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.

Greenback Continues to Reign Supreme

Greenback Continues to Reign Supreme

USD - US Dollar

  • July has historically been considered a low-volatility month in global markets: this year, this notion may fall quite far from reality. It is hard to forecast a marked change of direction in the dollar - the week ahead sees two major releases in the US. The June FOMC minutes (Wednesday) may tilt the balance towards markets fully pricing in a 75bp rate hike at the end of this month, should there be some indication of a growing consensus at the June meeting. The US jobs report (Friday) should show some fairly strong employment gains (270k), but the risks of a below-consensus reading are non-negligible given the lingering lack of suitable workers available to fill the huge amount of job vacancies.

CAD - Canadian Dollar

  • Just like most other G10 FX, the CAD struggled to resist the latest bout of USD strength, while still faring much better than its commodity peers as resilient oil prices possibly helped somewhat. Amid a relatively light agenda today, the publication of the latest BoC Business Outlook Survey could evidence that record capacity constraints have persisted across the Canadian economy, although this may not even be needed to embolden the BoC to more forcefully tighten with a 75bp rate hike next week. The economy appears to remain on a stronger footing than most of its developed market peers, as Canada in particular benefits from a positive terms of trade shock. This would only come as a slow-burning support for the CAD which still relies more importantly on some stabilization in risk appetite to allow for an eventual rebound in H222.

EUR - Euro

  • Last week’s CPI jump in the eurozone had a contained impact on EUR/USD, highlighting the recent lack of sensitivity of the common currency to the inflation numbers as: a) markets are already pricing in 140bp of ECB tightening by year-end; b) global assets seem to be trading more in tandem with recession fears given that aggressive monetary tightening has been largely factored in. Recession fears now appear to be mostly linked to further developments in Russia-EU relations pertaining to gas flows, as fears of Russia halting or further reducing exports to Europe remain quite elevated. The data calendar is rather quiet this week in the eurozone. The pair runs a bigger risk of re-testing the 1.0380 May lows in the coming days rather than returning to the 1.0500-1.0600 area.

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.