Democrats secured both the House and Senate in the US midterm elections, limiting Trump's room for tax cuts, stimulus and deregulation. The dollar and Treasury yields fell as traders scaled back expectations of further Fed hikes, though a December hike is still widely expected.
A weaker dollar and lower yields make dollar-priced commodities cheaper for overseas buyers and support commodity prices. Reduced fiscal stimulus and tariff expectations also feed into the outlook for US growth and trade.
After 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.
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.