# Dollar slips further as oil rallies, commodity currencies gain | Reuters

> Oil extended Monday's rally after the full FDA approval of the Pfizer-BioNTech vaccine and a large Mexican production outage. Brent settled up $2.30 at $71.05 a barrel, a gain of about 3.35%. The dollar slipped as commodity currencies gained.

- Date: 2021-08-24 · published 2021-08-24T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/12117-dollar-slips-further-as-oil-rallies-commodity-currencies-gain-reuters
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar and firmer crude prices lift commodity values, and the supply outage supports the oil rally.

## Read by commodity

- DXY: bearish ▼
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 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) | +2.4% | +0.2% |
| BRENT | 2021-05-11 | [Commodity currencies hold advantage as dollar waits for inflation and Fed \| Reuters](https://feedsoft.ai/events/47003-commodity-currencies-hold-advantage-as-dollar-waits-for-inflation-and-fed.md) | +1.6% | +4.9% |
| BRENT | 2020-09-16 | [Global shares slip, dollar gains as Fed sticks to agenda of near-zero rates \| Reuters](https://feedsoft.ai/events/51031-global-shares-slip-dollar-gains-as-fed-sticks-to-agenda-of-near-zero-rates.md) | +3.1% | +4.6% |
| BRENT | 2026-09-14 | [Dollar gains as Middle East conflict lifts oil, Fed hike looms By Reuters](https://feedsoft.ai/events/17642-dollar-gains-as-middle-east-conflict-lifts-oil-fed-hike-looms-by-reuters.md) | +0.3% | +5.0% |
| BRENT | 2022-02-18 | [Ringgit opens higher against US dollar on steady commodity prices](https://feedsoft.ai/events/42965-ringgit-opens-higher-against-us-dollar-on-steady-commodity-prices.md) | +6.4% | +16.9% |
| DXY | 2020-06-08 | [Dollar dips as commodity currencies gain on recovery hopes \| Financial Post](https://feedsoft.ai/events/52527-dollar-dips-as-commodity-currencies-gain-on-recovery-hopes-financial-post.md) | +0.7% | +0.4% |
| DXY | 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) | -1.0% | -2.9% |
| 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% |

## Sources

- reuters.com: https://www.reuters.com/world/middle-east/dollar-holds-near-five-day-low-kiwi-dollar-picks-up-after-hawkish-comments-2021-08-24/

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