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.

Waiting for the markets’ verdict on the debate

USD: Risk assets are starting to recover from last week’s flight-to-safety and equity futures point at another positive open for stocks in Europe and the US. While consumer confidence (we expect a relatively strong read) and some Fed speakers (Williams, Harker, Clarida, Quarles) will be the highlights in trading hours, tonight’s Presidential debate (at 9PM ET) will take centre stage. Biden approaches the first face-off leading almost all polls by at least 5 points, with some surveys giving him a 10-point lead. While the debate by itself may or may not be a turning point in the campaign, it will key insofar as it will allow a gauge of first real market reaction to any perceived advantage of one or the other candidate as a result of the debate. Away from the debate impact, USD could face another unexciting day as risk keeps recovering.

CAD: Has failed to pick up much support from the positive risk mood on the day and finds itself at the foot of the major currency overnight performance league versus the USD. Crude oil continues to consolidate around the $40 level for WTI, domestic data releases have failed to inspire (note Jul/Aug GDP is released Wednesday) and the government’s Throne Speech was a non-event for the CAD. The CAD is not really trading on its own merits at the moment and remains a slave to the broader USD tone. USD/CAD features support at 1.3339 and 1.3272, with resistance at 1.3399 and 1.3460.

EUR: Inflation numbers out of Germany today will shape the expectations for Friday’s EZ-wide data. Markets are likely expecting a flat YoY print at 0.0% in Germany, with any move into negative territory possibly adding fuel to recent speculation around an ECB rate cut. Yesterday, President Lagarde stressed that the Bank remains ready to add stimulus if needed to support the economic recovery and that it continues to monitor the exchange rate among other indicators to assess the medium-term inflation outlook. Barring a negative CPI read in Germany, EUR/USD should test 1.1700 today ahead of the US Presidential debate as improved sentiment may take some support off the USD.

GBP: Sterling continues to be the mirror of market complacency to the UK-EU trade negotiations and the risk of a legal fight between the two parts if the UK walks away from the Withdrawal Agreement. These days’ developments may have make-or-break implications for GBP, and Brexit-related news will be closely monitored. For now, we still see GBP’s balance of risks skewed to the downside.

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.