Gold Prices Retreat From Two-Month High as Softer Inflation Eases Fed Rate Hike Bets 
Wall Street Hits Record High as Softer Inflation Data Eases Fed Rate Hike Fears 
Asian Currencies Steady as Markets Await U.S. Inflation Data 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Oil Prices Slide as OPEC, IEA Cut 2026 Demand Forecasts 
UK Economy Posts Surprise June Growth as World Cup and Hot Weather Lift Activity 
Trump Imposes New US Tariffs on Drone Imports Over National Security Concerns 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
US Dollar Holds Firm as Fed Outlook and Iran Tensions Keep Markets on Edge 
Gold Prices Slip From Two-Month High as Inflation and Fed Outlook Drive Markets 
Japan Government Backs Earlier BOJ Rate Hike as Inflation Pressures Build 
Add as a preferred source on Google
New Zealand bonds closed on the upper end of the curve as trade war fears continue to bother market participants. Also, the Reserve Bank of New Zealand (RBNZ) has remained on hold, maintaining its official cash rate at 1.75 percent, as was widely anticipated, but the bank's comments are being viewed as slightly more "dovish" than its previous stance.
At the time of closing, the yield on the benchmark 10-year note, which moves inversely to its price, slumped 4 basis points to 2.87 percent, the yield on the long-term 20-year note plunged 5-1/2 basis points to 3.19 percent and the yield on short-term 2-year closed nearly 2-1/2 basis points lower at 1.85 percent.
The US administration has decided to use the CFIUS legislation to expand investigations to include minority investments in “critical technology” or “critical infrastructure” and JVs where technology companies contribute intellectual property. However, the implementation of the new CFIUS law may take up to 18 months.
The Reserve Bank has kept its official cash rate at 1.75 percent, which was in line with market expectations, but the bank's comments are being viewed as slightly more "dovish" than its previous stance.
In a statement, Reserve Bank Governor Adrian Orr said the bank was well-positioned to manage change in either direction – up or down – as necessary. He said the outlook for the New Zealand economy, as detailed in the bank's May monetary policy statement, remained intact.
"Domestically, ongoing spending and investment, by both households and government, is expected to support growth. However, the recent weaker GDP outturn implies marginally more spare capacity in the economy than we anticipated," RBNZ Governor Adrian Orr said in the policy statement.
Meanwhile, the NZX 50 index closed 0.025 percent higher at 8,998.79, while at 06:00GMT, the FxWirePro's Hourly NZD Strength Index remained slightly bearish at -94.28 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
