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 CAD EURO GBP Forecast.

USD firmer into CPI this morning

USD: A widespread sell-off in global equities yesterday did not leave deep marks in G10 FX, with the dollar initially appearing unable to benefit from its safe-haven status. Overnight, equities continued to show signs of distress in Asia (Taiwan’s stock index dropped as much as 8.6% earlier today), and the dollar ultimately displayed a rally across the board. Also contributing to the global risk-averse sentiment are the rapidly escalating tensions in the Gaza strip. Data-wise, today sees the release of April’s inflation report in the US with a consensus of a 3.6% YoY headline read.

CAD: Is holding up relatively well against its major commodity peers as domestic yields provide support, alongside generally firm commodity prices. The loonie continues to maintain a firm undertone and remains the top performing major currency in YTD terms, with a 3.3% rise against the USD. The 2017 low at 1.2062 serves as the next major support of note for USD/CAD, with resistance at 1.2143.

EUR: The move in the dollar this morning has so far has not affected the EUR/USD which has been holding on to the 1.2100 area. Despite the improving virus situation in most parts of the EU likely putting a floor under the euro, the pair should continue to be mostly moved by the USD today. As highlighted above, we do not expect much help to the dollar from a largely expected increase in US CPI, and other global dynamics should therefore be the primary drivers.

GBP: England recorded zero Covid-19 deaths yesterday, the first time since the start of the pandemic. This is a testament to the encouraging contagion and vaccination efforts in the country, which will continue to put a floor under sterling as they keep expectations about the reopening of the economy alive. A set of UK data released this morning all referred to the period when restrictions were still in place and were likely overlooked by investors: GDP dropped 1.5% QoQ in 1Q, while industrial production jumped 3.6% YoY in March.

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.