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The AUD/USD pair rebounded from a 12-day low of 0.6954 to reclaim 0.7000 after Democrats swept the US midterm elections. The US Dollar Index fell 0.36% to 101.53 and WTI crude dropped nearly 9% to $88.05 per barrel.
A weaker dollar and sharply lower crude reflect expectations that the Iran war may end, which lowers energy costs for feed production and transport. Currency moves matter for feed ingredient import costs in AUD-based markets.
fxstreet.comChristian Borjon ValenciaNov 4, 2026After 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.
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.
Not enough comparable past events yet for a historical read.
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.
