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.

The CAD retains a firm undertone

USD - US Dollar

Global risk sentiment started to weaken yesterday during the US trading session and stock indices have opened lower across Western markets today. Let’s see whether this triggers some recovery in the bond market, after another material correction higher in yields yesterday has once again proven to be narrowly dollar-positive. Looking back at the US, the data calendar is very light today and will remain so until Friday, when inflation numbers for May are released. Some risk-off today may offer some support to G20 FX, and we think the dollar will remain broadly supported on balance, as the underlying stories of Fed tightening and good US economic momentum continue to put a floor under the greenback.

CAD - Canadian Dollar

The CAD retains a firm undertone, supported by firm stocks and robust crude oil. Last week’s Bank of Canada policy decision and communication suggest to us that the CAD is poised to strengthen further in the coming weeks as policy expectations are upgraded. Greater confidence in the BoC taking its benchmark rate above 3% in the coming months should help keep the CAD supported and pressure USD/CAD back towards the April low around 1.24 (at least) in the next few week

EUR - Euro

EUR/USD has broken back below the 1.0700 mark, largely on the back of widespread dollar strength. We’ll have a bunch of non-market moving data out of the eurozone today and tomorrow, but we might see a decrease in EUR volatility relative to other G10 currencies as a “wait-and-see” approach dominates ahead of the European Central Bank announcement on Thursday. Here is our preview of the meeting. For today, we expect either some stabilization or another marginal depreciation in the pair as external factors dominate, and we could see it test the recent 1.0627 low.

GBP - British Pound

Prime Minister Boris Johnson survived a no confidence vote yesterday evening, although as many as 148 party members voted to oust him. This is a narrower victory than the one secured in December 2018 by former PM Theresa May, who resigned six months later. We think markets are overpricing the impact of recent political noise on the UK economy and we expect volatility in the pound to decrease over the coming days, with the focus potentially shifting back to other drivers such as the Bank of England's policy or a slowing economic outlook. In our view, downside risks to the pound persist, but they are not strictly linked to the recent political developments. GBP/USD may extend the drop to the 1.2300-1.2350 area in the near term.

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.