USD: FOMC meeting ahead, but not many fireworks expected. The key event of the week is the FOMC meeting (Wednesday). While the central bank may seek to operationalize its new average inflation targeting approach with some additional forward guidance, the soft Fed policy looks largely priced in following Chair Powell’s Jackson Hole speech, meaning that more positive news is needed to push cyclical currencies higher and the dollar lower. With fragile equity markets and risk sentiment, it is unlikely to happen this week. This suggests a lack of downside to the dollar and a range bound greenback this week.
CAD: Most are looking for a 0.2% m/m decline in August headline CPI (Wednesday), leaving the YoY rate unchanged at +0.1%. The average of the BoC’s three core measures fell to 1.63% in July and analysts expect this downward trend to continue in August, given the high degree of slack in the economy. Indications are that StatsCan’s +0.7% m/m estimate for July retail sales (Wednesday) is below where it will print while July’s GDP estimate of 3% seems to be in line with what most expect.
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Who can use the MTFX payment service?
Individuals and businesses who need to send money in foreign currency internationally can use MTFX’s services. The beneficiary of the transfer must have a bank account for the funds to be paid into.
Personal clients usually use our services to transfer money between their own accounts in two different countries.
Business clients usually use our services to transfer funds to suppliers, fund international operations, or repatriate overseas earnings.
Why should I use MTFX and not my own bank?
MTFX offers currency exchange rates that are 2-5% better than those offered by the banks. Personal clients usually save hundreds of dollars per transfer and for larger transfers, the savings can run into the thousands.
We also offer excellent customer service, dedicated currency specialists, and a 24/7 online platform with best-in-class technology that allows you to complete transfers from any device virtually anywhere in the world.
Business customers save with better currency exchange rates and proven solutions geared towards managing and mitigating foreign exchange risk. Our solutions include forward contracts, market orders, rate alert services, and much more - all backed by great technology and great people.
How do customers send funds to MTFX?
Funds can be transferred via wire transfer, Electronic Funds Transfer (EFT), or ACH payment services. MTFX maintains bank accounts in all major currencies with highly-rated banks. Our banking infrastructure ensures that you can transfer funds to us quickly and securely.
How long does it take MTFX to transfer funds?
Our global network of banking partners allows us to get funds to virtually anywhere in the world quickly and efficiently. Most wire transfers from MTFX will be received by your beneficiary within 24-48 hours. MTFX also offers same-day transfers that are almost instantaneous, as well as low-cost in-country payment services for your less urgent transfers. For further information please speak to one of our currency specialists.
MTFX is in the process of migrating our online dealing system to a newer version which offers more functionality along with an updated look and feel. While we complete our migration, both versions of our online dealing platform will be accessible.