
Posted by Rewan Tremethick on April 13th, 2017.
The Australian Dollar was on poor form yesterday, weakening after the release of soft inflation data from China. Price growth accelerated ten basis points to 0.9%, instead of climbing to 1% as expected in March. Additionally, building fears over a steel glut saw producer price growth slow for the first time in seven months. This [...] Read more
Posted by Rewan Tremethick on April 12th, 2017.
The Australian Dollar was stuck around the day’s opening levels yesterday against most of its peers. Domestic data was largely positive, with consumer confidence and business assessment of the current economic conditions improving. However, the NAB business confidence index for March weakened from 7 to 6. Additionally, credit ratings agency Moody’s commented that their latest [...] Read more
Posted by Rewan Tremethick on April 11th, 2017.
Yesterday’s loans data disappointed investors, showing that fewer homes and businesses were taking out finance in February. This could suggest confidence in the economy is weakening, which may have a knock-on effect on employment, wage growth and consumer spending. Home loans declined -0.5% against predictions of no change, while investment lending fell -5.9% – a [...] Read more
Posted by Rewan Tremethick on April 10th, 2017.
Geopolitical concerns and firm US data kept the Australian Dollar on the decline on Friday. Markets were unsettled by the US carrying out airstrikes on Syria – the first direct military action by the country – in response to an alleged chemical attack by government forces on a rebel-held area. Russia backs the government and [...] Read more