# Dollar’s decline throws spotlight on battered commodity currencies

> The US dollar weakened as signals suggested US inflation would keep cooling, and commodity currencies such as the Australian and New Zealand dollars edged higher. Oil, copper and other raw materials also rose on the news.

- Date: 2023-07-26 · published 2023-07-26T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/35307-dollar-s-decline-throws-spotlight-on-battered-commodity-currencies
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar tends to support dollar-priced commodities, which can lift feed grain and oilseed prices for importers facing weaker local currencies.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2017-12-28 | [Dollar near 3-1/2 week lows; commodity, currencies stand tall - The HinduBusinessLine](https://feedsoft.ai/events/67395-dollar-near-3-1-2-week-lows-commodity-currencies-stand-tall-the.md) | -1.2% | -3.8% |
| 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 | 2021-08-24 | [Dollar slips further as oil rallies, commodity currencies gain \| Reuters](https://feedsoft.ai/events/12117-dollar-slips-further-as-oil-rallies-commodity-currencies-gain-reuters.md) | -0.6% | -0.1% |
| 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 | 2023-03-13 | [Thai baht climbs as Asian currencies gain on weak US dollar](https://feedsoft.ai/events/37133-thai-baht-climbs-as-asian-currencies-gain-on-weak-us-dollar.md) | +0.3% | -1.6% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/dollars-decline-throws-spotlight-battered-commodity-currencies-2023-07-26/

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