Market news
06.11.2024, 08:27

Not only Harris lost, the euro lost as well – Commerzbank

Not only did the US dollar make significant gains last night. At the same time, the euro lost more than the other G10 currencies, Commerzbank’s Head of FX and Commodity Research Ulrich Leuchtmann notes.

Euro suffers a blow amid Trump win

“This is no coincidence. The euro area is likely to suffer disproportionately from a restrictive US trade policy. Not only because of its direct exports to the US. Should the US not remain the ultimate sink of global trade flows (or only in terms of trade that are more favorable for the US than before), global trade as a whole may suffer. This will affect the export nations. And quite a few of them are in the euro area. Germany, for example.”

“Furthermore, if one believes that exports are an important growth driver for a number of euro zone economies, one must also assume that a restrictive US trade policy will cement Europe's growth disadvantage vis-à-vis the US. This, too, would be negative for EUR/USD in the long term.”

“Because all these consequences are becoming apparent this morning, EUR/USD is suffering not only in the distant future, but also this morning – beyond the extent of general Greenback strength.”

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location