The relationship between the US dollar and commodity futures: The change of the US dollar index has a negative impact on the commodity prices denominated in US dollars. The appreciation of the dollar will increase the cost of buying these goods and depress their prices. On the contrary, the depreciation of the dollar will reduce the purchase cost and stimulate the price increase. Especially for international commodities such as energy (crude oil) and metals (such as gold, copper and aluminum), global transactions are mainly settled in US dollars, and the change of US dollar exchange rate has a particularly obvious impact on their prices.

The relationship between the dollar and gold futures: gold is often regarded as a hedging tool and a reserve of monetary value. When economic uncertainty intensifies or inflation expectations rise, investors will buy gold to preserve their value, which will often push up the price of gold and drive the bullish sentiment of other precious metals and other commodity futures markets to some extent. On the other hand, there is a negative correlation between the dollar and the gold futures price. The international gold market is mainly priced in US dollars, and there is a high reverse linkage between the trend of US dollars and the price of gold.