FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
U.S. Dollar Slips Near Two-Month Low as Markets Await Key Jobs Data and Central Bank Decisions 
Asian Stocks Slide as AI Valuation Fears and BOJ Uncertainty Weigh on Markets 
Japan PMI Data Signals Manufacturing Stabilization as Services Continue to Drive Growth 
Oil Prices Slip in Asia as 2026 Supply Glut Fears and Russia-Ukraine Talks Weigh on Markets 
China’s Small Bank Consolidation Struggles as Profits Fall and Risks Persist 
ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
The German bunds slumped during European session Monday ahead of the country’s 10-year auction, scheduled to be held on February 27 by 10:40GMT. Also the country’s consumer price inflation (CPI) data for the month of February, coupled with manufacturing PMI and unemployment change for the similar month, due by end of this week will add further direction to the debt market.
In addition, eurozone’s February CPI data, due on Friday, will add further insight into the debt market.
The German 10-year bond yields, which move inversely to its price, jumped 2 basis points to 0.119 percent, the yield on 30-year note also climbed 2 basis points to 0.738 percent and the yield on short-term 2-year remained 1 basis point higher at -0.554 percent by 10:00GMT.
This week’s euro area data calendar brings further results of February sentiment surveys, including the Commission’s business and consumer confidence indices on Wednesday and the final manufacturing PMIs on Friday.
While the flash consumer confidence indicator in the past week posted a larger-than-expected improvement in February, business sentiment is expected to have edged further lower, to leave the Commission’s headline economic sentiment indicator similarly down slightly this month to 106.0, which would be a fresh 26-month low. The final euro area manufacturing PMI, meanwhile, is likely to align with this week’s preliminary reading showing the headline index dropping 1.3pts to a 5-1/2-year low of 49.2, Daiwa Capital Markets reported.
Likely of more interest on Friday will be the euro area’s flash estimate of February inflation – we expect the headline and core CPI rates to move sideways at 1.4 percent y/y and 1.1 percent y/y respectively. Ahead of this, the week will bring the equivalent national releases from Germany, France, Italy and Spain on Thursday. Other releases of note in the coming week include euro area bank lending figures and unemployment numbers, both for January, on Wednesday and Friday respectively, the report added.
Meanwhile, the German DAX remained 0.29 percent higher at 11,489.98 by 10:10GMT, while at 10:00GMT, the FxWirePro's Hourly Euro Strength Index remained neutral at -49.38 (higher than +75 represents bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex
