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European Morning Brief · Wednesday 4 November 2026

The Trade Academy Team

Nov 4

1 min read

Democrats take control of Congress — the dollar slides, gold jumps and Europe opens higher
Democrats won control of both houses of Congress in the US midterm elections, according to projections by US news networks, ending two years of single-party government in Washington. The dollar fell to a one-month low, with the euro up 0.54% at 1.1255, and gold jumped 2.6% back above $4,000 to $4,042.40, while US stock futures are steady. President Trump linked the result to voters' unhappiness over fuel costs during the Iran war, and Iran's chief negotiator said Americans had voted "no to war". In the Gulf, Iran's Revolutionary Guards said four tankers were ablaze after hitting mines. China's markets surged on a robotics rally, and European shares have opened higher after Tuesday's 0.58% fall. — Oil falls on Iran talks in Doha — as markets brace for the US midterms after a brutal week for tech

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