# Commodities: Fundamentals Versus Fedspeak | Post

> Scotiabank's June review says hawkish Fed communication weighed on many commodity prices during the month, while crude benchmarks climbed on strengthening fundamentals. Industrial metals gained less in June than in May, with copper values falling.

- Date: 2021-06-29 · published 2021-06-29T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/46488-commodities-fundamentals-versus-fedspeak-post
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Firm crude fundamentals support higher energy and freight costs for feed producers, while the hawkish Fed tone adds dollar strength that limits broader commodity gains.

## Read by commodity

- DXY: bullish ▲
- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2025-09-01 | [The Commodities Feed: Jerome Powell provides a boost to most markets](https://feedsoft.ai/events/23246-the-commodities-feed-jerome-powell-provides-a-boost-to-most-markets.md) | -4.1% | +3.9% |
| BRENT | 2019-06-19 | [Commodities outlook: It's all action as Fed decides](https://feedsoft.ai/events/58511-commodities-outlook-it-s-all-action-as-fed-decides.md) | +4.6% | +3.8% |
| BRENT | 2021-08-24 | [The Commodities Feed: USD provides a boost to the complex \| snaps \| ING THINK](https://feedsoft.ai/events/12116-the-commodities-feed-usd-provides-a-boost-to-the-complex-snaps-ing-think.md) | +5.7% | +7.0% |
| BRENT | 2019-06-20 | [The Commodities Feed: Dovish Fed sees commodities rally \| snaps \| ING THINK](https://feedsoft.ai/events/58509-the-commodities-feed-dovish-fed-sees-commodities-rally-snaps-ing-think.md) | +7.0% | +2.1% |
| BRENT | 2021-05-27 | [Supercharged commodities may rescue ringgit hit by Covid surge » The Capital Post](https://feedsoft.ai/events/47364-supercharged-commodities-may-rescue-ringgit-hit-by-covid-surge-the-capital-post.md) | +3.1% | +9.9% |
| WTI | 2021-05-01 | [Why prices of commodities, from metals to food, are soaring](https://feedsoft.ai/events/11301-why-prices-of-commodities-from-metals-to-food-are-soaring.md) | +2.2% | +4.4% |
| WTI | 2025-09-01 | [The Commodities Feed: Jerome Powell provides a boost to most markets](https://feedsoft.ai/events/23246-the-commodities-feed-jerome-powell-provides-a-boost-to-most-markets.md) | -2.7% | -0.4% |
| WTI | 2019-06-19 | [Commodities outlook: It's all action as Fed decides](https://feedsoft.ai/events/58511-commodities-outlook-it-s-all-action-as-fed-decides.md) | +7.1% | +5.0% |

## Sources

- scotiabank.com: https://www.scotiabank.com/ca/en/about/economics/economics-publications/post.other-publications.commodities.scotiabank-commodity-price-index.june-29--2021.html

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