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FxWirePro: Daily Commodity Tracker - 21st March, 2022 
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The New Zealand bonds ended Wednesday’s trading session on a mixed note amid global sell-off and as investors await the country’s March trade balance data, scheduled to be released on April 28.
At the time of closing, the yield on the benchmark 10-year bond, which moves inversely to its price, fell 1 basis point to 3.10 percent, the yield on 7-year note also slipped nearly 1 basis point to 2.78 percent while the yield on short-term 2-year note traded flat at 2.14 percent by 06:10GMT.
The New Zealand dollar was hit particularly hard by a distaste for commodity currencies after US president Donald Trump vowed protectionist moves towards Canadian lumber imports. New Zealand's small, open trading economy is particularly vulnerable to any threats to free trade.
In contrast, downward pressure on sovereign bonds continued on into Asia trading, extending a global sell-off as investor sentiment improved in the wake of Sunday’s French presidential vote.
Meanwhile, the New Zealand’s benchmark S&P/NZX 50 Index closed 1.55 percent higher at 7,335.13, while at 06:00GMT the FxWirePro's Hourly NZD Strength Index remained highly bearish at -133.36 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
