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The US dollar fell broadly after a Democratic win in the midterm elections, with sterling and gold rallying. Oil prices were also down about 3.5%, and markets are awaiting the Bank of England decision and Friday's US payrolls report.
A softer dollar and lower oil prices reduce US-denominated input costs for importers, while lower energy costs ease pressure on feed production expenses. The upcoming BoE and payrolls data add event risk to currency and commodity prices.
forex.comFawad RazaqzadaNov 4, 2026Not enough comparable past events yet for a historical read.
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.
After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% 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.
