# Rebound in commodity prices, weaker dollar lift Latam currencies - Markets - Business Recorder

> Latin American commodity currencies rebounded on August 23 as crude oil rose over 4.5% and copper advanced. The Brazilian real and Colombian peso each firmed about 0.4%, while the dollar eased from nine-month highs after Dallas Fed President Kaplan said tapering could be reconsidered if COVID harmed the economy.

- Date: 2021-08-23 · published 2021-08-23T12:00:00.000Z
- Category: macro · region Latin America · magnitude low
- Page: https://feedsoft.ai/events/45760-rebound-in-commodity-prices-weaker-dollar-lift-latam-currencies-markets
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

Higher crude prices and a softer dollar support emerging-market currencies and raise demand for energy-linked commodities. For feed markets, a weaker dollar generally lifts dollar-denominated grain and oilseed prices, while stronger oil supports biofuel feedstock values.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WTI | 2021-08-23 | 1 | +4.6% | 3.2 | Same-day report confirms crude rose over 4.5% alongside a weaker dollar after Kaplan's taper comments, supporting the currency and risk-on mechanism. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2026-09-28 | [Asian currencies: Thai baht hits two-month low as oil prices surge - Markets - Business Recorder](https://feedsoft.ai/events/17732-asian-currencies-thai-baht-hits-two-month-low-as-oil-prices-surge-markets.md) | +9.1% | +18.9% |
| WTI | 2023-04-04 | [Malaysia, Indonesia currencies gain on OPEC+ target cut - Markets - Business Recorder](https://feedsoft.ai/events/36682-malaysia-indonesia-currencies-gain-on-opec-target-cut-markets-business-recorder.md) | +1.4% | -10.8% |
| WTI | 2020-08-26 | [C$ eases against broadly firmer US dollar - Markets - Business Recorder](https://feedsoft.ai/events/51857-c-eases-against-broadly-firmer-us-dollar-markets-business-recorder.md) | -1.1% | -7.6% |
| WTI | 2021-05-28 | [Canadian dollar falls as investors weigh US inflation surge - Markets - Business Recorder](https://feedsoft.ai/events/47328-canadian-dollar-falls-as-investors-weigh-us-inflation-surge-markets-business.md) | +4.1% | +10.9% |
| 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 | 2021-08-30 | [Most Asian currencies firm as waning taper fears pressure US dollar - Markets - Business Recorder](https://feedsoft.ai/events/45811-most-asian-currencies-firm-as-waning-taper-fears-pressure-us-dollar-markets.md) | -0.7% | +0.4% |
| DXY | 2021-08-30 | [Latam currencies firm, Colombian central bank meeting eyed - Markets - Business Recorder](https://feedsoft.ai/events/45823-latam-currencies-firm-colombian-central-bank-meeting-eyed-markets-business.md) | -0.7% | +0.4% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40115039

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