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.

Greenback remain strong ahead of U.S. Thanksgiving break

USD - US Dollar

The dollar consolidated yesterday with the main development in global markets was the decision by the US – as part of a deal with China, UK, Japan, India and South Korea – to release 50 million barrels from its crude reserves in an attempt to ease energy prices. Still, the market was likely pricing in a bigger intervention and given the risk of an OPEC+ retaliation, oil prices ultimately rallied.

Today, all eyes will be on the minutes of the November FOMC meeting, the last key market event before the Thanksgiving break. Naturally, the minutes will be somewhat outdated as the meeting took place before the release of the October inflation report. Still, it will be interesting to gauge how much divergence of views there was within committee members. As above-6% inflation has now clearly provided a strong argument in favour of faster tapering and earlier tightening.

On the data side, we should see a modest upward revision to 3Q GDP data (likely to 2.1% or 2.2% quarter-on-quarter), while October’s PCE, personal income and durable goods orders are all likely to improve from the month before. The current environment continues to suggest a stronger greenback.

CAD - Canadian Dollar

The CAD Continues to struggle against the tide of a generally stronger USD and weak risk appetite. Lower crude oil prices are a clear headwind for the CAD and short-term spreads are narrowing as US interest rates firm. Although these factors have turned somewhat less supportive for the CAD in the past couple of weeks, we view the CAD’s slippage as somewhat overstated. A calmer risk backdrop and steadier commodity prices are needed for the CAD to improve. Look for the loonie to weaken over the next few days as we enter the U.S. Thanksgiving holiday.

EUR - Euro

Yesterday’s PMIs were a positive surprise for quite choppy eurozone sentiment, although they failed to turn the tide for EUR/USD which remains capped due to the greenback’s momentum and concerns about rising cases and new restrictions in the eurozone.

Today, the Ifo survey out of Germany will be another important gauge of whether Covid-related concerns have started to hit business sentiment. We think the impact on the EUR should be either neutral (if above or around consensus) or negative (if a big miss), although further developments on possible restrictions in Europe should remain a more important driver. EUR/USD may extend losses to below 1.1200 after the FOMC minutes.

GBP - British Pound

Yesterday, good PMIs in the UK seemed to support the case for a December Bank of England hike. Today, the data calendar is quite empty in the UK, with only some focus on a speech by MPC member Silvana Tenreyro, normally a dovish voice. The GBP has remained in a narrow trading range over the last few weeks; a decisive move higher may signal investors are starting to price in diverging contagion/growth paths for the UK and the eurozone, something similar to what we saw at the beginning of the vaccination programme in 1Q21.

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.