# Dollar falls ahead of US midterms as oil plummets

> The dollar eased on Monday as oil prices fell about 7% on hopes that Iranian and Qatari talks could end the US-Israeli war with Iran. Treasury yields also retreated ahead of the US midterm elections and a run of US labor market data.

- Date: 2026-11-02 · published 2026-11-03T03:07:50.957Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/76868-dollar-falls-ahead-of-us-midterms-as-oil-plummets
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Lower crude prices reduce expected energy costs and feed into freight, fertilizer and biofuel input costs, which eases pressure on feed prices. A softer dollar modestly supports dollar-priced commodities.

## Read by commodity

- DXY: bearish ▼
- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-02-02 | [Oil prices fall as US stock market slumps and dollar strengthens](https://feedsoft.ai/events/66659-oil-prices-fall-as-us-stock-market-slumps-and-dollar-strengthens.md) | -7.0% | -7.1% |
| WTI | 2023-05-30 | [Canadian dollar dips as oil prices fall more than 4%](https://feedsoft.ai/events/36186-canadian-dollar-dips-as-oil-prices-fall-more-than-4.md) | -0.4% | -6.6% |
| WTI | 2023-11-01 | [Oil falls to settle at 3-week low as Fed policy stance lifts dollar](https://feedsoft.ai/events/33077-oil-falls-to-settle-at-3-week-low-as-fed-policy-stance-lifts-dollar.md) | -4.5% | -4.6% |
| WTI | 2017-01-27 | [Canadian dollar weakens as oil falls, investors brace for Poloz](https://feedsoft.ai/events/73216-canadian-dollar-weakens-as-oil-falls-investors-brace-for-poloz.md) | +0.2% | +1.1% |
| WTI | 2021-12-15 | [Canadian dollar at nearly 3-month low as oil prices fall \| Reuters](https://feedsoft.ai/events/43853-canadian-dollar-at-nearly-3-month-low-as-oil-prices-fall-reuters.md) | +0.7% | +16.9% |
| BRENT | 2018-02-02 | [Oil prices fall as US stock market slumps and dollar strengthens](https://feedsoft.ai/events/66659-oil-prices-fall-as-us-stock-market-slumps-and-dollar-strengthens.md) | -6.3% | -5.6% |
| BRENT | 2023-11-01 | [Oil falls to settle at 3-week low as Fed policy stance lifts dollar](https://feedsoft.ai/events/33077-oil-falls-to-settle-at-3-week-low-as-fed-policy-stance-lifts-dollar.md) | -5.3% | -6.2% |
| BRENT | 2022-12-06 | [Ringgit ends lower against US dollar as oil prices decline \| Malay Mail](https://feedsoft.ai/events/38501-ringgit-ends-lower-against-us-dollar-as-oil-prices-decline-malay-mail.md) | -6.1% | -7.8% |

## Sources

- finance.yahoo.com: https://finance.yahoo.com/markets/currencies/articles/dollar-dithers-ahead-us-midterms-053832846.html
- financialnewsletter.com: https://financialnewsletter.com/dollar-falls-ahead-of/
- lufkindailynews.com: https://lufkindailynews.com/news_reuters/business/dollar-falls-ahead-of-us-midterms-as-oil-plummets/article_ed5eb710-804d-5000-bf7c-af22e624218c.html

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