Commodities finished the week in a fairly convincing fashion, except for gold and copper, and look like having another reasonable week with the US dollar expected to be weak ahead of the European Central Bank meeting on Thursday that is seen as putting up rates for the first time in several years.

That meeting is considered highly likely to boost the ECB's main rate of 0.25% to 1.25% in a signal to the markets that the bank is worried about inflation.

But forecasts of two more rate rises later in the year from some US economists have been dismissed in Europe by local analysts who see the expected increase as a one-off movement.

The speculation which started after the March ECB meeting has certainly helped the euro and hurt the greenback.

The euro rose 0.5% last week to $US1.4231 on Friday.

The currency is up