Skip to content
Risk warning: Our products are leveraged and carry a high level of risk, which can result in the loss of your entire capital. Such products may not be suitable for all investors. It is crucial to understand the risks involved fully.
  • Support
  • For Institutionals
  • Trading

    Trading Platforms

    • MetaTrader 4 Terminal
    • MetaTrader 5 Terminal
    • PAMM Accounts
    • Equinix Trading Server

    Markets coverage

    • Forex Currencies
    • Spot Metals
    • Commodities

     

    • CFDs on Stocks
    • Indices
    • CFDs on Crypto

    Start Trading

    • Standard Accounts For individuals
    • Institutional Account For professionals
    • Deposits & Withdrawals
  • Conditions

    Trading Conditions

    • Spreads Overview
    • Swap-Free
    • Leverage Information

     

    • CFD Specifications
    • Full Trading Conditions

    Invest on your terms

    Transparent pricing, reduced trading costs, and leverage that adapts to your strategy.

    Explore conditions
  • Tools
    • Weekly Outlook
    • Daily Technical
    • Market Commentary
    • Economic Calendar
    • News & Insights
  • About
    • About OnEquity
    • Company News
    • Legal Documentation
    • Client Protection
    • Help & Support
    • FAQs
  • Partners
Edit Content
  • English
    ACTIVE
Other languages:
  • Español – Spanish
  • Português – Portuguese
  • English – International
  • Trading
    • Markets Coverage
    • MetaTrader 5 Platform
    • MetaTrader 4 Platform
    • Standard Accounts
    • Institutional Account
    • PAMM Accounts
    • Equinix Trading Server
    • Deposits & Withdrawals
  • Conditions
    • Spreads Overview
    • Leverage Information
    • Swap-Free Trading
    • CFD Specifications
    • Full Trading Conditions
  • Tools
    • Daily Technical
    • Weekly Outlook
    • Market Commentary
    • Economic Calendar
    • News & Insights
  • About
    • About OnEquity
    • Company News
    • Legal Documentation
    • Client Protection
    • Help & Support
    • FAQs
  • Partners
  • Client Portal
  • Open Account
Edit Content
  • English
    ACTIVE
Other languages:
  • Español – Spanish
  • Português – Portuguese
  • English – International
Open Account
Client Portal
Currencies, Markets

Dollar Gains on Cut in Rate Expectations, Pound Falls on Inflation

October 21, 2024 OnEquity

The U.S. dollar rose Monday, maintaining its recent strength as the election for U.S. president approaches and polls point to a growing likelihood that former President Donald Trump will be the winner.

Dollar Boosted by Confidence in Trump

The dollar remained near its highest levels in over two months, bolstered by growing confidence that U.S. interest rates will decrease at a slower pace than initially expected. This is further supported by recent data showing that the U.S. economy remains healthy.

According to the CME FedWatch tool, traders are largely expecting a 25 basis point rate cut by the Federal Reserve in November.

The dollar has also been buoyed by increasing expectations that Donald Trump will defeat Kamala Harris in the 2024 presidential election, now less than two weeks away.

It is considered possible that the tariff and tax policies proposed by Republican candidate Donald Trump could keep U.S. interest rates high and apply downward pressure on the currencies of trading partners.

“Currency markets appear to be positioning for a Trump victory in next month’s U.S. presidential election. October seems to have been a good month for Donald Trump in opinion polls, and the dollar is rising across the board,” ING analysts mentioned in a note.

Euro Hit by Weaker PPI in Germany

In Europe, EUR/USD was down about 0.1%, trading at 1.0850, after German producer prices fell more than expected in September, declining by 1.4% year-over-year instead of the estimated 1.0%.

European Central Bank policymakers are likely to cut the policy rate to a neutral level between 2% and 3%, although further cuts may be necessary if inflation continues to fall, ECB policymaker Gediminas Simkus mentioned on Monday.

“If disinflation processes take hold… it is possible that rates will be lower than the neutral level,” Simkus, governor of the Lithuanian central bank, told reporters in Vilnius.

GBP/USD fell 0.2%, reaching 1.3022, after data revealed that British property sales prices rose just 0.3% during October, well below the average monthly increase of 1.3%, according to property website Rightmove (RTMVY).

This, coupled with the unexpected drop in services inflation last week, signals that further rate cuts by the Bank of England are likely in the coming months, as the bank seeks to stimulate the U.K. economy.

Yuan Declines After PBoC Rate Cut

USD/CNY rose 0.2% to 7.1120 after the People’s Bank of China cut its benchmark lending rate by 25 basis points.

Over the past month, China has announced its most aggressive round of stimulus measures, including monetary and fiscal policies aimed at boosting sluggish growth.

USD/JPY rose about 0.3%, reaching 149.91, though it remained below the 150 level after briefly surpassing it the previous week for the first time since early August.

  • Dollar
  • Euro
  • Yuan

Post navigation

Previous
Next

Search

Categories

  • Analysis (219)
  • Beginner (24)
  • Cryptos (146)
  • Currencies (189)
  • Daily Technical (147)
  • Education (64)
  • Expert (23)
  • Intermediate (17)
  • Markets (438)
  • News & Releases (22)
  • Stocks (292)
  • Uncategorized (1)
  • Weekly Outlook (70)

Recent posts

  • Trump May Sign Executive Order Targeting Banks That Discriminate Against Crypto Firms
  • Fundamental Analysis of European and U.S. Stock Markets – August 5, 2025
  • Today’s stocks to watch: AMD, Palantir, and Super Micro

Tags

Analysis Bitcoin Cardano CPI Crypto Cryptocurrencies Currencies Daily Dollar earnings Education Elections ETF ETFs Ethereum Euro Fed Index inflation Litecoin Market Markets Nasdaq oil Outlook Pound Ripple SEC Solana Stablecoin Stock Market Stocks Stocks Market Stocks today Technical Technical Analysis Technology Tether Trading Trump Wall Street Weekly Weekly Outlook Yen Yuan

Related posts

Analysis, Daily Technical

Daily Technical Analysis EUR/USD: Surge Slows at Multi-Year Highs — Tax Reform and Yields Bring Gains to a Stop

July 2, 2025 OnEquity

The EUR/USD pair remained flat during Wednesday’s session, hovering around 1.1780 after briefly touching a multi-year high of 1.1830. The euro’s advance lost steam following the U.S. Senate’s approval of President Trump’s $3.3 trillion “One Big Beautiful Bill,” which includes the entirety of his legislative agenda. The bill, passed by a 51–50 margin with Vice […]

Currencies, Markets

Dollar Drops to Multi-Year Lows, Rate Cuts, Trade Agreements, and Tax Reform in the Public Eye

July 1, 2025 OnEquity

The U.S. dollar extended its decline on Tuesday, falling to multi-year lows amid growing expectations of Federal Reserve rate cuts and rising fiscal concerns sparked by President Donald Trump’s spending bill. By 04:25 ET (08:25 GMT), the U.S. Dollar Index—measuring the greenback against a basket of six major currencies—was down 0.2% at 96.275, marking its […]

Currencies, Markets

Dollar Battles to Regain Balance, Powell Prepares to Intervene Further

June 25, 2025 OnEquity

The U.S. dollar edged higher on Wednesday, though it remained near multi-week lows as easing tensions between Israel and Iran prompted investors to move away from safe-haven assets. As of 04:20 ET (08:20 GMT), the U.S. Dollar Index —which tracks the greenback against a basket of six major currencies—was up 0.2% at 97.665. Focus Shifts […]

  • Privacy policy
  • Client agreement
  • Legal
  • Support
  • +2484671965
  • [email protected]
  • Chat with us
Company
  • About us
  • Regulation
  • Safety of funds
  • Company news
  • Insights
  • FAQ
Account options
  • Standard accounts
  • Institutional account
  • PAMM accounts
  • Swap-free account
Conditions
  • Spreads overview
  • Leverage tiers
  • CFD specifications
  • Markets coverage
Trading tools
  • MetaTrader 5
  • MetaTrader 4
  • Equinix trading server
  • Economic calendar
  • Daily technical
  • Weekly outlook
  • Market commentary
OnEquity Ltd is incorporated in Seychelles as a Securities Dealer with License No. SD154, authorized by the Seychelles Financial Services Authority (FSA), adhering to the Consolidated Securities Act, 2007. Registration No. 810588-1.

The website is operated and provides content by the OnEquity group of companies, which include:

OnEquity SA (Pty) Ltd, incorporated in South Africa, Company reg. 2021/321834/07, regulated by the Financial Sector Conduct Authority (FSCA) with FSP No. 53187.

OnEquity LLC, recognized by the Registrar of International Business Companies and the Financial Services Authority in St. Vincent and the Grenadines, Registration No. 286 LLC 2020.

ONEQ Global Ltd, registered in Cyprus, Company reg. HE 435383, located at Agias Zonis 22, Limassol, focusing on comprehensive service solutions within the OnEquity Group.
Risk Disclosure: Trading in financial instruments involves substantial risk and may not be suitable for all investors. The value of investments is volatile and can result in total loss of capital. Investors should consider their financial situation, investment experience, and risk tolerance, and may seek professional advice. Past performance is not indicative of future results.

Eligibility: Services are available to individuals 18 years or older.

Restricted Jurisdictions: The content provided by OnEquity is not intended for residents of the United States, Canada, North Korea, Yemen, Iran, Belgium, Syria, or any jurisdiction where such distribution or use would be contrary to local law or regulation.

All trademarks™ and brand names belong to their respective owners and are used here for identification purposes only. Use of these names does not imply endorsement.
© OnEquity. All Rights Reserved.