Sticky Registration Sticky Customer Support

Weekly Currency Update

Get access to our expert weekly market analysis and discover and track your currency pair using our exchange rate tools.

Ukraine Escalations Continue To Remain A Significant Concern

Ukraine Escalations Continue To Remain A Significant Concern

  • The CAD saw a fourth weekly close around the 1.27 level after another week of pretty modest volatility. With investors clearly gripped by the conflict on Ukraine's borders and a long weekend ahead of them in North America, the CAD is likely to stay risk averse and range-bound to begin the trading week.

The CAD is holding its own and imminent rate hikes likely to support the loonie

  • As the CAD has settled into an apparent comfortable range trade, short-term gauges of volatility have declined dramatically. Housing and house price data were strong, CPI came in above expectations, Manufacturing and Wholesale Trade data were positive (with upward revisions), and Retail Sales numbers were not as weak as expected for the Omicron-affected December period and showed a strong rebound in preliminary January data. DG Lane of the Bank of Canada said the bank was on schedule to raise rates in March and begin shrinking its balance sheet soon after. Markets continue to price March BoC rate hike risks a little more aggressively than and there are signs from recent BoC comments that a 1/2-point hike is being considered.

The week ahead:

  • Various models show that the CAD is likely very close to equilibrium. With no domestic data due this week, the CAD will be driven by external events (US data, Fed speakers) and the risk backdrop (stocks, Ukraine). Support for the USD/CAD is at 1.2630, while resistance is at 1.2790. If the USD/CAD breaks 1.2800 decisively, the currency pair could accelerate toward the 1.30 level.

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.