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. EUR, GBP, USD & CAD Forecast.

Greenback set for another rally as Inflation set to rise again

USD - US Dollar

The dollar moved in line with market expectations yesterday, strengthening across the board after Wednesday’s sell-off. We should see a fresh focus on the US inflation story today as November CPI numbers are released with markets expecting headline inflation to push towards the 7% level. There is likely some room for the dollar to rally further if the headline rate breaks above 7%, while we see contained downside risk for the greenback in case of a below consensus read. Inflation would need to drop quite sharply before the market can reasonably price out the Fed tightening cycle in 2022. Most still expect the dollar to remain generally supported into next week’s Fed meeting.

CAD - Canadian Dollar

With the BOC not being hawkish this week, and no communication from the BoC around the timing for lift-off, the excitement we saw in USD/CAD earlier in the week has petered out. Overall whilst there is no more fuel on the fire in terms of policy, there’s still a good chance that the first-rate hike by the BoC may be earlier than the middle of next year. Having said that, clearly, the USD/CAD is trading on expectations of any rate hikes being pushed out to mid-2022. Expect the USD/CAD to rally closer to 1.28 for an eventual move lower.

EUR - Euro

We have seen a confirmation that markets feel quite uncomfortable with levels of EUR/USD above 1.13, with the pair that stalled at 1.1350 first and now marginally below 1.1300 again. Most analysts don’t expect any upside for the euro into next week’s ECB meeting. Expect the euro to retrace and give back some of this week’s gains as we close out the year.

GBP - British Pound

GBP has held up well over the past two sessions after the contraction induced by new Covid restrictions in the UK. This suggests that GBP was already pricing in negative factors given the contained FX reaction to the below-consensus growth and industrial production numbers this morning. Data should remain in focus in the UK - an increase in inflation may impact GBP although that may happen mostly through a change in 2022 rate expectations. Markets are pricing in a non-event BoE meeting next 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.