# US Dollar Bears Still Need the Fed to Blink

> The dollar weakened after the Democratic midterm sweep, with Treasury yields falling and oil collapsing as the Iran war premium unwound; Brent dropped roughly 10% in a single session. Markets still price a December Fed hike, which limits further dollar downside.

- Date: 2026-11-05 · published 2026-11-05T12:12:38.394Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/81690-us-dollar-bears-still-need-the-fed-to-blink
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Lower oil eases the terms-of-trade squeeze on energy-importing Asian currencies and reduces input costs for feed and biofuel chains. A firm dollar and pending Fed hike cap any broad commodity rally priced in dollars.

## Read by commodity

- DXY: bearish ▼
- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-08-07 | [U.S. dollar - When will bulls turn to bears?](https://feedsoft.ai/events/57763-u-s-dollar-when-will-bulls-turn-to-bears.md) | +0.0% | +0.8% |
| DXY | 2019-06-20 | [Dovish Fed Hits The US Dollar \| ECONOMETER](https://feedsoft.ai/events/58783-dovish-fed-hits-the-us-dollar-econometer.md) | -1.1% | -0.8% |
| DXY | 2024-09-30 | [US Dollar Forecast: Fed’s easing weighs on the Dollar](https://feedsoft.ai/events/28507-us-dollar-forecast-fed-s-easing-weighs-on-the-dollar.md) | +0.9% | +3.1% |
| DXY | 2026-05-29 | [Euro-Dollar: Why Markets Think The ECB Will Hike Before The Fed](https://feedsoft.ai/events/19473-euro-dollar-why-markets-think-the-ecb-will-hike-before-the-fed.md) | +0.3% | +1.6% |
| DXY | 2021-07-30 | [US Dollar To Yen Likely To Be Capped Near 110 Say MUFG](https://feedsoft.ai/events/46300-us-dollar-to-yen-likely-to-be-capped-near-110-say-mufg.md) | +0.3% | +1.2% |
| BRENT | 2026-06-19 | [Euro steadies as the US Dollar eases, but hawkish Fed bets limit upside](https://feedsoft.ai/events/11518-euro-steadies-as-the-us-dollar-eases-but-hawkish-fed-bets-limit-upside.md) | -6.4% | +3.9% |
| BRENT | 2022-06-14 | [Fed risk drubs stocks; dollar, bond yields soar \| Reuters](https://feedsoft.ai/events/40850-fed-risk-drubs-stocks-dollar-bond-yields-soar-reuters.md) | -7.7% | -11.5% |
| BRENT | 2023-11-01 | [Oil falls to settle at 3-week low as Fed policy stance lifts dollar](https://feedsoft.ai/events/33077-oil-falls-to-settle-at-3-week-low-as-fed-policy-stance-lifts-dollar.md) | -5.3% | -6.2% |

## Sources

- uk.investing.com: https://uk.investing.com/analysis/us-dollar-bears-still-need-the-fed-to-blink-200629273

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