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The euro gained as the US dollar fell alongside Treasury yields and oil prices after the Democrats' midterm victory. Eurozone inflation accelerated to 4%, the highest since September 2023, raising expectations of an ECB rate hike in December.
Lower oil prices are seen easing pressure on energy-importing economies.
A stronger euro and lower energy costs ease the import bill for European feed users and can support EU demand for dollar-priced grain and meal. The effect on commodity prices is limited, though lower oil reduces biofuel and freight cost pressure.
fxstreet.comAlexander KuptsikevichNov 5, 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 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% 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.
