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Scotiabank says the euro firmed near 1.1240 as the dollar softened after the US midterms. Eurozone October CPI was confirmed at 4.0% year-on-year, and several ECB officials signaled a December rate hike is likely.
A firmer euro and a weaker dollar lower the dollar cost of US commodity exports priced in USD, a mild support for US grain and oilseed prices, while ECB tightening raises financing costs for European feed buyers.
fxstreet.comFXStreet Insights TeamNov 4, 2026After 388 past bullish macro events, Euro (USD per EUR) moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), and +0.1% over 20.
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.
