# Euro holds gains as US Dollar weakens following midterm elections

> EUR/USD held gains as the dollar weakened after Democrats won control of Congress. The DXY traded near 101.45 and WTI fell about 9% to around $87 a barrel on expectations that a Democratic Congress could limit funding for the Iran campaign.

- Date: 2026-11-04 · published 2026-11-04T21:08:25.769Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/80464-euro-holds-gains-as-us-dollar-weakens-following-midterm-elections
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Lower crude oil reduces biofuel and diesel cost pressure and weakens the energy-driven feed cost premium, while a softer dollar supports dollar-priced commodity demand from abroad.

## Read by commodity

- DXY: bearish ▼
- WTI: bearish ▼
- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-02-28 | [Baht gains more ground, as US dollar weakens](https://feedsoft.ai/events/54839-baht-gains-more-ground-as-us-dollar-weakens.md) | -2.6% | -61.0% |
| WTI | 2020-03-27 | [Ringgit extends gains against US dollar in early session \| FMT](https://feedsoft.ai/events/54377-ringgit-extends-gains-against-us-dollar-in-early-session-fmt.md) | +37.1% | -32.8% |
| WTI | 2024-01-31 | [Canadian dollar weakens as Fed rate signal offsets GDP gain - The Globe and Mail](https://feedsoft.ai/events/32333-canadian-dollar-weakens-as-fed-rate-signal-offsets-gdp-gain-the-globe-and-mail.md) | -6.0% | +1.3% |
| WTI | 2023-02-15 | [Canadian dollar weakens as U.S. data boosts Fed rate hike prospects - The Globe and Mail](https://feedsoft.ai/events/37578-canadian-dollar-weakens-as-u-s-data-boosts-fed-rate-hike-prospects-the-globe.md) | -6.5% | -14.7% |
| WTI | 2022-12-06 | [Ringgit ends lower against US dollar as oil prices decline \| Malay Mail](https://feedsoft.ai/events/38501-ringgit-ends-lower-against-us-dollar-as-oil-prices-decline-malay-mail.md) | -5.0% | -5.3% |
| DXY | 2020-02-28 | [Baht gains more ground, as US dollar weakens](https://feedsoft.ai/events/54839-baht-gains-more-ground-as-us-dollar-weakens.md) | -0.5% | +4.3% |
| DXY | 2025-03-04 | [Euro gains after German debt reform; US dollar falls](https://feedsoft.ai/events/5800-euro-gains-after-german-debt-reform-us-dollar-falls.md) | -1.2% | -0.8% |
| DXY | 2025-06-30 | [Sterling holds ground near 4-year high as dollar weakens \| Moneycorp](https://feedsoft.ai/events/24479-sterling-holds-ground-near-4-year-high-as-dollar-weakens-moneycorp.md) | -0.0% | +0.8% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/euro-holds-gains-as-us-dollar-weakens-following-midterm-elections-202611041822

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.