# Dollar Outlook Hinges on NFP as Fed Signals Data Dependence

> EUR/USD was forming a double bottom near 1.1100 as markets looked ahead to the week's data. The Fed and ECB held rates last week, and CME FedWatch showed about a 70% probability of a December hike. Key events included the US midterm elections, the US Services PMI, the BoE decision and the Friday US payrolls report.

- Date: 2026-11-02 · published 2026-11-02T09:09:09.317Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/75238-dollar-outlook-hinges-on-nfp-as-fed-signals-data-dependence
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of further US tightening support the dollar, which can pressure dollar-priced feed commodities. The outcome depends on the payrolls and election results, so the near-term direction for grains and meal is uncertain.

## Read by commodity

- DXY: neutral

## Sources

- binaryoptions.net: https://www.binaryoptions.net/dollar-outlook-hinges-on-nfp-as-fed-signals-data-dependence

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