A commodity currency is a name given to currencies of countries which depend heavily on the export of certain raw materials for income. These countries are typically developing countries, e.g. countries like Burundi, Tanzania, Papua New Guinea; but also include developed countries like Canada and Australia.
In the foreign exchange market, commodity currencies generally refer to the Australian dollar, Canadian dollar, New Zealand dollar, Norwegian krone, South African rand, Brazilian real, and theChilean peso.
check this link :- http://en.wikipedia.org/wiki/Commodity_currency
In forex parlance commodity currency refers to Candian Dollar and Australian Dollar. These are the developed countries that does not generally fit into the Majors.
usd - gold(inverse),silver if usd is up gold,silver is down
chf-copper(direct) chf is up copper price also will up