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.

A Day of Calm Before Tomorrow's Fed Meeting

USD: FX markets should remain fairly stable today, with the dollar taking a pause in its decline, particularity against low yielding currencies such as the EUR or JPY, ahead of the Fed meeting and guidance tomorrow. On the US data front today, look for above-consensus November industrial production following decent readings from surveys of the sector. Still, the impact on USD will be limited, with all eyes being on the FOMC tomorrow.

CAD: The CAD is little changed, holding near recent highs against a weak USD but somewhat reluctant to join the herd of broader currency gains despite a CAD-supportive backdrop of firmer stocks and rising commodity prices. We remain constructive on the CAD outlook however, the CAD rally may pause in the near-term as markets assess recent gains.

EUR: With EUR passing the two big idiosyncratic risk events this month, namely the ECB meeting and the EU budget and recovery fund approvals untouched, EUR/USD can return to being primarily driven by the dollar side and its weak dynamics. For today, EUR/USD should remain flat but we look for a modestly stronger bias for the rest of the week if the Fed keeps risk assets supported tomorrow.

GBP: Following its rebound yesterday, GBP has now stabilized, pencilling in lower odds of a negative outcome from the UK-EU trade negotiations. This is also evident the GBP risk premium, which has halved since the close on Friday (from around 2% to 1%, based on our short-term financial fair value). The reduced imminent risk of the worst-case scenario is also evident in the modestly changed rhetoric, with UK officials now describing a no-deal outcome as ''possible'' vs ''very likely'' or ''most likely'' in prior days. Negotiations may continue even beyond the Bank of England meeting this Thursday.

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.

FAQs

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.