Usually commodities, specially oil, tends to move in opposite direction of the dollar. Is it possible that oil and dollar move up in unison? For, say, a year or more?
highly unlikely. A depression like situation would kill off commodities regardless of the dollar, but the dollar would prolly be strong vis-a-vis other currencies in such a situation. Other countries would probably get hammered worse. If the US was the only one in the shit house however, you could see this happen I bet. The foreign nations would also have to have slow growth stifling commodity demand. I don't see another situation in which they both move that way.
Commodities boom and bust whenever they want. Here is a % relative chart .... it is big .... but look at '85 - '88 when the dollar was in a steady downward trend. P.S. do not show this chart to goldbugs, they get mad. <a href="http://img82.imageshack.us/my.php?image=61731715vd5.jpg" target="_blank"><img src="http://img82.imageshack.us/img82/4874/61731715vd5.th.jpg" border="0" /></a>