FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Eurozone Bond Yields Fall as Oil Slump Eases Inflation Fears Ahead of Central Bank Meetings 
Japan PM Sanae Takaichi Unveils Growth Plan as BOJ Independence Concerns Lift Bond Yields 
Japan Services Producer Prices Rise 3.2% in June, Supporting BOJ Rate Hike Expectations 
Chile Central Bank Holds Interest Rate at 4.5% as Inflation and Global Risks Persist 
BOJ Minutes Signal More Rate Hikes as Inflation Risks Grow 
Singapore Central Bank’s Exchange Rate Policy Explained: Why MAS Uses the S$NEER Instead of Interest Rates 
Data showed that Sweden's inflation for January came in better than expected, somewhat higher than the Riksbank's view. CPI m/m came in at -0.34% (Nordea -0.58; consensus -0.6; prior 0.1), while CPIF inflation, with or without energy, stood at 1.6% y/y, 0.1% point above forecasts.
With ECB likely to deliver aggressive policy easing in March there are renewed prospects for EUR/SEK downside. Much depends on how far the ECB will go. The Riksbank may have to take further measures to achieve a smooth and gradual strengthening of the SEK.
"Inflation for January came out somewhat higher than the Riksbank's view. This is of some relief for the Riksbank. However, there is still a risk that the bank will take more action going forward." said Nordea Bank in a research note.
