The euro eased slightly after a three-day rally as energy prices rose on uncertainty over the Iran war. Democrats won majorities in both chambers of Congress.
Analysts flagged French fiscal concerns and possible limits to further ECB tightening.
Rising energy prices and the Iran war risk premium feed into feed and fertiliser costs, while currency moves change the dollar cost of imports for euro-area buyers.
After 129 past neutral macro events, Euro (USD per EUR) moved a median -0.1% over 5 sessions (45% higher; middle half -0.5% to +0.5%), and +0.1% over 20.
After 323 past bullish macro events, Crude Oil (Brent) moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% 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.