FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Gold Price Hits Two-Month High as Investors Await US Inflation Data 
Singapore Raises 2026 GDP Growth Forecast to 4.5%-5.5% as AI Boom Fuels Economy 
Goldman Sachs Sees US Stock Buybacks Outpacing Equity Issuance as AI Funding Rises 
UK Retail Sales Rise as World Cup and Heatwave Boost Food, Pubs and Clothing 
Gold Prices Hold Near Seven-Week High as Markets Await U.S. Inflation Data 
Oil Prices Rise as Hormuz Reopening Remains Uncertain 
South Korean Won Leads Asian FX Losses as Dollar Rises 
Wall Street Slips as Oil Prices Surge 5% on Iran-Hormuz Uncertainty 
Asian Currencies Steady Ahead of US CPI as Oil Prices Rise 
The United Kingdom’s gilts traded tad lower during European session Friday after the country’s consumer price inflation (CPI) data for the month of August beat market estimates, higher than the reading in July as well. Investors will now remain focussed on the country’s August retail sales data and 10-year auction, both scheduled for September 20 by 08:30GMT and 09:45GMT respectively for further direction into the debt market.
The yield on the benchmark 10-year gilts, rose nearly 1/2 basis point to 1.573 percent, the super-long 30-year bond yields also remained tad 1/2 basis point higher at 1.916 percent and the yield on the short-term 2-year traded flat at 0.828 percent by 09:50GMT.
Britain’s consumer prices in August rose by 2.7 percent compared with a year earlier, the data released by the Office for National Statistics showed Wednesday. That was above expectations for an increase of 2.4 percent and compared to the 2.5 percent rise seen in July.
Core CPI, which excludes food, energy, alcohol, and tobacco costs rose at a seasonally adjusted rate of 2.1 percent last month, compared to forecasts for 1.8 percent and the 1.9 percent pace seen in July.
Meanwhile, the FTSE 100 rose 0.05 percent to 7,303.38 by 09:55GMT, while at 09:00GMT, the FxWirePro's Hourly Pound Strength Index remained highly bullish at 137.22 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
