Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
The sentiment reports from IG Markets, which is a UK-based company providing trading in financial derivatives such as contracts for difference and financial spread betting, strongly suggest that traders remain broadly undecided over next move in the USD against the pound.
IG markets’ retail positions data provide a glimpse to retail traders’ positions, which are largely used as a contrarian indicator since retail positioning moves in opposite direction to market movements.
Latest numbers suggest that as of today, 49 percent of the retail positions are on the long side, while 51 percent are short on British pound sterling against the USD, which points to the fact that traders remain broadly undecided over the next move, with the bias being marginally on the downside.
The upcoming Fed rate decision might provide the directional cue. With no press conference scheduled and with no hike expected, traders are likely to focus on the monetary policy statement to assess future rate hikes.
The British pound is currently trading at 1.307 against the USD. It has been correcting this week, after a sharp rise in the last.
