The dollar continued to fall after Democrats won control of both chambers of Congress, reducing expectations for fiscal stimulus, tax cuts, and tariff measures. Investors also lowered Fed rate-hike expectations as Treasury yields retreated, while markets awaited October US jobs data.
A weaker dollar can support dollar-denominated feed commodity prices by making them cheaper for overseas buyers. The currency move reflects changing policy and rate expectations rather than a new commodity supply or demand development.
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.