# Global commodities trade mixed, currencies shift after US midterm elections

> Brent crude fell below $94 to a two-month low and WTI slipped to about $87 as Democrats won control of both chambers of Congress in the US midterm elections. The dollar index dropped to 101.06 and the euro rose to $1.1263, its highest since early October.

- Date: 2026-11-05 · published 2026-11-05T18:12:49.922Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/82160-global-commodities-trade-mixed-currencies-shift-after-us-midterm-elections
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Lower crude weakens energy-linked costs for feed production, freight and fertilizer, and a softer dollar tends to support US commodity prices in dollar terms. Expectations of reduced inflation pressure also lower the odds of near-term rate hikes.

## Read by commodity

- DXY: bearish ▼
- WTI: bearish ▼
- BRENT: bearish ▼
- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-10-30 | [Commodity currencies slide on oil, dollar braces for election \| Financial Post](https://feedsoft.ai/events/50816-commodity-currencies-slide-on-oil-dollar-braces-for-election-financial-post.md) | +7.3% | +26.5% |
| WTI | 2019-03-01 | [FX: The complexities of commodity-linked currencies - Euromoney](https://feedsoft.ai/events/60324-fx-the-complexities-of-commodity-linked-currencies-euromoney.md) | -1.0% | +3.6% |
| WTI | 2026-02-02 | [Slump in commodities rattles global markets \| Reuters](https://feedsoft.ai/events/20505-slump-in-commodities-rattles-global-markets-reuters.md) | -1.6% | +9.9% |
| WTI | 2021-01-29 | [Global Market Insights: Commodities’ risks; USD and CAD unchanged \| article](https://feedsoft.ai/events/49371-global-market-insights-commodities-risks-usd-and-cad-unchanged-article.md) | +7.5% | +17.7% |
| WTI | 2021-06-18 | [Explained: What spurred the global commodity market sell-off? - CNBC TV18](https://feedsoft.ai/events/5760-explained-what-spurred-the-global-commodity-market-sell-off-cnbc-tv18.md) | +3.2% | +1.0% |
| BRENT | 2020-10-30 | [Commodity currencies slide on oil, dollar braces for election \| Financial Post](https://feedsoft.ai/events/50816-commodity-currencies-slide-on-oil-dollar-braces-for-election-financial-post.md) | +8.3% | +27.9% |
| BRENT | 2026-02-02 | [Slump in commodities rattles global markets \| Reuters](https://feedsoft.ai/events/20505-slump-in-commodities-rattles-global-markets-reuters.md) | -3.1% | +0.6% |
| BRENT | 2022-04-21 | [Growth slowdown fears temper bullishness on commodity currencies \| CNBC Africa](https://feedsoft.ai/events/6863-growth-slowdown-fears-temper-bullishness-on-commodity-currencies-cnbc-africa.md) | -1.5% | +3.4% |

## Sources

- aa.com.tr: https://www.aa.com.tr/en/economy/global-commodities-trade-mixed-currencies-shift-after-us-midterm-elections/4112239

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