The Australian and New Zealand dollars strengthened on November 5 as the US dollar weakened after Democrats won control of both chambers of Congress. AUD/USD rose about 0.14% to $0.7015 and NZD/USD gained about 0.36% to $0.5639.
US Treasury yields fell, narrowing the dollar's interest-rate advantage.
A weaker US dollar and firmer Aussie and Kiwi currencies make US exports of grains and oilseeds relatively more expensive for Australian and New Zealand buyers, while lifting US dollar prices for commodities priced in those currencies.
Not enough comparable past events yet for a historical read.
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.