# Commodities: Weaker Dollar lacks growth catalyst – BNY

> BNY says a less hawkish Fed has weakened the dollar but has not produced a broad commodity rally, with institutional investors still selling metals and miners. BNY argues a sustained recovery requires stronger global demand, particularly from China.

- Date: 2026-08-12 · published 2026-08-12T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/17811-commodities-weaker-dollar-lacks-growth-catalyst-bny
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Without a demand catalyst from China, a weaker dollar alone is unlikely to lift feed commodity prices materially.

## Read by commodity

- DXY: bearish ▼
- SOY: neutral
- CORN: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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% |
| 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 | 2020-01-21 | [Weakening Dollar Good News For Commodities - Passport to Wall Street](https://feedsoft.ai/events/54999-weakening-dollar-good-news-for-commodities-passport-to-wall-street.md) | +0.6% | +1.3% |
| 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 | 2021-05-07 | [World stocks, commodities boom on U.S. weak jobs data](https://feedsoft.ai/events/47010-world-stocks-commodities-boom-on-u-s-weak-jobs-data.md) | -0.2% | -1.0% |
| CORN | 2017-05-09 | [Goldman Sachs: Why the commodities rally might be different this time](https://feedsoft.ai/events/70919-goldman-sachs-why-the-commodities-rally-might-be-different-this-time.md) | +0.6% | +1.9% |
| CORN | 2017-03-07 | [The correlation between USD and commodities is now gone: Citi](https://feedsoft.ai/events/71920-the-correlation-between-usd-and-commodities-is-now-gone-citi.md) | -2.2% | -0.2% |
| CORN | 2021-07-23 | [August Fed Tightening Announcement May Not Be Bearish For Commodities \| Investing.com Canada](https://feedsoft.ai/events/45974-august-fed-tightening-announcement-may-not-be-bearish-for-commodities-investing.md) | -1.1% | -2.6% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/commodities-weaker-dollar-lacks-growth-catalyst-bny-202608122318

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