The euro rose for a fourth straight session, reaching $1.1268 and touching its highest level since October 6. Lower energy prices supported the currency after Republicans lost control of Congress in the midterm elections, raising hopes of an easing in the Iran conflict.
Lower energy prices reduce the cost pressure on feed and fertilizer inputs, and a weaker dollar tends to support US dollar-priced commodity demand from Europe. The effect on grain and oilseed prices is indirect and modest.
After 388 past bullish macro events, Euro (USD per EUR) moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), and +0.1% 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.