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The Bank of England raised its policy rate by a quarter point to 4%, its first hike in the cycle, as widely expected, while the Norges Bank held its deposit rate at 4.5%. Following the US midterm results, December WTI fell 8.3% in a single session, the largest one-day drop since the Iran war began, and this pulled yields lower.
A higher UK rate supports sterling against the dollar, which lowers the cost of UK-sourced feed ingredients priced in dollars and can reduce demand for dollar-linked commodity imports. The sharp oil drop eases energy and freight cost pressure on feed supply chains.
talkmarkets.comMarc ChandlerNov 5, 2026
investing.comMarc ChandlerNov 5, 2026Not enough comparable past events yet for a historical read.
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.
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.
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.
