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. USD CAD EURO GBP Forecast.

FOMC Minutes unlikely to change downward USD trend

USD: The greenback is now very close to its multi-year low reached at the beginning of the year as the prospects for persistently deep negative real rate weigh on USD. With the Fed in no rush to respond to rising prices and the expected rebound in European and global growth this summer benefiting other currencies, the outlook for USD does not look bright. Expect the trend of the dollar softness to continue in the coming weeks and months, and today’s FOMC minutes should not change that.

CAD: The loonie continues to appreciate against the greenback and was trading at a six-year briefly yesterday. While markets may be reluctant to chase the CAD higher there remains no change in the CAD’s fundamental condition (strong commodity prices, CAD-supportive spreads). Several fair value model estimates equilibrium for a spot at about 1.1932. Most expect the CAD to remain firm and continue to track the broader market tone—commodity prices and the USD—for now. Canada releases CPI data today.

EUR: EUR/USD continues to benefit from soft USD dynamics and the improving eurozone economic outlook, a function of the gradual reopening plans. Rising EUR/USD is a clear tailwind for FX, with both G10 and EM European currencies outperforming within their respective segments. Expect the euro to continue to gain against the greenback over the medium term.

GBP: The UK data points this week should provide continuous support to GBP. Solid UK employment numbers yesterday and the rise in April CPI to 1.5%YoY today should keep GBP bid and hand in hand with rising EUR/USD. Analysts are calling for a 3 month GBP/USD forecast of 1.36

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.