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The US dollar fell to a five-week low against major currencies on November 2 as crude oil prices declined on reports of renewed US-Iran diplomacy. The Dollar Index traded near 101.60, with EUR/USD rising toward 1.1216 and GBP/USD above 1.34.
Lower oil prices ease inflation fears and Treasury yields, weakening dollar demand. A weaker dollar supports dollar-priced commodities such as grains and oilseeds for non-US buyers, while the oil retreat reduces energy and freight cost pressure.
economies.comRami HaddadNov 2, 2026After 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.
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 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.
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.
