US Dollar Index (DXY)

Latest: 121.38

Historical DXY

DXY and Oil: The Inverse Correlation

Oil is priced globally in US dollars. When the dollar strengthens, oil becomes more expensive for non-USD buyers, reducing demand and pushing prices down. This inverse correlation is one of the most reliable relationships in commodity markets.

  • Strong dollar (DXY up): Oil prices tend to fall as purchasing power decreases for non-USD buyers
  • Weak dollar (DXY down): Oil prices tend to rise as it becomes cheaper for international buyers
  • Correlation: Historically -0.5 to -0.7 between DXY and Brent crude on a monthly basis

Access This Data via API

One API call, both commodity and macro data. No extra integration.

GETGET /v1/prices/latest?code=BRENT_CRUDE_USD,WTI_USD,DXY_USD
curl -X GET "https://api.oilpriceapi.comGET /v1/prices/latest?code=BRENT_CRUDE_USD,WTI_USD,DXY_USD"

Sample Response

{
  "prices": [
    {
      "code": "BRENT_CRUDE_USD",
      "value": 74.5,
      "currency": "USD",
      "source": "investing_com"
    },
    {
      "code": "DXY_USD",
      "value": 121.38,
      "currency": "INDEX",
      "source": "fred_api"
    }
  ]
}
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