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EUR/USD traded near $1.1190 and GBP/USD near $1.3420 on November 3 as the dollar softened ahead of US midterm elections and the Bank of England decision. Markets expect the BoE to raise its rate by 25 basis points to 4% on Thursday, with UK inflation at 3.5%.
Lower oil prices have reduced inflation concerns and Treasury yields have retreated.
A softer dollar and lower oil reduce US inflation pressure, which can support commodity prices priced in dollars, while expected BoE tightening supports sterling against the dollar.
economies.comRami HaddadNov 3, 2026After 1,637 past bearish macro events, DXY moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
After 388 past bullish macro events, EURUSD moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), and +0.1% over 20.
Not enough comparable past events yet for a historical read.
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.
