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.

US stimulus talks enough to cap the dollar

USD: US stimulus hopes continue to offer support to risk assets, but G10 currencies are showing very contained volatility at the moment, likely taking a wait-and-see approach ahead of the very busy second half of the week: Brexit deal/no-deal, EU summit, ECB meeting. In the US today all eyes will be on further developments in bipartisan talks on fiscal stimulus. Secretary Mnuchin presented Nancy Pelosi with a $916 bn proposal, but the cool reaction from the Democrat side has kept suggesting more talks are surely needed. Still, the proactiveness shown by the parties involved is proving enough to keep markets upbeat, and this should keep limiting the ability of the dollar to recover. No data releases worth highlighting today in the US calendar.

EUR: EUR/USD has found some consolidation above the 1.2100 mark, and may remain in a holding stance before the event-packed Tuesday, unless some material developments in Brexit talks spill over into the EUR.

GBP: Today, Boris Johnson and Ursula von der Leyen will meet over dinner in Brussels to try and revamp hopes of a UK-EU trade deal after latest comments by both parts’ officials highlighted lingering divergences on some key points (above all, the level playing field). What has however been seen as a positive development was the decision by the UK government to withdraw the lawbreaking clauses from the Internal Market Bill yesterday. Gauging how much the recent downbeat comments are part of negotiating tactics or truly indicate a widening gap between the two parties remains hard to guess. What is sure is that there is hardly any time left for more talks and markets will likely require some positive news from Brussels today to retain their optimistic stance on a deal. Sterling remains highly exposed to the downside if the prospect of no deal becomes even more realistic.

CAD: Since its 5 Nov BoC meeting Canada has recorded strong employment gains and signs of a recovery in inflation which have offset the quite grim September GDP numbers. Also, oil is up by some 20% and vaccine hopes have started to materialize in major economies. This means that the BoC has no tangible reason to add stimulus in the foreseeable future and we expect the Bank to keep rates and other policy tools unchanged today. If anything, the broadly positive developments could warrant a more hawkish rhetoric, but we think Governor Macklem will keep erring on the side of caution and leave the door open for more easing if needed, considering the still uncertain path for recovery as the contagion picture remains concerning. We expect a contained and short-lived impact on CAD, which will stay primarily driven by external factors

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.