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.

Markets taking a pause for a breath

USD: Equity markets are still taking a pause for breath after the US election outcome and the vaccine announcement rally. Surging cases in the US and Japan reminded the market the prospects of a tough winter ahead. While the pause in the risk assets rally is understandable (particularly if accompanied by profit taking after the strong first half of the month), the view for 2021 remains constructive (given the outcome of the US Presidential elections and the prospects of a vaccine) suggesting only a limited upside to USD. This also suggests a pause in FX gains in the short term.

CAD: BoC Deputy Governor Wilkins said the pandemic would affect potential output through its impact on investment and labour force growth, echoing the October MPR. Weaker equity markets have kept USD/CAD above 1.3000 this week, with yesterday’s breakout above 1.3099 the pair looks to be targeting 1.3178 next on the topside. Support is located at 1.3106.

EUR: With a calm day on the data front ahead and the risk rally stalling EUR/USD should remain range- bound and hover around the 1.18 level today

GBP: The resignation of PM Johnson’s chief advisor Cummings, seen by many as the mastermind behind the successful Brexit campaign and referendum, should be perceived as GBP positive, particularly in the context of the final stage of the UK-EU trade negotiations and the reported limited progress being made in recent days. This follows the resignation of Downing Street communication direction Cain on Wednesday, with both events suggesting an easing influence of Brexiteers within the PM’s inner circle. On the margin, this should swing the pendulum of probabilities towards a UK-EU trade agreement

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.