# Commodity Prices Dip As Dollar Surges | OilPrice.com

> Commodity prices fell as the dollar index gained 1.5% over the week after the Fed moved its rate-hike forecast to 2023. Gold dropped about 4% to $1,788, its worst performance in 15 months, and Brent slipped below $70.40 before recovering to $72.60.

- Date: 2021-06-21 · published 2021-06-21T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/46491-commodity-prices-dip-as-dollar-surges-oilprice-com
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The stronger dollar on Fed rate signals is pressuring commodity prices across the board, which tends to lower dollar-priced feed ingredient costs but adds to currency pressure on importers.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-08-22 | [Commodity prices down on rising dollar demand](https://feedsoft.ai/events/39941-commodity-prices-down-on-rising-dollar-demand.md) | +0.0% | +1.6% |
| DXY | 2022-11-17 | [Commodities slump as dollar rebounds](https://feedsoft.ai/events/38596-commodities-slump-as-dollar-rebounds.md) | +0.4% | -0.6% |
| DXY | 2023-02-28 | [Dollar advances and heaps pressure on commodity currencies](https://feedsoft.ai/events/37239-dollar-advances-and-heaps-pressure-on-commodity-currencies.md) | -0.7% | -0.9% |
| DXY | 2021-08-12 | [Dollar rises after U.S. producer prices surge](https://feedsoft.ai/events/45757-dollar-rises-after-u-s-producer-prices-surge.md) | +0.4% | -0.2% |
| DXY | 2018-06-17 | [The Fed Is Driving Down Oil Prices \| OilPrice.com](https://feedsoft.ai/events/64443-the-fed-is-driving-down-oil-prices-oilprice-com.md) | -0.0% | -0.4% |
| BRENT | 2022-08-22 | [Commodity prices down on rising dollar demand](https://feedsoft.ai/events/39941-commodity-prices-down-on-rising-dollar-demand.md) | +4.6% | -6.4% |
| BRENT | 2018-06-17 | [The Fed Is Driving Down Oil Prices \| OilPrice.com](https://feedsoft.ai/events/64443-the-fed-is-driving-down-oil-prices-oilprice-com.md) | +2.6% | +2.7% |
| BRENT | 2025-01-26 | [Oil Drops As Trump Urges OPEC To Cut Prices](https://feedsoft.ai/events/26667-oil-drops-as-trump-urges-opec-to-cut-prices.md) | -2.1% | -5.0% |

## Sources

- oilprice.com: https://oilprice.com/Energy/Energy-General/Commodity-Prices-Dip-As-Dollar-Surges.html

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