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.

USD: Back on a slippery slope

USD: Risk assets are starting the week on the front foot as investors focus on the news that some advisers in President-elect Biden’s virus-response task force are arguing against a national lockdown and upbeat industrial output numbers out of China overnight. Also in Asia, 15 Asian-Pacific countries signed the RCEP trade deal on Sunday, which may represent a step in the direction of further consolidation of China’s economic and diplomatic role in the region. At the same time, markets appear to be turning a deaf ear at reports suggesting President Trump may double down on his trade spat with China before leaving office by imposing more sanctions and trade restrictions. In FX, the usual risk-on picture is emerging: USD is underperforming other safe-havens and the rest of G10. Today, the US calendar only includes the Empire Manufacturing, which is expected to have modestly rebounded in November, but should have very limited market implications. Looking at the rest of the week, the US economic performance will come under scrutiny as retail sales, industrial production, and housing data are released.

CAD: All three of the September monthly sales releases feature in a busy week for Canadian data, though they will take a backseat to the rising COVID-19 case counts. Our tracking suggests that manufacturing (Monday, +1.5%), wholesale (Tuesday, +0.4%), and retail (Friday, 0.0%) sales should all match their earlier ‘flash’ estimates. Looking ahead, while activity has predictably slowed in the hospitality sector alongside greater restrictions across much of the nation, overall retail sales activity should be around flat in October as well. Loonie remains resilient in near term, but a more dovish BoC could see it lose ground in 2021.

EUR: EUR/USD is starting the new week by following the same upward trend shown in the second half of last week, now testing the upper half of the 1.18 region. USD may stay the main driver of the pair for most of this week, or at least until we see material developments on a Brexit trade deal as other idiosyncratic drivers for the EUR may remain scarce, with only consumer confidence on Friday standing out in the EZ calendar. A number of speeches (including a hearing at the EU parliament) by ECB President Lagarde may also generate limited EUR impact as she has recently shown reluctance to deviate from the Bank’s main rhetoric and the QE expansion in December is fully in the price.

GBP: Sterling is staying in wait-and-see mode as yet another unofficial deadline (yesterday) for a EU-UK trade deal has been breached. Our UK economist keeps noting that the prospects of a deal are looking slightly brighter, but also that (a) the core set of issues remains largely unresolved; (b) time for a deal is running out and while we see officials suggesting more than one week may still be needed, the technical time for ratification in the EU and UK is dangerously shrinking. In light of this, we could see both parts rushing into a deal already this week. This could have material implications for the pound, and a set of UK data (CPI, retail sales, PMIs) will play second fiddle this week.

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.