# Commodities Relief Rally As U.S. Dollar Breaks Down - InvestingHaven

> Commodities rallied in the week to May 22 as the US dollar weakened, with crude oil up 6 percent, copper up 4.8 percent, gold up 2.5 percent and wheat up 3 percent. The commentary describes the move as a tactical relief rally rather than a sustained bull market. It expects consolidation to continue.

- Date: 2017-05-22 · published 2017-05-22T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/10222-commodities-relief-rally-as-u-s-dollar-breaks-down-investinghaven
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

A weaker dollar makes dollar-priced commodities cheaper for foreign buyers and supports prices, while higher crude supports biofuel-linked feedstocks. The article frames the rally as temporary, so the price implication is modest.

## Read by commodity

- DXY: bearish ▼
- WTI: bullish ▲
- WHEAT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2017-05-22 | 1 | +2.7% | 3.4 | A broad commodity relief rally on a weakening US dollar, with wheat up about 3% for the week to May 22, directly matches the timing and direction of the move through currency and sentiment channels. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-07-27 | [Dollar’s weakness boosts rally in commodities and currencies - Gulf Times](https://feedsoft.ai/events/5318-dollar-s-weakness-boosts-rally-in-commodities-and-currencies-gulf-times.md) | -0.8% | -0.9% |
| DXY | 2023-11-14 | [Canadian dollar rallies as investors cheer U.S. inflation data](https://feedsoft.ai/events/33408-canadian-dollar-rallies-as-investors-cheer-u-s-inflation-data.md) | -1.8% | -1.4% |
| DXY | 2017-10-13 | [Commodities Make Gains as US Dollar Slips](https://feedsoft.ai/events/68392-commodities-make-gains-as-us-dollar-slips.md) | +0.1% | +1.1% |
| DXY | 2018-02-22 | [NZ dollar follows Wall Street, commodities higher as investors reassess US rate track \| BusinessDesk](https://feedsoft.ai/events/66410-nz-dollar-follows-wall-street-commodities-higher-as-investors-reassess-us-rate.md) | +0.5% | -0.1% |
| DXY | 2021-02-25 | [Weak U.S. Dollar Benefits Some Ag Commodities \| Feed & Grain](https://feedsoft.ai/events/48780-weak-u-s-dollar-benefits-some-ag-commodities-feed-and-grain.md) | +0.9% | +1.7% |
| WTI | 2019-06-20 | [The Commodities Feed: Dovish Fed sees commodities rally \| snaps \| ING THINK](https://feedsoft.ai/events/58509-the-commodities-feed-dovish-fed-sees-commodities-rally-snaps-ing-think.md) | +10.2% | +2.6% |
| WTI | 2020-05-18 | [Dollar struggles as rising oil prices lift commodity currencies](https://feedsoft.ai/events/53034-dollar-struggles-as-rising-oil-prices-lift-commodity-currencies.md) | +13.5% | +26.0% |
| WTI | 2023-07-31 | [Canadian dollar notches monthly gain as commodity currencies rally - The Globe and Mail](https://feedsoft.ai/events/35271-canadian-dollar-notches-monthly-gain-as-commodity-currencies-rally-the-globe.md) | +2.8% | -0.4% |

## Sources

- investinghaven.com: https://investinghaven.com/reading-markets/commodities-relief-rally-us-dollar-breakdown/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.