# Dollar soars, euro tumbles as Trump wins US presidential election

> 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.

- Date: 2024-11-06 · published 2024-11-06T12:00:00.000Z
- Category: macro · region US · magnitude high
- Page: https://feedsoft.ai/events/5806-dollar-soars-euro-tumbles-as-trump-wins-us-presidential-election
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

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.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼
- USDCAD: bullish ▲
- USDCNY: bullish ▲
- USDMXN: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| EURUSD | 2024-11-06 | 1 | -1.7% | -5.8 | 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. |
| USDCNY | 2024-11-06 | 1 | +1.0% | 4.7 | 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. |
| USDCNY | 2024-11-12 | 5 | +1.9% | 4.8 | 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. |
| EURUSD | 2024-11-13 | 5 | -3.2% | -4.2 | 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. |
| DXY | 2024-11-06 | 1 | +0.9% | 3.6 | Dollar surge on Trump's win as markets priced in tariffs, tax cuts and tighter immigration. |
| DXY | 2024-11-13 | 5 | +1.9% | 2.8 | Dollar surged and euro tumbled as markets priced in tariffs, tax cuts and tighter immigration. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2016-11-10 | [Donald Trump's win in US presidential election sends China yuan to six-year low against dollar](https://feedsoft.ai/events/7740-donald-trump-s-win-in-us-presidential-election-sends-china-yuan-to-six-year-low.md) | +1.9% | +2.3% |
| DXY | 2024-11-06 | [US shares, Bitcoin hit record high and dollar soars on Trump win](https://feedsoft.ai/events/9520-us-shares-bitcoin-hit-record-high-and-dollar-soars-on-trump-win.md) | +1.9% | +1.5% |
| DXY | 2016-12-15 | [Euro tumbles to near 14-year low against US dollar](https://feedsoft.ai/events/5966-euro-tumbles-to-near-14-year-low-against-us-dollar.md) | +1.6% | +1.1% |
| DXY | 2016-11-09 | [Brazil takes a hit as Trump elected US president - BNamericas](https://feedsoft.ai/events/5469-brazil-takes-a-hit-as-trump-elected-us-president-bnamericas.md) | +3.1% | +3.3% |
| DXY | 2024-10-16 | [US dollar rallies on Fed outlook, potential Trump win; inflation weighs on pound](https://feedsoft.ai/events/28053-us-dollar-rallies-on-fed-outlook-potential-trump-win-inflation-weighs-on-pound.md) | +0.7% | +2.8% |
| EURUSD | 2026-10-26 | [Euro falls against dollar; Brazilian real tumbles after Lula election win](https://feedsoft.ai/events/17282-euro-falls-against-dollar-brazilian-real-tumbles-after-lula-election-win.md) | -0.3% | — |
| EURUSD | 2024-11-06 | [US shares, Bitcoin hit record high and dollar soars on Trump win](https://feedsoft.ai/events/9520-us-shares-bitcoin-hit-record-high-and-dollar-soars-on-trump-win.md) | -3.2% | -3.2% |
| EURUSD | 2016-12-15 | [Euro tumbles to near 14-year low against US dollar](https://feedsoft.ai/events/5966-euro-tumbles-to-near-14-year-low-against-us-dollar.md) | -2.2% | -0.3% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/dollar-climbs-trump-makes-early-gains-exit-polls-bitcoin-rises-2024-11-06/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.