# Commodity markets saw slight upward trend last week

> Commodity markets rose last week as US macroeconomic data supported expectations of Fed rate cuts in the first half of 2024. ISM manufacturing PMI came in at 47.8 and core PCE showed continued slowdown. Copper fell on Chilean supply growth while nickel rose on Indonesian mining concerns.

- Date: 2024-03-04 · published 2024-03-04T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/7865-commodity-markets-saw-slight-upward-trend-last-week
- 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

Expectations of lower rates weaken the dollar and support commodity prices broadly, though feed-specific impact is limited to energy and macro sentiment.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-03-23 | [A weaker USD should support commodity markets – ANZ — Octa](https://feedsoft.ai/events/36778-a-weaker-usd-should-support-commodity-markets-anz-octa.md) | -0.7% | -1.1% |
| DXY | 2018-02-01 | [Sunflower markets end last week mixed - High Plains Journal](https://feedsoft.ai/events/66614-sunflower-markets-end-last-week-mixed-high-plains-journal.md) | +0.9% | +1.7% |
| DXY | 2021-08-23 | [Rebound in commodity prices, weaker dollar lift Latam currencies - Markets - Business Recorder](https://feedsoft.ai/events/45760-rebound-in-commodity-prices-weaker-dollar-lift-latam-currencies-markets.md) | -1.0% | -0.5% |
| DXY | 2021-01-22 | [Dynamics have changed for commodity markets \| ABN AMRO](https://feedsoft.ai/events/49065-dynamics-have-changed-for-commodity-markets-abn-amro.md) | +0.7% | +0.5% |
| DXY | 2018-03-04 | [Currency markets send a warning on the US economy](https://feedsoft.ai/events/66191-currency-markets-send-a-warning-on-the-us-economy.md) | -0.6% | -0.8% |
| BRENT | 2024-06-29 | [Commodity markets to focus on US Jobs data, comments from Fed chair for clearer insights on policy outlook next week](https://feedsoft.ai/events/29640-commodity-markets-to-focus-on-us-jobs-data-comments-from-fed-chair-for-clearer.md) | +0.9% | -6.4% |
| BRENT | 2022-05-02 | [Selling pressure continues in commodity market](https://feedsoft.ai/events/9743-selling-pressure-continues-in-commodity-market.md) | +3.9% | +10.5% |
| 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% |

## Sources

- aa.com.tr: https://www.aa.com.tr/en/economy/commodity-markets-saw-slight-upward-trend-last-week/3154603

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