# Dollar steadies as U.S. midterms loom; euro digests Fitch outlook downgrade

> The US dollar held steady on Monday as traders awaited the midterm elections, with the Dollar Index near 101.94. The euro was pressured by French debt concerns after Fitch revised France's outlook to negative, and USD/JPY hovered near the 158 intervention zone. Oil remained central to the macro trade.

- Date: 2026-11-02 · published 2026-11-02T12:08:13.496Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/75352-dollar-steadies-as-u-s-midterms-loom-euro-digests-fitch-outlook-downgrade
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

A stable dollar with a weak euro and a yen near intervention levels affects the cost of imported feed ingredients for European and Japanese buyers. Oil-driven energy prices also feed through to freight and input costs.

## Read by commodity

- DXY: neutral
- EURUSD: bearish ▼
- USDJPY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2025-03-31 | [Pound steadies against dollar as US trade tariffs loom](https://feedsoft.ai/events/25831-pound-steadies-against-dollar-as-us-trade-tariffs-loom.md) | -0.5% | -2.8% |
| DXY | 2021-07-02 | [Dollar's near-term outlook bright, but to fade in a year](https://feedsoft.ai/events/46249-dollar-s-near-term-outlook-bright-but-to-fade-in-a-year.md) | +0.1% | -0.1% |
| DXY | 2021-06-25 | [Dollar steady after U.S. inflation data misses estimates](https://feedsoft.ai/events/46773-dollar-steady-after-u-s-inflation-data-misses-estimates.md) | +0.4% | +1.0% |
| DXY | 2024-02-16 | [Dollar steady after producer prices push back on Fed rate cut outlook](https://feedsoft.ai/events/31574-dollar-steady-after-producer-prices-push-back-on-fed-rate-cut-outlook.md) | -0.1% | -0.7% |
| DXY | 2025-02-26 | [US dollar rises as economic, tariff outlook gauged](https://feedsoft.ai/events/26223-us-dollar-rises-as-economic-tariff-outlook-gauged.md) | +0.5% | -1.0% |
| EURUSD | 2020-09-17 | [Dollar edges higher as Fed outlook lifts U.S. yields \| Financial Post](https://feedsoft.ai/events/7697-dollar-edges-higher-as-fed-outlook-lifts-u-s-yields-financial-post.md) | -1.3% | -1.1% |
| EURUSD | 2026-06-19 | [Euro steadies as the US Dollar eases, but hawkish Fed bets limit upside](https://feedsoft.ai/events/11518-euro-steadies-as-the-us-dollar-eases-but-hawkish-fed-bets-limit-upside.md) | -0.6% | -0.5% |
| EURUSD | 2021-02-02 | [Dollar stands tall on better U.S. outlook vs Europe \| Financial Post](https://feedsoft.ai/events/48853-dollar-stands-tall-on-better-u-s-outlook-vs-europe-financial-post.md) | -0.2% | +0.1% |

## Sources

- streetinsider.com: https://www.streetinsider.com/Investing/Dollar+steadies+as+U.S.+midterms+loom%3B+euro+digests+Fitch+outlook+downgrade/27268924.html

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