As we go to press, USD is slightly up against most of G10 (JPY is the exception). In the US, President Trump and former VP Biden held competing town halls on Thursday night, with betting markets’ probability of Democrats winning the presidential election little changed at ~67%. Earlier in the day, Trump said he would support a larger fiscal package than the USD 1.8trn that the WH has offered, but it is not clear if the Senate Republicans will go along.
USD: Headline retail sales should be helped along by strong vehicle sales in September, as unit sales rose nicely to 16.4m. Economists look for a 1.3% m/m advance on the headline. Beneath the surface, sales should also look very decent. Credit card transaction data from the BEA showed a sharp upswing throughout the month of September. Indeed, relative to the pre-pandemic baseline, retail activity per this measure accelerated to an average of 4.1% from 1.7% in August.
CAD: Today sees the release of August international securities transactions and manufacturing sales (cons. -1.4%m/m, prior 7.0%m/m) data. The advance estimate from StatsCan pointed to a 2% decline in manufacturing sales in the month, in line with the pullback in export volumes of both motor vehicles (after an abnormally strong July) and aerospace products.
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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.
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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.
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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.