# [MARKET ANALYSIS] DXY pressured into midterms to the benefit of the EUR; JPY underperforms a touch | Newsquawk

> The dollar index traded near the low end of its 101.42 to 101.99 range on November 2, while EUR/USD rose above 1.12. The move followed a drop in Brent of about 4% amid US-Iran diplomacy reports and rising odds of a Democratic sweep in the midterms. Fitch also placed France's rating on negative outlook.

- Date: 2026-11-02 · published 2026-11-02T12:09:00.512Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/75372-market-analysis-dxy-pressured-into-midterms-to-the-benefit-of-the-eur-jpy
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A weaker dollar tends to support dollar-priced commodities, including grains and oilseeds, while lower crude reduces energy and freight costs. Midterm outcomes and the coming US data will drive the dollar's direction this week.

## Read by commodity

- DXY: bearish ▼
- BRENT: bearish ▼
- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-02-11 | [The Federal Reserve and U.S. Treasury Did Not Intervene in FX Markets During the Fourth Quarter - FEDERAL RESERVE BANK of NEW YORK](https://feedsoft.ai/events/48816-the-federal-reserve-and-u-s-treasury-did-not-intervene-in-fx-markets-during-the.md) | +0.5% | +1.2% |
| DXY | 2024-09-23 | [Fed interest cuts ease pressure on Vietnam forex market](https://feedsoft.ai/events/28631-fed-interest-cuts-ease-pressure-on-vietnam-forex-market.md) | -0.2% | +2.5% |
| DXY | 2020-08-31 | [USD: Bear trend under way - ING: Analytics and Market news from 31 August 2020 11:38](https://feedsoft.ai/events/51793-usd-bear-trend-under-way-ing-analytics-and-market-news-from-31-august-2020-11-38.md) | +0.1% | +1.4% |
| DXY | 2019-10-31 | [US Dollar Under "Significant Pressure" As Fed Make A Hawkish Cut And Tipped To Remain On Hold For The Remainder Of 2019 \| Exchange Rates UK](https://feedsoft.ai/events/56776-us-dollar-under-and-quot-significant-pressure-and-quot-as-fed-make-a-hawkish.md) | -0.1% | +0.8% |
| DXY | 2022-03-10 | [Best day in 5-years for EUR/USD ahead of the March ECB meeting](https://feedsoft.ai/events/9525-best-day-in-5-years-for-eur-usd-ahead-of-the-march-ecb-meeting.md) | +0.2% | -0.5% |
| EURUSD | 2022-03-10 | [Best day in 5-years for EUR/USD ahead of the March ECB meeting](https://feedsoft.ai/events/9525-best-day-in-5-years-for-eur-usd-ahead-of-the-march-ecb-meeting.md) | -0.7% | -1.4% |
| EURUSD | 2018-09-30 | [DXY to come off: we like to buy into any dip below 1.1550 in EUR/USD - Nordea - Forex Crunch](https://feedsoft.ai/events/63254-dxy-to-come-off-we-like-to-buy-into-any-dip-below-1-1550-in-eur-usd-nordea.md) | -1.0% | -2.0% |
| EURUSD | 2022-12-14 | [EUR/USD Turns to the Fed & the ECB, After Tuesday’s Jump on Softer US CPI Inflation \| FXCM Markets](https://feedsoft.ai/events/38442-eur-usd-turns-to-the-fed-and-the-ecb-after-tuesday-s-jump-on-softer-us-cpi.md) | +0.0% | +1.8% |

## Sources

- newsquawk.com: https://www.newsquawk.com/headlines/market-analysis-dxy-pressured-into-midterms-to-the-benefit-of-the-eur-jpy-underperforms-a-touch

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