# Commodities following different paths on a common upward hill - Scotiabank — Octa

> Scotiabank analysts expect a broadly supportive backdrop for commodities from accelerating global growth and a weaker U.S. dollar. They forecast WTI would need further supply deficits to rise above $55/bbl, and that metals fundamentals will diverge.

- Date: 2017-10-18 · published 2017-10-18T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/68395-commodities-following-different-paths-on-a-common-upward-hill-scotiabank-octa
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A weaker dollar lifts dollar-priced commodities, while the forecast of gradual, rangebound energy recovery points to limited direct pressure on feed input costs. Chinese policy remains the key risk.

## Read by commodity

- DXY: bearish ▼
- WTI: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-04-12 | [The Commodities Feed: All eyes on US CPI \| articles \| ING THINK](https://feedsoft.ai/events/36345-the-commodities-feed-all-eyes-on-us-cpi-articles-ing-think.md) | -0.4% | -0.6% |
| DXY | 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) | -0.1% | +2.1% |
| DXY | 2025-08-25 | [Jerome Powell at Jackson Hole: A turning point for Gold and Commodities?](https://feedsoft.ai/events/23249-jerome-powell-at-jackson-hole-a-turning-point-for-gold-and-commodities.md) | -0.1% | -0.4% |
| DXY | 2024-06-28 | [Australian Dollar strengthens further following US PCE figures — Octa](https://feedsoft.ai/events/30055-australian-dollar-strengthens-further-following-us-pce-figures-octa.md) | -0.7% | -0.5% |
| DXY | 2020-07-29 | [USD/JPY seen lower at 102.00 in next two months – Scotiabank — Octa](https://feedsoft.ai/events/52348-usd-jpy-seen-lower-at-102-00-in-next-two-months-scotiabank-octa.md) | +0.4% | -0.4% |
| WTI | 2017-05-09 | [Goldman Sachs: Why the commodities rally might be different this time](https://feedsoft.ai/events/70919-goldman-sachs-why-the-commodities-rally-might-be-different-this-time.md) | +5.2% | +3.7% |
| 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 | 2023-06-29 | [The Commodities Feed: Hawkish Fed comments weigh on the complex \| articles \| ING THINK](https://feedsoft.ai/events/35414-the-commodities-feed-hawkish-fed-comments-weigh-on-the-complex-articles-ing.md) | +3.2% | +15.2% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/501176/

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