Oil Prices Steady in Asia but Headed for Weekly Loss on Supply Glut Concerns 
BOJ Poised for Historic Rate Hike as Japan Signals Shift Toward Monetary Normalization 
EU Delays Mercosur Free Trade Agreement Signing Amid Ukraine War Funding Talks 
Asian Stocks Slide as AI Spending Fears and Global Central Bank Decisions Weigh on Markets 
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
Austan Goolsbee Signals Potential for More Fed Rate Cuts as Inflation Shows Improvement 
Yen Near Lows as Markets Await Bank of Japan Rate Decision, Euro Slips After ECB Signals Caution 
South Korea Warns Weak Won Could Push Inflation Higher in 2025 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
New Zealand government bonds rallied at the time of closing Thursday on continuing signal from a subdued dairy supply outlook despite an improvement in the global dairy prices at the country’s latest GlobalDairyTrade Price auction held lately. Elsewise, trading remained sideways as investors refrained from engaging in any major trading activity amid a muted session.
At the time of closing, the yield on the benchmark 10-year Treasury note, which moves inversely to its price, hovered around 2.80 percent, the yield on 20-year slumped 2-1/2 basis points to 3.28 percent and the yield on short-term 2-year ended 2 basis points lower at 1.94 percent.
The Global Dairy Trade Price Index (GDT) gained 2.2 percent at the first auction of the year, after the world’s biggest dairy processor, Fonterra, dropped its forecast for NZ milk collection last week for the second time in as many months. The average selling price was of NZD3,124 per tonne, with prices for whole milk powder - the most widely traded product - posting the strongest gain, 4.2 percent.
Auckland-based Fonterra revised its forecast for its New Zealand milk collection for the current 2017-18 season to 1480 million kilograms of milk solids, down 3 percent from the 1525 million kgMS it collected in the 2016-17 season, it said.
Meanwhile, the NZX 50 index closed 0.22 percent higher at 8,443.50, while at 05:00GMT, the FxWirePro's Hourly NZD Strength Index remained slightly bullish at 75.78 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest
