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Back Fundamental analysis
EUR/USD: fundamental outlook on November 2, 2026
EUR/USD started November with a gain:
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EUR/USD started November with a gain: on Monday the euro rose about 0.5% to 1.1237 after closing last week at 1.1160. That is a notable bounce after the pair hit a year low of 1.1104 on October 29. But does it signal a reversal? Judging by the fundamental picture, not yet: the rise is explained by lower oil prices and position-squaring ahead of U.S. elections, while the euro's main problems remain. What supported the euro on Monday? The primary factor was oil.
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Valeria Podolskaya,
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