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The euro climbed back above $1.12 after touching 17-month lows, helped by lower oil prices and uncertainty ahead of the US midterm elections. Reports that Trump would give Iran diplomacy more time pushed oil down.
The ECB held rates unchanged on Thursday, and Lagarde said a hike had been discussed.
Lower energy prices reduce pressure on the dollar's safe-haven bid and ease the cost of imported energy and fertiliser that feeds into feed production. Currency moves of this size have only a modest direct effect on feed prices.
tradingview.comNov 2, 2026After 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.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
