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The dollar surged and the euro fell after Donald Trump won the US presidential election. Markets priced in his plans for tariffs, lower taxes, deregulation and tighter immigration.
The euro zone, Mexico, China and Canada were seen as most exposed to new tariffs.
Expected tariffs and inflation pressure raise the dollar and limit Fed rate cuts, which tightens financial conditions and weakens the currencies of key US trading partners. A stronger dollar tends to lower dollar-denominated grain and meal prices and raises import costs for Mexico and other feed buyers.
reuters.comKaren BrettellNov 6, 2024After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
After 533 past bearish macro events, Euro (USD per EUR) moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), and -0.5% over 20.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Trump's election win triggered a broad dollar surge and euro selloff on tariff, tax-cut and rate-differential expectations, directly driving the one-day EUR/USD drop.
Trump's election win on 2024-11-06 triggered a broad dollar surge and pricing of tariffs that put China among the most exposed, directly driving CNY weakness (USD/CNY up) that day.
Trump's election win on Nov 6 triggered a broad dollar surge on expected tariffs, tax cuts and higher US rates, the primary driver of USD/CNY rising over the window.
Trump's election triggered a dollar surge and euro slump on tariff, tax-cut and rate expectations, which is the core catalyst of the move.
Dollar surge on Trump's win as markets priced in tariffs, tax cuts and tighter immigration.
Dollar surged and euro tumbled as markets priced in tariffs, tax cuts and tighter immigration.
