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.

Dollar strength set to continue

USD - US Dollar

News of Chinese banks lowering their lending prime rates to assist the mortgage sector arrived early in the European morning. The announcement serves as a reminder that the Chinese economy is slowing (USD/CNH is currently trading above 6.84), just as the PBOC policy rate drop did at this time last week. Due to these challenges, the dollar is still in demand; on a quiet Friday, we unexpectedly witnessed DXY rise above 108. The somewhat encouraging US data this week should be the main focus this week, leading up to Powell's address on the US economic outlook on Friday. The Fed is likely content with what the market anticipates for its policy rate this year (around 125bp of increases to a target range of 3.50–3.75%). With European and Chinese data remaining soft this week - and no end in sight for the surge in gas prices - expect the dollar to hold its gains.  

CAD - Canadian Dollar

This week's economic schedule in Canada is light. Over the previous three sessions, the US dollar increased by more than 1% vs the Canadian dollar. Today, it increased a little but stopped short of CAD1.3035. Initial support is located close to CAD1.2975-80. With sharp opening losses expected for US equities, it may discourage buying of the Canadian dollar in the early North American activity. Observe the USD/CAD chart.   

EUR - Euro

The EUR/USD is quite volatile and could at any point fall below parity. The changes Asian central banks made to their portfolios may have contributed to the sell-off. The persistent pressure on Asian FX will lead to intervention to sell dollars and strengthen local currencies. Asian FX reserve managers will then need to sell EUR/USD to re-balance FX portfolios to benchmark weightings.  We also contemplate whether this week may bring about a more hawkish ECB. For the meeting on September 8th, the market anticipates a 54 bp rate increase. If the ECB wants to support the EUR/USD, could it begin to raise the possibility of more drastic rate increases? The EUR/USD looks to be skewed toward testing the 0.9950 low from July this week. 

GBP - British Pound

The strong dollar is causing issues for all FX, and this week, the pound may touch its July low of 1.1760 again. After that, a drop to 1.15, a level witnessed in the March 2020 flash crash, is not difficult to rule out. The pound appears to be in danger, and this week's UK schedule is rather calm. 


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.