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The euro rose on Monday to around 1.1204 US dollars in the afternoon, up from slightly lower levels in early trade. The European Central Bank set its reference rate at 1.1216, compared with 1.1172 on Friday.
Oil prices fell sharply as US President Trump prioritised diplomacy with Iran, and Fitch revised France's rating outlook to negative on Friday.
Lower oil prices ease inflation expectations and weaken the dollar, since crude is priced in dollars, which supports the euro. For feed buyers, the drop in energy costs reduces pressure on freight and fertiliser inputs, though the currency move is modest.
ad-hoc-news.deRafael MüllerNov 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 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.
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 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.
