# Inflation Shows No Signs of Cooling. What Does That Mean For Commodity Prices? | FXEmpire

> Commentary on macro drivers for commodities highlights a global banking crisis, credit tightening, sticky inflation, and rising recession risk. Minutes from the May Fed meeting showed officials divided, with some backing further hikes while markets had priced in cuts. The Fed funds rate is now 5.25%.

- Date: 2023-05-29 · published 2023-05-29T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/35850-inflation-shows-no-signs-of-cooling-what-does-that-mean-for-commodity-prices
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Recession risk and uncertain policy weigh on energy and industrial demand, while persistent inflation supports real-asset buying, creating mixed signals for feed commodities.

## Read by commodity

- DXY: neutral
- WTI: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-09-30 | [Why are gas prices on the rise and what does this mean for Singapore? - CNA](https://feedsoft.ai/events/45222-why-are-gas-prices-on-the-rise-and-what-does-this-mean-for-singapore-cna.md) | +3.5% | +10.2% |
| WTI | 2023-04-13 | [BIS - The Changing Nexus Between Commodity Prices And The Dollar: Causes And Implications](https://feedsoft.ai/events/36298-bis-the-changing-nexus-between-commodity-prices-and-the-dollar-causes-and.md) | -4.9% | -12.9% |
| WTI | 2021-03-19 | [WCU: Commodity markets consolidate with one eye on inflation \| Saxo](https://feedsoft.ai/events/5670-wcu-commodity-markets-consolidate-with-one-eye-on-inflation-saxo.md) | -2.4% | +5.3% |
| WTI | 2024-09-19 | [How commodity prices perform following rate cuts: Analysts](https://feedsoft.ai/events/28218-how-commodity-prices-perform-following-rate-cuts-analysts.md) | -1.9% | -1.1% |
| WTI | 2020-05-25 | [Low oil prices a consolation prize for container, dry bulk shipping - Supply Chain Council of European Union \| Scceu.org](https://feedsoft.ai/events/53345-low-oil-prices-a-consolation-prize-for-container-dry-bulk-shipping-supply-chain.md) | +6.2% | +21.4% |
| DXY | 2025-06-04 | [Commodities: What the dollar-yield disconnect means for prices](https://feedsoft.ai/events/24112-commodities-what-the-dollar-yield-disconnect-means-for-prices.md) | -0.3% | -1.8% |
| DXY | 2021-10-18 | [How does dollar impact inflation? Watch commodities](https://feedsoft.ai/events/44437-how-does-dollar-impact-inflation-watch-commodities.md) | -0.4% | +0.4% |
| DXY | 2023-04-13 | [BIS - The Changing Nexus Between Commodity Prices And The Dollar: Causes And Implications](https://feedsoft.ai/events/36298-bis-the-changing-nexus-between-commodity-prices-and-the-dollar-causes-and.md) | +0.3% | -0.4% |

## Sources

- fxempire.com: https://www.fxempire.com/forecasts/article/inflation-shows-no-signs-of-cooling-what-does-that-mean-for-commodity-prices-1350288

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