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’s upside continues for now

USD: The Fed Powell has reiterated the FOMC’s patient stance at his semi-annual testimony to the US Senate on Wednesday and Thursday. That being said, we expect the US policymakers to continue to move closer to policy normalization in coming months and this to boost the USD rate and yields advantage across the board. In turn, most maintain a constructive outlook on the USD. In addition, to the extent that tighter US financial conditions also keep risk sentiment subdued, the USD could remain supported vs risk-correlated and commodity currencies.

On the day, the focus will be on the US retail sales and the University of Michigan sentiment indicator for June. Ahead of the data, most expect the retail sales to soften further by -0.4% MoM. In addition, the US consumer confidence is expected to rebound. All said, the USD is likely to maintain supportive over the short term.

CAD: Post the BoC, the loonie has traded very poorly despite the BoC being one of the most hawkish Central Banks in the market. The BoC are still delivering a hawkish message and with the vaccination process supportive for the domestic recovery i n Q3. Weaker oil prices are perhaps dragging on CAD sentiment to a modest extent and while Canadian yields have shed a few bps. The CAD reacted positively to the initial headlines around the policy decision but gave back gains very quickly. Still, the basics were positive for the CAD; asset purchases were trimmed, as expected, guidance still pointed to rate hikes in H2 next year.

EUR: Another quiet overnight session saw the EUR trade in a narrow band. The ECB continues to suggest that they do not expect monetary policy to be tightened for a long period. Next week’s ECB meeting will likely see a great degree of divergence among the council as the more hawkish members will seek a PEPP tapering soon. The EUR should continue to trade rangebound in the near-term amid limited tailwinds while we await post reopening data and next week’s ECB decision.

GBP: Employment data released this morning, saw Employment rise less than forecast, although the Unemployment rate fell and Average weekly earnings were higher, although there has been little reaction. Most analysts are still on the side-lines in GBP given the battle between what is expected to be a more hawkish BoE and the continuing rise in Covid cases, which will weigh on GBP at some point.

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.