Euro Strengthens Against US Dollar Following Democratic Midterm Victory

Key Facts

The EUR/USD pair rose to near 1.1245 during early Asian trading hours on Thursday, November 5, 2026. FXStreet reported that the US Dollar weakened against the Euro as Democrats took control of the US Congress following the midterm elections.

The Euro's strength was further supported by economic data showing the annual inflation rate in the Eurozone reached 4% on November 4, 2026, up from the previous reading of 3.8%. Additionally, the annual GDP growth rate for the region was recorded at 1.3% on October 30, 2026, exceeding the forecast of 1.1%.

ECB President Christine Lagarde is scheduled to deliver a speech later today, November 5, 2026. Markets are also awaiting the release of Eurozone annual Retail Sales data tomorrow, November 6, 2026, which is forecasted at 0.6%.