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 January 19th, 2018.
The Australian Dollar didn’t particularly benefit from solid employment stats released yesterday morning, despite the rosy picture painted of the labour market. Employment increased by nearly 35,000 – over double the forecast – in December, marking the first time in the history of the Australian Bureau of Statistics data that employment has risen every single [...] Read more
Posted by Louisa Heath on January 18th, 2018.
A sharp rebound in Australian home loans failed to encourage particular demand for the ‘Aussie’ yesterday, even as the measure jumped 2.1% on the month in November. While the Westpac consumer confidence index also pointed towards greater optimism within the domestic economy the mood towards the Australian Dollar soured. AUD exchange rates struggled to find [...] Read more
Posted by Louisa Heath on January 17th, 2018.
While the ANZ Roy Morgan weekly consumer confidence index strengthened further on Tuesday the mood towards the Australian Dollar turned a little more muted. Even though signs continue to point towards a more robust domestic outlook AUD exchange rates were weighed down by the resurgent strength of the US Dollar. With market risk appetite easing [...] Read more
Posted by Louisa Heath on January 16th, 2018.
# A slight dip in the TD Securities inflation gauge for December was not enough to dent the Australian Dollar at the start of the week. As the measure remained comfortably in excess of the Reserve Bank of Australia’s (RBA) 2% target range at 2.3% the negative impact of the slowdown was limited. With wider [...] Read more
Posted by Louisa Heath on January 15th, 2018.
While Australian credit card purchases picked up slightly in November this failed to boost AUD exchange rates. This latest piece of positive domestic data was eclipsed by a general decline in market risk appetite ahead of the weekend, with investors bracing for US inflation data. A weaker-than-expected rise in Chinese imports on the year in [...] Read more
Posted by Louisa Heath on January 12th, 2018.
November’s retail sales figure proved unexpectedly strong, surging 1.2% on the month as consumer spending increased. This encouraged greater confidence in the Australian economy, although it remains to be seen whether this momentum will be carried through into the crucial Christmas period. AUD exchange rates took encouragement from the data, extending their gains further on [...] Read more
Posted by Louisa Heath on January 11th, 2018.
As the Chinese consumer price index ticked up from 1.7% to 1.8% on the year in December this encouraged markets to remain in a more risk-positive mood on Wednesday. The Australian Dollar capitalised on this latest sign of strength from the world’s second largest economy, with AUD exchange rates particularly exposed to developments in China. [...] Read more
Posted by Louisa Heath on January 10th, 2018.
While Australian building approvals unexpectedly strengthened 11.7% on the month in November this failed to particularly boost AUD exchange rates. Even with the domestic housing market showing some strength this was not seen to materially improve the outlook of the wider Australian economy. Investors also dismissed a fresh uptick in the ANZ Roy Morgan weekly [...] Read more
Posted by Louisa Heath on January 9th, 2018.
A sharp dip in the Australian construction PMI weighed heavily on AUD exchange rates at the start of the week. Investors were not impressed to find that the index had retreated from 57.5 to 52.8 in December, signalling a marked loss of momentum on the month. While the sector nevertheless remained in a state of [...] Read more
Posted by Louisa Heath on January 8th, 2018.
In a disappointing development the Australian trade balance fell significantly short of forecasts to show a deficit of -628 million in November. As the October figure was also revised down this marked the end of Australia’s recent streak of trade surpluses, suggesting that the economy is in a less robust state than previously thought. This [...] Read more