Sticky Registration Sticky Customer Support

Daily Currency Update

Get access to our expert daily market analysis and discover and track your currency pair using our exchange rate tools. EUR, GBP, USD & CAD Forecast.

A big 24 hours in the FX market - volatility ahead

USD - US Dollar

Yesterday’s session was dominated by the news that the Omicron variant was found in the US which contributed to keeping market volatility elevated. Commodity currencies are set to face a key challenge today as OPEC+ members meet to decide on whether to go ahead with a planned output hike in January.

There has been some back-peddling on the repricing of rate expectations after Powell’s comments on Tuesday, and by good ADP and ISM manufacturing figures yesterday. Given the material downside risks caused by the Omicron variant, markets will likely require the data flow to remain quite strong to price in an earlier rate hike. Markets appear widely positioned for a delay in the hike given uncertainty related to the Omicron variant. All in all, the dollar may find some stabilization today ahead of tomorrow’s nonfarm payrolls, although unpredictable developments about the new variant can rapidly shift momentum in either direction.

CAD - Canadian Dollar

The CAD’s direction seemed to be a biproduct of USD moves yesterday. Until we have some clarity around the Omicron variant, it is hard to commit too much capital to the view. Today, is all about the OPEC+ meeting and whether they proceed with their planned 400k bpd increase in production. There is likely to be a kneejerk reaction depending on whether they proceed as planned, delay or reduce the amount. Flexibility remains key in the current environment, but a big 24 hours or so for the loonie with employment data to be released tomorrow. Volatility ahead!

EUR - Euro

Following a peak in EUR/USD volatility on Tuesday, the pair has remained firmly rangebound. Let’s see whether some support starts to build at 1.1300- a possible benchmark for dollar/virus-related sentiment. We could see the pair trade sideways for today if there are no new developments on the virus side and ahead of tomorrow's US payrolls.

GBP - British Pound

The GBP has remained supported as markets revised expectations for a December Bank of England rate hike after MPC member Catherine Mann’s comments on Tuesday. The market is currently pricing in 8bp of tightening for the December meeting. For today, except for any news on the Omicron spread/vaccine efficacity, markets will have no data or BoE speakers to further direct their policy expectations. GBP may hold around current levels, although any further risk-off swing could provide some strong support for the currency.

Currency Chart

Get access to our market experts and sign up to receive the latest updates on any currency with our real-time exchange rate reports.

Sign up to receive the latest market news from our experts.

Daily Currency Updates
Daily Market Analysis
Get daily intelligence and currency reports directly to your inbox.
Weekly FX Technical Analysis
Weekly Technical Analysis
Get our weekly technical analysis providing valuable insights.
Monthly Currency Outlook
Monthly Currency Outlook
Receive our monthly currency report and help improve your forecasts.

By entering your email address you agree to the MTFX Terms Of Use and MTFX Privacy Policy and agree and agree to receive sales and marketing communications. Unsubscribe at anytime.


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.
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.
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.
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.