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The euro fell to its lowest level in nearly seven months against the dollar on Monday. Investors worried that possible tariffs from the incoming Trump administration could hurt the euro area economy.
Tariff fears strengthen the dollar and weaken the euro, which can make US exports cheaper abroad but raises concerns about trade flows and demand for US farm goods.
reuters.comHannah Lang, Chibuike OguhNov 11, 2024After 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.
After 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.
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.
The euro fell to a near 7-month low on Monday as tariff worries continued, extending the decline within the window.
Euro, the largest component of the broad index, fell to a near seven-month low on tariff worries, lifting the dollar.
Euro hit a near 7-month low on 11/11 on tariff worries, extending the momentum into the 11/12 dollar gain.
