# Peso climbs back to P62-to-$1 level on US Democratic sweep

> The Philippine peso gained 56.5 centavos to close at P62.97 per dollar on November 5 amid optimism that the US-Iran war would end soon after Democrats won control of both chambers of Congress in the midterm elections. Analysts said lower oil prices and Treasury yields were driving the move.

- Date: 2026-11-05 · published 2026-11-05T12:10:21.480Z
- Category: macro · region Philippines · magnitude low
- Page: https://feedsoft.ai/events/81662-peso-climbs-back-to-p62-to-1-level-on-us-democratic-sweep
- Commodities: [Philippine Peso (PHP per USD)](https://feedsoft.ai/c/USDPHP.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Expectations of an end to the Iran conflict and lower oil prices reduce freight and energy costs for feed importers, while a firmer peso eases the cost of dollar-priced feed ingredients in the Philippines.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- USDPHP: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-03-30 | [USD/CAD climbs to daily highs above 1.4150 as WTI extends slide below $20 - Forex Crunch](https://feedsoft.ai/events/54357-usd-cad-climbs-to-daily-highs-above-1-4150-as-wti-extends-slide-below-20-forex.md) | +64.1% | -28.3% |
| WTI | 2020-03-30 | [Coronavirus: Oil price collapses to lowest level for 18 years - BBC News](https://feedsoft.ai/events/5323-coronavirus-oil-price-collapses-to-lowest-level-for-18-years-bbc-news.md) | +64.1% | -28.3% |
| WTI | 2020-11-05 | [Canadian dollar climbs to two-month high as greenback slides - The Globe and Mail](https://feedsoft.ai/events/50389-canadian-dollar-climbs-to-two-month-high-as-greenback-slides-the-globe-and-mail.md) | +5.8% | +17.0% |
| WTI | 2018-02-12 | [Canadian Dollar's Correlation to Oil is Back, and this Could Spell Downside](https://feedsoft.ai/events/66729-canadian-dollar-s-correlation-to-oil-is-back-and-this-could-spell-downside.md) | +4.4% | +3.6% |
| WTI | 2020-07-30 | [USD/CAD jumps to weekly highs above 1.3450 on oil selloff — Octa](https://feedsoft.ai/events/52353-usd-cad-jumps-to-weekly-highs-above-1-3450-on-oil-selloff-octa.md) | +2.6% | +5.1% |
| BRENT | 2020-03-30 | [Coronavirus: Oil price collapses to lowest level for 18 years - BBC News](https://feedsoft.ai/events/5323-coronavirus-oil-price-collapses-to-lowest-level-for-18-years-bbc-news.md) | +21.9% | -26.3% |
| BRENT | 2025-10-01 | [Oil slumps to 16-week low on U.S. shutdown and possible OPEC+ plans](https://feedsoft.ai/events/23037-oil-slumps-to-16-week-low-on-u-s-shutdown-and-possible-opec-plans.md) | -2.2% | -5.2% |
| BRENT | 2024-05-03 | [Oil settles down on US jobs data, steepest weekly loss in 3 months \| Reuters](https://feedsoft.ai/events/7229-oil-settles-down-on-us-jobs-data-steepest-weekly-loss-in-3-months-reuters.md) | -0.8% | -4.4% |

## Sources

- gmanetwork.com: https://www.gmanetwork.com/news/money/economy/1008418/peso-climbs-back-to-p62-to-1-level-on-us-democratic-sweep/story/

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