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EUR/USD traded little changed near 1.1139 as traders watched the US midterm elections and US-Iran negotiations. Oil prices were volatile on unconfirmed reports of concessions over Iran's nuclear programme and frozen funds, and on a reported US strike on Iran's Qeshm Island.
Markets priced a 75% chance of another Fed rate hike in December.
Geopolitical swings in crude keep energy costs and inflation expectations volatile, which feeds into feed-ingredient and freight costs. Expectations of further Fed tightening support the dollar and weigh on dollar-denominated grain and oilseed prices.
fxstreet.comVishal ChaturvediNov 3, 2026After 129 past neutral macro events, EURUSD moved a median -0.1% over 5 sessions (45% higher; middle half -0.5% to +0.5%), and +0.1% over 20.
After 2,356 past bullish macro events, DXY moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
After 54 past neutral macro events, BRENT moved a median +0.4% over 5 sessions (57% higher; middle half -2.8% to +2.5%), and +0.6% over 20.
After 102 past neutral macro events, WTI moved a median -0.1% over 5 sessions (49% higher; middle half -3.3% to +2.5%), and +1.8% 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.
