# Have Markets Found a Turning Point Ahead of the Elections?

> Fed rate-hike bets above 70% have pushed silver and the Dow Jones toward key technical support levels. Silver's daily RSI is testing oversold conditions last seen in 2023, and the Dow is pulling back toward Fibonacci retracement levels. Rising December hike expectations, elevated crude and political uncertainty ahead of the US midterms are weighing on precious metals.

- Date: 2026-11-02 · published 2026-11-02T09:13:50.743Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/75302-have-markets-found-a-turning-point-ahead-of-the-elections
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Higher-for-longer rate expectations strengthen the dollar and raise the cost of holding non-yielding assets, which can weigh on broad commodity sentiment. For feed buyers, the direct price link is weak, but tighter financial conditions can pressure risk assets and commodity funds.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-12-18 | [Fed’s policy decisions have a deep impact in emerging markets - The Globe and Mail](https://feedsoft.ai/events/61747-fed-s-policy-decisions-have-a-deep-impact-in-emerging-markets-the-globe-and-mail.md) | -0.2% | -1.8% |
| DXY | 2024-10-30 | [The US Dollar Is Rising on Renewed Confidence in the US Economy and Market Fluctuations Ahead of the US Election - Desjardins](https://feedsoft.ai/events/28118-the-us-dollar-is-rising-on-renewed-confidence-in-the-us-economy-and-market.md) | -0.2% | +1.6% |
| DXY | 2023-01-27 | [Are there any positives for the pound ahead of the Bank of England meeting?](https://feedsoft.ai/events/38023-are-there-any-positives-for-the-pound-ahead-of-the-bank-of-england-meeting.md) | -0.6% | +2.1% |
| DXY | 2021-03-29 | [US Dollar May Still Have Edge as Emerging Markets Underperform Ahead of NFPs \| Forex trading, free forex education \| Forex.ca](https://feedsoft.ai/events/48383-us-dollar-may-still-have-edge-as-emerging-markets-underperform-ahead-of-nfps.md) | -0.0% | -1.5% |
| DXY | 2021-06-22 | [Why a hawkish US Fed is reverberating around markets \| The National](https://feedsoft.ai/events/46489-why-a-hawkish-us-fed-is-reverberating-around-markets-the-national.md) | -0.7% | +0.8% |

## Sources

- forex.com: https://www.forex.com/en-us/news-and-analysis/have-markets-found-a-turning-point-ahead-of-the-elections/

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