FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Once again, aligned with the reaction to positive data post Fed Chair Yellen's testimony, the market quickly reacted to the positive sides of the US payrolls and ignored any parts of the softer data.
US yields move sharply higher, alongside the USD, driving each other on. It looks like the USD's power is underestimated, a lot was likely priced in, and seems into a new trend dynamic.
As such pullbacks in the USD should remain muted before pushing to new highs against most of its trading partners.
Lloyds Bank notes as follows on Monday:
- We will be watching the Oil data releases closely this week too though. In regards to the above thoughts these are the key support levels we are watching in the USD, as a break would take some of the immediate bullish momentum out of the current moves.
- EURUSD - 1.0935/45 then 1.1025/45, GBPUSD - 1.5095/1.5125 then 1.5220/40, AUDUSD - .7740/55 then .7845, NZDUSD - .7430/50 then .7505/15, USDCAD - 1.2570/55 then 1.2500/1.2490
