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Democrats won control of both chambers of Congress in the US midterm elections, and the dollar came under pressure while US bond yields fell. Oil dropped, easing inflation concerns.
Markets still price about an 80% chance of a Fed rate hike in December after strong ADP employment data.
Fiscal gridlock expectations and lower oil reduce inflation and yield pressure, weakening the dollar. Strong labor data and Fed hike bets could limit that dollar decline, leaving commodity price direction uncertain.
investing.comBekhzod RakhmatovNov 5, 2026After 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.
