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.

ISM numbers and OPEC+ to drive direction today

USD: FX markets started the week on a quiet note as the US and UK markets were closed yesterday for a holiday. The dollar has remained weak as we head into a week where data releases will be back in focus in the US, and that will round off the week with May’s jobs report on Friday. Today, we’ll see the release of May’s Manufacturing ISM, which may continue to edge higher. Most don’t expect data this week to materially change market expectations about the Fed’s policy stance, and the dollar’s momentum may stay soft on the back of a still negative real rate narrative.

CAD: The CAD is little changed and holding near the recent highs against the greenback. Canadian markets will focus on the employment data late in the week, suggesting that early week trends here are likely to remain range bound. Markets are also keeping a close eye on consultations among OPEC+ members around the possibility of hiking oil output again as the global recovery is widely expected to gather more pace in the coming months and stockpiles to be drawn down. Any signs that the cartel may hold output steady for now would likely provide more support to the CAD, while likely pushing inflation expectations higher.

EUR: All eyes today will be on the eurozone’s inflation report for the month of May, which will be the last key data release ahead of the ECB meeting on 10 June. Analysts expect headline CPI to rise to 1.9% YoY and core inflation to 0.9%. The spill-over into the FX market may however be contained after the recent rhetoric by ECB officials tended to exclude any tapering discussion. Germany’s unemployment data will also be watched today, with markets expecting the unemployment rate to have remained at 6.0% in May. EUR/USD is likely to consolidate further within the 1.22-1.23 range.

GBP: Bank of England Governor Andrew Bailey is set to speak today at a conference that doesn’t have monetary policy as a main theme. Still, markets will be on the watch for any possible policy comment after the rates market was shaken last week by BoE’s Gertjan Vlieghe comments about a possible hike in 2022. Apart from this, the data calendar is very light in the UK in the coming days, and the GBP should remain mostly driven by expectations about the full reopening of the UK economy by 21 June.

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.