EU Market Open: Crude stays pressured and gold returns above USD 4,100/oz after the Democratic sweep; BoE expected to hike

Newsquawk Rundown, Daily Podcast · Nov 5, 2026 · 2m

US President Trump said it was "largely true" that Republicans lost the midterms because of the Iran war, while he said he is not replacing War Secretary Hegseth.

APAC stocks were mixed after the rally on Wall Street, with a rotation out of chip names; US equity futures are mixed, with the NQ lagging, while European equity futures point to a positive open.

DXY remained subdued post-Midterms alongside lower yields; USTs and Bunds extend gains as lower oil eases inflation concerns.

Crude remained pressured after Wednesday's slump, while spot gold returned to levels above USD 4,100/oz.

Looking…