FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 
India–U.S. Interim Trade Pact Cuts Auto Tariffs but Leaves Tesla Out 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
Japan Economy Poised for Q4 2025 Growth as Investment and Consumption Hold Firm 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
Australian government bonds remained mixed during Asian trading session Tuesday after the Reserve Bank of Australia (RBA) maintained a steady rate in its monetary policy meeting, held early today, while maintaining a positive outlook on the country’s labour market.
The yield on Australia’s benchmark 10-year note, which moves inversely to its price, surged 1 basis point to 1.824 percent, the yield on the long-term 30-year bond traded tad higher at 2.441 percent while the yield on short-term 2-year traded 1 basis point lower at 1.467 percent by 03:45GMT.
According to the RBA’s monetary policy statement, the Australian labour market remains strong. There has been a significant increase in employment and the unemployment rate is at 4.9 per cent. The vacancy rate remains high and there are reports of skills shortages in some areas.
The strength in labour market has led to some pick-up in wages growth, which is a welcome development. Continued improvement in the labour market is expected to see some further lift in wages growth over time, although this is still expected to be a gradual process.
The outlook for the global economy remains reasonable, although growth has slowed and downside risks have increased. Growth in international trade has declined and investment intentions have softened in a number of countries.
Lastly, inflation remains low and stable. Underlying inflation is expected to pick up gradually over the next couple of years, although this has been taking a little longer than earlier expected.
The central scenario is for underlying inflation to be 2 percent this year and 2¼ per cent in 2020. In the near term, headline inflation is expected to decline because of lower petrol prices earlier in the year, while underlying inflation is expected to remain broadly stable, the statement further noted.
Meanwhile, the S&P/ASX 200 index traded flat at 6,238.50 by 03:50GMT, while at 03:00GMT, the FxWirePro's Hourly AUD Strength Index remained neutral at 70.79 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
