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.

Consensus Is Centred Around Another 400k+ Headline Nonfarm Payroll Figure

USD - US Dollar

The market environment continues to favour a strong dollar as we head into a weekend where the battle for Ukraine’s major cities looks set to intensify further. The market’s liquidity conditions have weakened this week and were exacerbated overnight after reports of shelling to Europe’s largest nuclear plant in Ukraine. This argues in favour of a stronger dollar. 

Domestic factors are also offering support to the greenback, as markets have priced back in some Fed tightening after a speech earlier this week by Fed Chair Jay Powell removed some doubt about the Bank’s policy plans and all but confirmed a 25bp rate hike in March. Fed fund futures are close to pricing back in six hikes by the end of 2022, and a solid US payroll number today could help cement tightening expectations further – ultimately adding to USD good momentum. Consensus is centred around another 400k+ headline nonfarm payroll figure today, with a lot of focus set to be on wage growth, which may have accelerated further from the 5.7% January reading. 

While we expect it to be dollar-positive, the NFP impact should be reduced compared to previous instances, as the focus remains on the Russia-Ukraine situation. Today, G7 leaders will meet, and we may hear about more sanctions against Russia. Investors will keep an eye on any hints of a coordinated effort to limit dependency on Russian commodities, which could put more upside pressure on energy prices. 

CAD - Canadian Dollar

The CAD reversed fortunes over the last 24 hours after being a relative out-performer across the G7. Spot tested the 1.26 area before rebounding well above 1.27. Crude oil is firmer but recent handicaps on the CAD including weaker stocks and higher volatility (VIX) appear to have caught up to the CAD. This week’s BoC rate hike and policy statement suggested a steady ramping up of the Overnight Target Rate in the coming months but provided no insight into the Bank’s plans to reduce its balance sheet. For now, the CAD will take cues from broader market themes and is likely to stay on the weaker side given the continued events in Russia and Ukraine. observe the USD/CAD Chart.

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.