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EUR/USD trades just below 1.1200 as the dollar stabilises after stronger US data, including a rise in the ISM Manufacturing PMI to 55.5 in October. Markets price over a 70% chance of a Fed rate hike in December, and France's debt concerns weigh on the euro ahead of the US midterm elections.
Higher US rate expectations and a firmer dollar lower the USD price of dollar-denominated grain and meal exports and can ease US-priced commodity import costs for other markets; the effect on feed prices is modest and mainly indirect.
fxstreet.comHaresh MenghaniNov 3, 2026After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
After 533 past bearish macro events, Euro (USD per EUR) moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), and -0.5% 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.
