President Trump's approval rating has ticked upward by one point from a record low, according to a new Reuters/Ipsos survey released Monday. The poll shows 32% of U.S. adults approve of the president's job performance, while 66% disapprove, a modest improvement from the 31% approval recorded last week.

The slight uptick comes amid ongoing economic strain and the administration's military conflict with Iran, which have weighed heavily on public sentiment. Rising costs and trade disputes with allies like Canada have further complicated the president's political position.

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These numbers are casting a long shadow over Republican hopes for the upcoming midterm elections. Trump has repeatedly urged voters to treat the election as a referendum on his presidency, telling a crowd at the GOP's September convention in Dallas, "I'm asking you to pretend that I'm on the ballot." He warned that a Democratic victory would mean losing the border, tax cuts, safety, and wealth.

Trump also promised to send $5,000 to every U.S. adult if Republicans maintain control of both chambers of Congress next year, a pledge that has drawn both attention and skepticism.

Before the Iran conflict began on Feb. 28, polls showed Republicans held an advantage over Democrats on economic issues. However, the latest survey indicates a shift: 37% of voters now say Democrats have a better approach to the economy, compared to 33% who prefer Republicans.

The GOP is also trying to close an enthusiasm gap. The poll found that 46% of Democratic voters are "very enthusiastic" about voting, versus only 30% of Republicans. On a generic ballot, Democrats lead Republicans by 11 points (47% to 36%).

In response, Trump has been stumping for candidates in battleground states like Texas and Georgia, but some Senate Republicans worry his presence could alienate independent voters and hurt vulnerable incumbents. The president's recent rally swing through Texas underscores the party's reliance on his base even as it risks backlash from moderates.

The Reuters/Ipsos poll surveyed 1,679 U.S. adults from Oct. 22-26 and has a margin of error of 2 percentage points.