
The euro held modest gains against the dollar on Monday as Brent fell more than 2% below $110 on Qatari mediation efforts toward resuming US-Iran peace talks. German retail sales unexpectedly fell 2% month on month in September, against expectations of a 0.4% rise.
Investors were also positioning ahead of the US midterm elections.
Lower crude eases cost pressure on oil-importing Europe and trims energy-driven inflation risk, which feeds into feed and fertiliser input costs. A softer dollar ahead of the midterms also supports dollar-denominated commodity prices.
After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% over 20.
After 388 past bullish macro events, Euro (USD per EUR) moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), and +0.1% 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.