TorFX

Forex »

[21 Sep 2016 | No Comment | ]

The EURUSD was steady on Wednesday as it anticipates the US Federal Reserve monetary policy decision, while adjustments to the BoJ monetary policy meant the Yen was in a volatile state on morning trading.
There is a strong sense of anxiety around the markets today, not only in Foreign Exchange but also stocks and commodities.
It’s no surprise that traders are watching closely the decision by the Fed, whose monetary policy committee (FOMC) will announce at 1800 GMT if it leaves rates unchanged, following two days of meetings.
It seems that a rate …

Forex »

[1 Feb 2016 | No Comment | ]

The Euro is gaining ground versus the US dollar during the morning sessions in Europe. The exchange rate moved up to 1.086 dollars, higher than the close of 1.083 dollars on Friday evening. It’s the start of a busy week with statistics, especially with the US employment report on Friday.
The US dollar is currently under strong pressure against major currencies like the euro and a continuation of the upward trend cannot be achieved only through excellent job figures. Investors may see good numbers of non-agricultural jobs as a positive sign …

Forex »

[7 Dec 2015 | No Comment | ]

The British Pound remains under pressure against the US Dollar after a week of fairly positive data over stateside, with Non Farm Payrolls adding 211k above analysts expected 200k forecast. Labor force participation also rose by a tenth of a percentage point to 62.5%.
With some mixed but slightly negative data last week for GBP, with Manufacturing PMI down, Construction PMI down but Services PIM up, the Pound looks weak and could well be heading down to take out last week lows of 1.4894.
“The NFP number will be seen as positive …

Forex »

[16 Nov 2015 | No Comment | ]

The euro was pushing slightly lower against the US dollar in morning trading, the single currency being affected by the terrorist attacks that have hit Paris over the weekend. The events of this weekend could have a greater economic impact on tourism and consumer spending over the weeks running up to the end of year celebrations.
There is a very real threat of current events pushing France back into recession, which could ignite new ECB intervention. France is the second largest economy in the Eurozone.
GBPUSD closed down slightly on Friday’s session …

Forex »

[9 Nov 2015 | No Comment | ]

Since last Thursday’s interest rate decision, GBP has failed to show any strength against any of the major currencies. Falling through short term support levels and looking to test lower levels. Conversely the US Dollar looks in a buoyant mood again since the non-farm payroll figures on Friday.
The non-farm payroll data trumped forecasts with a whopping 271k versus forecast 181k. Unemployment rate stayed unchanged at 5%.
It seems the trend for US Dollar (up) and British Pound (down) may stay in those general directions, with some retraces, until the unemployment figures …

Forex »

[22 Oct 2015 | No Comment | ]

Many economists forecast steep inflationary growth in the UK over the coming months with the effects from weak commodity prices and falling university fees tailing off. As a result, some analysts are going so far as to predict that the Bank of England (BoE) could increase the benchmark interest rate ahead of the Federal Reserve. This has seen the Pound edge higher versus its major peers on Thursday morning. British Retail Sales data, due for publication later on Thursday, has the potential to provoke volatility for the Pound. Should the …