Markets are mildly risk‐off overnight (S&P future ‐0.4%), though this follows a strong rally late yesterday. Johnson and Johnson said it was pausing clinical trials of its COVID‐19 vaccine after an unexplained illness in a participant. Trump’s probability of winning the election recovered slightly with the bookies after his Florida rally (33%; up from 31%).
The IMF/Work Bank (virtual) meetings are ongoing and the IMF will today release its latest World Economic Outlook. Since its last update in June expectations for the contraction in GDP in 2020, in the US in particular, have diminished somewhat and the IMF’s 2020 forecast of a 4.9% fall in global activity now looks slightly pessimistic. Even if it revises this up, however, the accompanying commentary is likely to be very cautious and warn of the potentially serious impact of measures to contain a second wave of the pandemic.
Day ahead: US September CPI release is due today and the UK releases August labour data. Most economists expect US headline CPI will advance by a relatively standard 0.2% m/m in September. Beneath the surface, continued pricing power in health care and housing should support core inflation. Most anticipate inflation will continue to undershoot 2% for some time.
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Who can use the MTFX payment service?
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.
Why should I use MTFX and not my own bank?
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.
How do customers send funds to MTFX?
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.
How long does it take MTFX to transfer funds?
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.
Please read the following update before logging in to your MTFX online account
We have updated our online dealing system to provide you with better functionality, more unique tools and an overall enhanced client experience. MTFX Online 2.0 is now available for your dealing needs. You can begin using our enhanced online portal today.
Please note that the traditional portal will be available for use until MAY 30th 2021 at which point it will be decommissioned.