FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Wall Street Hits Record High as Softer Inflation Data Eases Fed Rate Hike Fears 
S&P 500 Hits Record High as Soft Inflation Data Eases Fed Rate Hike Fears 
Oil Prices Steady as Strait of Hormuz Traffic Slows Amid US-Iran Conflict 
Gold Prices Rise as Weak US Data and Hormuz Risks Boost Safe-Haven Demand 
S&P 500 Retreats From Record High as AI Stocks Slide, Retail Sales Disappoint 
US Dollar Slips as Weak Retail Sales Reduce Fed Rate Hike Bets 
Yen Edges Higher as Weak US Data Dampens Fed Rate Hike Expectations 
China Automakers Accelerate Global Expansion as Domestic Car Sales Slump 
UK Economy Posts Surprise June Growth as World Cup and Hot Weather Lift Activity 
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The Australian bonds jumped at the start of the trading week Monday as investors are hoping for a tad lower reading of the country’s consumer price-led inflation index (CPI) for the second-quarter of this year, scheduled to be released on July 26. Also, the Reserve Bank of Australia (RBA) Governor Philip Lowe’s speech, due on the same day will add further direction to the debt market.
The yield on the benchmark 10-year Treasury note, which moves inversely to its price, slumped nearly 3-1/2 basis points to 2.68 percent, the yield on 15-year note also plunged 3-1/2 basis points to 2.98 percent and the yield on short-term 2-year traded 1-1/2 basis points lower at 1.84 percent by 04:00 GMT.
Australia's core inflation rate is expected to have stayed below target for a sixth straight quarter through April-June, a reminder of just why interest rates in the country are at record lows and set to remain there for months to come, Nasdaq reported.
Analysts polled by Reuters forecast consumer prices (CPI) rose around 0.4 percent in the second quarter, from the first, which would nudge the annual pace up a tick to 2.2 percent. Analysts estimate underlying inflation rose around 0.5 percent in the quarter, which would keep the annual pace stuck around 1.75 percent.
"We expect the Q2 CPI to confirm that inflationary pressures have stabilised, although we continue to see only a very gradual lift from here. Indeed, on our forecasts, core inflation is set to remain below 2 percent until late 2018," the report said, citing, Jo Masters, Senior Economist, ANZ Research.
Meanwhile, the ASX 200 index fell 0.35 percent to 5,621.50 by 04:10GMT, while at 04:00GMT, the FxWirePro's Hourly AUD Strength Index remained neutral at -40.35 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
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