Daily insight: Euro left riding high after better than forecast data

Friday 04 October 2013 Can't read this email? Click Here

Read our great customer feedback. Click Here For the latest news read our currency blog. Click Here 09:30 GBP Lloyds Employment Confidence (SEP) 10:00 EUR EuroZone Producer Price Index (AUG) 13:30 USD All US Economic Data Scheduled for Oct 4th Delayed by Federal Shutdown 15:00 CAD Ivey Purchasing Managers Index s.a. (SEP) Dear Subscriber, Please find below today's update which gives you an insight into the current market conditions, enabling you to keep informed and up to date on the latest currency movements. Headlines • UK services PMI dips modestly in September - prints at 60.3 • Eurozone services PMI and retail sales climb - Euro broadly strengthens • US Non-farm payrolls won't be published - Federal shutdown lumbers on • RBA still willing to reduce rates further - weaker 'Aussie' desirable. Sterling After a bullish start to the week, the Pound tripped up yesterday as UK house prices increased at a slower rate than expected and domestic services PMI came in at 60.3 in September rather than the 60.5 expected. Whilst all of this week's UK data points to a broad-based recovery - and more rapid growth than either the government or Bank of England appeared to expect - the Pound softened by the most for two weeks against the Euro as the common currency was boosted by encouraging news from the Eurozone. It also posted its first decline against the US Dollar for four days. With investors speculating that its recent rally was overdone, Sterling edged away from its nine-month high against the US Dollar in spite of the political concerns weighing on the North American asset. Euro Several pieces of better-than-forecast data left the Euro riding-high as the European session closed yesterday. The common currency gained notably on the Pound and jumped to an eight-month high against the 'Greenback' after the Eurozone's services sector expanded by more than estimated, with PMI of 52.2 in September rather than the 52.1 initially recorded. Gains were consolidated after a retail sales report for the currency bloc showed that sales declined by 0.3 per cent in August, year-on-year - considerably less than the drop of 1.5 per cent predicted. News that the Portuguese government has upwardly revised its growth forecast for 2014 following the completion of the Troika's latest review of Portugal's bailout lent the Euro additional support overnight. US Dollar With the debt ceiling fast approaching, US lawmakers failing to reach an agreement which would bring an end to the Federal shutdown and the odds of the Federal Reserve tapering stimulus falling by the day, the US Dollar was trapped in a bearish relationship with peers like the Euro yesterday. However, the 'Greenback' recovered recent losses against a broadly softening Pound as investors labelled the British currency's recent surge excessive. While the highly influential US non-farms payrolls report was scheduled for publication at 13:00 GMT today, the ongoing government shutdown is preventing its release. The report was expected to show that the US economy added 180,000 positions in September. If accurate, the result would have gone a long way to increasing the likelihood of the Fed reining in easing before the end of the year. Canadian Dollar The 'Loonie' was trading in a tight range against both the Pound and US Dollar yesterday as a lack of pertinent domestic data and weighty political pressures from the US restricted CAD movement. Fears that Canadian growth will suffer as a result of the federal shutdown left the Canadian Dollar close to a two-week low and trading in its tightest range against its US counterpart for six months. The commodity-driven asset fluctuated modestly against the Pound as investors digested UK services and house price reports. Canadian Dollar fluctuations could occur before the weekend in response to Canada's Ivey PMI. Australian Dollar With investors betting that the Reserve Bank of Australia will refrain from issuing an additional rate increase before the close of 2013, the 'Aussie' was supported. The Australian Dollar also benefited from the expectation that next week's services data for China will show improvement. The South Pacific asset advanced against the majority of its most traded rivals during the local session and is heading for a five-day gain against the US Dollar and Pound. New Zealand Dollar After posting a significant decline against the US Dollar last week, the 'Kiwi' has enjoyed something of a rebound in recent days. As the 'Greenback' softened in the face of the ongoing political fracas in the US, the New Zealand Dollar advanced, posting a five-day gain of 0.6 per cent on its North American counterpart. If you need any further assistance, or require a live dealing quote - please do not hesitate to contact me on 01736 335250 or send an email to info@torfx.com Regards, TorFX Any opinions expressed in this document are those of TorFX analysts. Any analysis and/or forecasts provided are aimed at helping clients understand market conditions and developing trends. Clients are wholly responsible for their own trading decisions. Unauthorised copying or re-wording of this 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.

Unsubscribe From our Daily Updates © Tor Currency Exchange Ltd | 0800 612 9625 | www.torfx.com Registered Company Name: Tor Currency Exchange Limited. Registered in England & Wales, Number: 5193147. Tor Currency Exchange Ltd is authorised and regulated by the Financial Conduct Authority under the Payment Service Regulations 2009 (FRN 517320) for the provision of payment services. HM Revenue & Customs Money Laundering Regulation Number: 12191606.

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Daily insight: Euro rallies by around half a cent

Thursday 03 October 2013 Can't read this email? Click Here

Read our great customer feedback. Click Here For the latest news read our currency blog. Click Here 09:00 EUR Euro-Zone Purchasing Manager Index Composite (SEP F) Medium 09:30 GBP Purchasing Manager Index Services (SEP) Medium 10:00 EUR Euro-Zone Retail Sales (YoY) (AUG) Medium 13:30 USD Initial Jobless Claims (41545) Medium 15:00 USD Factory Orders (AUG) Medium Dear Subscriber, Please find below today's update which gives you an insight into the current market conditions, enabling you to keep informed and up to date on the latest currency movements. Headlines • UK Construction remains robust - prints at 58.9 for September. • Berlusconi gives Letta support - Italian coalition government intact. • ECB holds 0.5% interest rate - Draghi comments interpreted as positive for Euro. • GBP/USD carried higher by EUR/USD - US jobs disappoint. Sterling British Construction output continued to expand in September, printing at 58.9, which is slightly below August's 6-year high but still well above the 50.0 mark that separates growth from contraction. The extent to which the UK Construction Industry has improved in 2013 is nicely illustrated by the fact that the house-building index of Markit's report registered the highest score for nearly a decade. The Housing index came in at 64.8, just below the level of 63.9 that was reached in November 2003. Euro The single currency was handed a lifeline yesterday as Italy's modern-day Machiavellian media tycoon Silvio Berlusconi withdrew his attempt to bring down Prime Minister Enrico Letta's coalition government. Amid speculation of infighting within Berlusconi's People of Freedom (PdL) party, the slick-haired former PM decided to back Letta in a vote of confidence that should ensure political stability for the time being in Italy. The saga has seriously hampered Berlusconi's hopes of remaining in parliament, and his ejection from the Senate, due to a conviction for tax fraud, will begin on Friday. The Euro's fortunes also took a turn for the better yesterday as ECB President Mario Draghi struck a more positive tone than traders had anticipated following the European Central Bank's decision to maintain its current benchmark interest rate of 0.50%. Draghi commented that the currency bloc is more immune to crises, such as the one that threatened to take place in Italy this week, due to the Central Bank's pledge to support flailing Eurozone sovereigns on the bond market. The ECB President breathed life into the Euro when he said that policymakers were happy with the current rate of inflation, despite the fact that it is significantly lower than the 2.0% target, and reminded markets that the Euro exchange rate was not part of the ECB's remit. The Euro rallied by around half a cent yesterday in response to the positive developments in Italy and the shift in ECB sentiment away from additional monetary easing. US Dollar Sterling is trading close to 9-month highs against the US Dollar as yesterday's Euro-positive events led to EUR/USD related cross-flow gains for the Pound. The downbeat Dollar was also impacted by a below par ADP Employment Change score of 166,000 for September, significantly lower than forecasts of 180,000. With UK Construction and Manufacturing both printing strongly in September and the US government still out of operation, traders sent Sterling higher by around 0.3 cents against the 'Greenback'. Canadian Dollar Sterling investors were over the moon yesterday as the Pound reached a fresh 3.5-year high against the 'Loonie' for the fifth day in a row. The Canadian Dollar continued to haemorrhage support as the situation in the United States was seen to dampen the North American nation's economic prospects for the remainder of the year. Australian Dollar The Pound rallied by around a cent against the Australian Dollar yesterday as traders reacted to some softer-than-expected Australian data. Building Approvals were reported to have decelerated from 28.8% in July to just 7.7% in August, missing predictions of 12.8%. The 'Aussie' was also hurt by a Trade Balance deficit reading of -A$815 million, which more than doubled forecasts of -A$400 million. New Zealand Dollar The New Zealand Dollar declined by around -0.8 cents against Sterling yesterday as the growth-linked 'Kiwi' was damaged by risk-off trading conditions relating to the political impasse in America, which has led to the US government closing down indefinitely. If you need any further assistance, or require a live dealing quote - please do not hesitate to contact me on 01736 335250 or send an email to info@torfx.com Regards, TorFX Any opinions expressed in this document are those of TorFX analysts. Any analysis and/or forecasts provided are aimed at helping clients understand market conditions and developing trends. Clients are wholly responsible for their own trading decisions. Unauthorised copying or re-wording of this 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.

Unsubscribe From our Daily Updates © Tor Currency Exchange Ltd | 0800 612 9625 | www.torfx.com Registered Company Name: Tor Currency Exchange Limited. Registered in England & Wales, Number: 5193147. Tor Currency Exchange Ltd is authorised and regulated by the Financial Conduct Authority under the Payment Service Regulations 2009 (FRN 517320) for the provision of payment services. HM Revenue & Customs Money Laundering Regulation Number: 12191606.

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The reality is that although several individuals lost money, it's not the result of not utilizing a broker to support your monetary decisions. The net has created a nice chance for anyone to spot their own investments within the numerous financial markets. The major downside was that too several individual were speeding into the chance to get wealthy quick and didn't conduct the proper research or coaching required to succeed in the money markets.

Whether or not it is commodity trading, fx trading or stock trading the explanation that several brokers achieve their endeavors is that they conduct the necessary analysis required to identify a robust investment opportunity. For the non-public trader of commodity trading, fx trading and stock trading the avenues of analysis are out there in several different formats and it is up to the private trader to conduct the proper analysis to achieve the money marketplace.

Still though even with the prope r research there is usually a elementary misunderstanding of how the trading system works. Many people invest in an online stock trading system, scan a page of data on fx trading, commodity trading and stock trading and begin to invest their hard earned money. All trading comes with consequences and after you invest frivolously your money will disappear as swiftly as you unintelligently invested it. Analysis not solely goes into the trade you wish to create but additionally into the concept of trading itself.

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Daily insight: Sterling strikes 8 month high against the Euro

Wednesday 02 October 2013 Can't read this email? Click Here

Read our great customer feedback. Click Here For the latest news read our currency blog. Click Here 09:30 GBP Purchasing Manager Index Construction (SEP) Medium 12:45 EUR European Central Bank Rate Decision (OCT 2) High 13:15 USD ADP Employment Change (SEP) Medium Dear Subscriber, Please find below today's update which gives you an insight into the current market conditions, enabling you to keep informed and up to date on the latest currency movements. Headlines • UK Manufacturing PMI still strong - prints at 56.7. • Euro down on German Unemployment - ECB to hold rates but Draghi comments could undermine common currency. • GBP/USD at 9-month high - US Manufacturing provides glimmer of hope. • RBA holds 2.5% interest rate - talks down future rate cuts. Sterling Markit released a report yesterday showing that UK Manufacturing activity in the third quarter accelerated at its fastest rate for two-and-a-half years. Although September's score of 56.7 is slightly weaker than August's 57.1, the report showed that growth in Output and New Orders remained close to August's 19-year highs. The PMI result suggests that goods production will provide a major boost to UK GDP and bodes well for future Sterling performance. The only negative to come from the report was that Overseas Exports did not rise as quickly as could be expected, especially considering that Britain's largest export market - the Eurozone - has recently emerged from recession. Euro Sterling struck another 8-month high against the Euro yesterday, touching a level not seen since the middle of January, as a combination of softer-than-expected German employment numbers and a slight deceleration in Manufacturing output in the currency bloc hurt demand for the single currency. The headline German Unemployment Rate took an unexpected turn for the worse in September, rising from 6.8% to 6.9% as 25,000 Germans found themselves out of work - five times as many as the 5,000 that markets had pencilled in. Despite the downbeat score in the 17-nation bloc's most influential labour market, jobless activity across the Eurozone actually improved in September as the Unemployment Rate fell to 12.0% - which, I hasten to add, is still catastrophically high. The Eurozone Manufacturing PMI came in at 51.1, showing that output growth is not gaining momentum across the Channel in the same manner that it is here in Britain. This afternoon's European Central Bank rate decision could damage the Euro further if President Mario Draghi slips in any further hints at another rate cut, or another injection of LTRO liquidity measures. A rate cut from the current 0.50% level is unlikely, but not implausible, at this juncture. US Dollar With the probability of the Federal Reserve tapering its asset purchasing scheme shrinking by the minute while the American government is shutdown, the Pound managed to strike a fresh 9-month high against the US Dollar yesterday. However, GBP/USD gave back some of its gains during the afternoon as it was reported that Manufacturing activity in the world's largest economy expanded at the fastest pace since April 2011. The 2-year high PMI result of 56.2 cheered the downtrodden Dollar slightly, but with Friday's crucial Non-farm Payroll report unlikely to be released on time, investors are increasingly beginning to readjust their pricings of the 'Greenback' to reflect the view that asset purchases may not be slowed during 2013 after all: with no data to go by, how can the Federal Reserve gauge that the US economy is strong enough to warrant a reduction of stimulus? Canadian Dollar The Canadian Dollar slipped to another fresh 3.5-year high against the Pound yesterday as the US budget debacle spooked investors out of the North American currency. Canada and the US share very close trade links and as a result markets were wary that a prolonged period of government shutdown south of the border could lead to reduced economic output in Canada and this damaged the 'Loonie'. Australian Dollar The Australian Dollar rallied by around 1.5 cents early yesterday morning as the Reserve Bank of Australia opted to maintain its current benchmark interest rate of 2.50%. The 'Aussie' strengthened as traders perceived RBA Governor Glenn Stevens' remarks that previous rate cuts - the Central Bank has cut rates 8 times from 4.75% since late 2011 - were still working their magic, to mean that the easing cycle could be placed on hold for the foreseeable future. New Zealand Dollar The Pound posted a one-cent daily gain against the New Zealand Dollar yesterday as traders reacted to the latest in a long run of positive UK PMI results. If you need any further assistance, or require a live dealing quote - please do not hesitate to contact me on 01736 335250 or send an email to info@torfx.com Regards, TorFX Any opinions expressed in this document are those of TorFX analysts. Any analysis and/or forecasts provided are aimed at helping clients understand market conditions and developing trends. Clients are wholly responsible for their own trading decisions. Unauthorised copying or re-wording of this 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.

Unsubscribe From our Daily Updates © Tor Currency Exchange Ltd | 0800 612 9625 | www.torfx.com Registered Company Name: Tor Currency Exchange Limited. Registered in England & Wales, Number: 5193147. Tor Currency Exchange Ltd is authorised and regulated by the Financial Conduct Authority under the Payment Service Regulations 2009 (FRN 517320) for the provision of payment services. HM Revenue & Customs Money Laundering Regulation Number: 12191606.

Daily insight: Pound remains close to an 8-month highs against the Euro

Tuesday 01 October 2013 Can't read this email? Click Here

Read our great customer feedback. Click Here For the latest news read our currency blog. Click Here 08:55 EUR German Unemployment Rate s.a. (SEP) High 09:00 EUR Euro-Zone Purchasing Manager Index Manufacturing (SEP F) Medium 09:30 GBP Purchasing Manager Index Manufacturing (SEP) Medium 10:00 EUR Euro-Zone Unemployment Rate (AUG) Medium 15:00 USD ISM Manufacturing (SEP) High Dear Subscriber, Please find below today's update which gives you an insight into the current market conditions, enabling you to keep informed and up to date on the latest currency movements. Headlines Dear Customer, • UK Mortgage Approvals at 3.5-yr high – another bubble? • Eurozone CPI inflation down to 1.1% – ECB rate cut speculation harms Euro. • GBP/USD at 9-month high – government shutdown spooks investors. • GBP hits 3.5-yr high vs. CAD – but Canadian GDP strikes 2-yr high. Sterling Britain's nascent housing market recovery continued yesterday as it was reported that UK Mortgage Approvals reached their highest level since the financial crisis during August. The Bank of England confirmed that lenders approved 62,226 mortgages during August as buyers benefitted from the Central Bank's Help to Buy scheme. Although some politicians and analysts fear that the government's lending schemes could be fuelling another housing bubble, the Pound has thus far remained relatively immune to the speculation, as traders have focussed on the recent uptick in Retail Sales, Manufacturing, Construction and Services instead. Euro The Pound remained very close to 8-month highs against the Euro yesterday as the single currency was hampered by news that inflation in the currency bloc tumbled to its lowest level since February 2010 during September. With Eurozone Consumer Prices well below the European Central Bank's 2.0% target at 1.1%, it is growing increasingly likely that the ECB could look to spur credit growth through some form of accommodative monetary policy in the next few months. Another rate cut, or another injection of LTRO cheap liquidity, may not be announced this week, but if it is unveiled the likely market reaction will be to short the Euro as bond yields drop. The single currency is also being held back by concerns that Silvio Berlusconi's latest antics could destabilise the political sphere in Italy. However, these fears receded slightly yesterday as it emerged that some members of his PDL party were willing to break ranks and keep Prime Minister Enrico Letta's coalition government afloat. The development led Berlusconi to concede that he may have to approve the 2014 budget before calling for new elections. US Dollar Sterling appreciated by around 0.2 cents against the US Dollar yesterday, reaching its highest level since January in the process, as fears of a government shutdown in America continued to weigh over investors. With neither the Democrats or the Republicans showing any willingness to budge over the 2014 budget, traders attempted to calculate the potential costs of a long period of Federal cessation. Whilst the actual impact of such a scenario is always difficult to estimate, many market players feel that a tapering of asset purchases in 2013 could be very unlikely now that government data releases such as the Non-farm Payroll report will be delayed due to the government shutdown. Canadian Dollar The Pound reached a fresh 3.5-year high against the Canadian Dollar yesterday despite the fact that Canadian GDP was reported to have accelerated at its fastest rate since 2011 during July. The positive 0.6% growth score beat the market consensus of 0.5%, but was unable to halt the stampeding Sterling, which is now around 15 cents stronger against the 'Loonie' than it was during March of this year. The uncertainty over the border in the United States also impacted CAD yesterday. Australian Dollar The Pound to Australian Dollar exchange rate did not register any permanent moves yesterday as an attempted 'Aussie' rally in the morning petered out by the evening. It seems that traders were slightly perturbed by a weaker-than-expected HSBC Manufacturing PMI result of 50.2 in China, which was considerably softer than the market consensus of 51.2. GBP/AUD declined by around -1.25 cents earlier this morning as the Reserve Bank of Australia elected to hold interest rates steady at 2.50%. New Zealand Dollar With tensions running high in Washington DC, the New Zealand Dollar came into demand against the US Dollar yesterday and these cross-flows helped to send the 'Kiwi' higher against the Pound. If you need any further assistance, or require a live dealing quote - please do not hesitate to contact me on 01736 335250 or send an email to info@torfx.com Regards, TorFX Any opinions expressed in this document are those of TorFX analysts. Any analysis and/or forecasts provided are aimed at helping clients understand market conditions and developing trends. Clients are wholly responsible for their own trading decisions. Unauthorised copying or re-wording of this 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.

Unsubscribe From our Daily Updates © Tor Currency Exchange Ltd | 0800 612 9625 | www.torfx.com Registered Company Name: Tor Currency Exchange Limited. Registered in England & Wales, Number: 5193147. Tor Currency Exchange Ltd is authorised and regulated by the Financial Conduct Authority under the Payment Service Regulations 2009 (FRN 517320) for the provision of payment services. HM Revenue & Customs Money Laundering Regulation Number: 12191606.