USD: US financial markets are closed today for the Thanksgiving holiday and this may cause most G10 currencies to trade in tighter ranges. There are no data releases in the US until Monday, and markets will keep an eye during the Thanksgiving holiday on developments on the political and pandemic fronts. The latter appears particularly concerning as major US cities are experiencing large spikes in cases and may fuel further speculation that President-elect Biden will opt for tougher restrictions once he takes office. For now, the stock rally has paused, but global risk appetite remains quite upbeat when looking at FX markets, with a 5-day rally in oil playing a big role.
CAD: The CAD continues to track US stock market moves more closely than crude oil prices in the short run but the broader move up in commodity prices is supporting Canada’s terms of trade and adds some fundamental underpinning to the CAD story at the moment. The CAD will remain firm while the pro-risk mood helps keep commodity prices supported
EUR: The EUR has “survived” the slew of grim data at the start of the week and some USD weakness has led EUR/USD back above the 1.1900 handle. Today, all eyes will be on the ECB’s Oct. meeting minutes with investors searching for hints on the size and shape of the new stimulus measures set to be deployed in December. With an overall quiet environment due to the US holiday and no other key releases, the minutes should be the main EUR driver today.
GBP: Today, the Government will provide details about virus containment measures as England is set to leave lockdown on 2 December. London may be spared tougher restrictions, which could provide some floor to GBP as we await more Brexit-related news. Meanwhile, the tone of negotiations has grown more confrontational after France accused the UK of dragging its feet on a trade deal.
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.
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.
Please read the following update before logging in to your MTFX online account
We have updated our online dealing system to provide you with better functionality, more unique tools and an overall enhanced client experience. MTFX Online 2.0 is now available for your dealing needs. You can begin using our enhanced online portal today.
Please note that the traditional portal will be available for use until MAY 30th 2021 at which point it will be decommissioned.