FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Social Security Overhaul Passes in Congress Leaving Experts Divided Over Program’s Financial Future 
Goldman Sachs Warns of Government Shutdown Risk as House Blocks Spending Package, Deadline Nears 
Toyota Targets BYD and Chinese Rivals with Shanghai EV Factory for Lexus Production by 2027 
Top AI Chip Stock Positioned for Explosive 2025 Growth, Jefferies Signals Major Upside 
Honda and Nissan Ready to Kick Off Integration Talks to Counter Tesla and Chinese Auto Giants 
US Grants $6.75 Billion in Chips Awards to Samsung, Texas Instruments, and Amkor for Manufacturing Boom 
Apple Nears $4 Trillion Valuation as AI Momentum Fuels Investor Optimism 
BYD Factory in Brazil Faces Investigation as Chinese Workers Found in 'Slavery-like Conditions' 
Trump's 'Panama Canal Takeover' Threat Sparks International Tensions and Legal Debates 
Eli Lilly’s Zepbound Becomes FDA’s First Weight-Loss Drug Approved for Sleep Apnea Treatment 
S&P 500 Climbs Ahead of Christmas Break with Tech Gains and $10B Equity Inflows 
The Eurozone periphery bonds slumped Monday as investors remain cautious ahead of the European Central Bank’s (ECB) monetary policy decision, scheduled to be held on June 8. Also, Germany, the benchmark for Eurozone debt markets, remain closed today, on account of Whit Monday, which further lent dullness in investors trading.
The French 10-year bond yields, wich moves inversely to its price, jumped 2 basis points to 0.72 percent, Irish 10-year bonds yield rose 1 basis point to 0.77 percent, Italian equivalent also climbed nearly 1 basis point to 2.26 percent, Netherlands 10-year bonds yield ticked 2 basis points higher to 0.50 percent, Portuguese equivalents up nearly 1-1/2 basis points to 3.04 percent while the Spanish 10-year yields traded nearly flat at 1.56 percent by 09:30 GMT.
Of most interest in the euro area will be the ECB’s announcements, which will contain a mixture of dovish and slightly more hawkish messages. Given that the recent data flow remains consistent with a strengthening recovery, the ECB’s GDP growth forecast for 2017 might well be nudged higher from the 1.8 percent estimate published in March.
"But we would also expect the ECB to revise down slightly its forecasts of headline CPI from 1.7 percent y/y and 1.6 percent y/y in 2017 and 2018 respectively, and core CPI from 1.1 percent y/y and 1.5 percent y/y," Daiwa Capital Markets commented in its latest research report.
The rate of eurozone’s economic growth continued to run at the quickest pace in six years during May. This was confirmed by the final IHS Markit Eurozone PMI Composite Output Index posting 56.8, unchanged from the earlier flash estimate and April’s final reading.
Meanwhile, the pan-European STOXX 600 index was down 0.21 percent at 325.20, German DAX jumped 1.25 percent to 12,822.94, the PSI20 Index slumped 1.11 percent to 5,257.82 and France’s CAC40 slipped 0.40 percent to 5,305.50 by 08:30 GMT, while at 08:00 GMT, the FxWirePro's Hourly Euro Strength Index stood neutral at 64.80 (higher than +75 represents bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex
