The ECB meeting announcement and press conference are the main events in the calendar today. BoC Governor Macklem will flesh out yesterday’s statement in an Economic Progress Report and press conference. Data‐wise, US initial claims are expected to remain on a steadily improving trend.
The US dollar takes the back seat today with the sole focus on the ECB. With the ECB unlikely to generate a EUR decline at today’s meeting, we look for modest outperformance of European FX vs the dollar. With equity markets stabilising, this also points to a softer day for USD.
BoC Governor Macklem will deliver the Economic Progress Report today. He may be questioned on the QE front in the accompanying press conference as the reference to calibration is a more two‐sided statement than the previous one in July. USD/CAD features support at 1.3133 and 1.3087, with resistance at 1.3209 and 1.3272.
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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.
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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.