FxWirePro: Daily Commodity Tracker - 21st March, 2022 
The UK gilts traded range bound Friday as investors moved away from safe-haven buying amid gains in riskier assets including crude oil and equities. Also, investors are closely eyeing the release of consumer inflation and retail sales data scheduled for release next week
The yield on the benchmark 10-year gilts, which moves inversely to its price, rose nearly 2-1/2 basis points to 1.32 percent, the super-long 30-year bond yield also climbed 2-1/2 basis points to 1.98 percent and the yield on short-term 2-year moved 1/2 basis point higher to 0.16 percent by 09:20GMT.
The British gilts have been closely following developments in oil markets because of their impact on inflation expectations, which are well below the Bank of England's target. The International benchmark Brent futures fell 0.11 percent to USD55.95 and West Texas Intermediate (WTI) pushed lower 0.08 percent to USD52.97 by 09:20 GMT.
Also, the UK gilts have been closely following movements in the U.S. debt market. The U.S. benchmark 10-year bond yields jumped 8 basis points to 2.38 percent, from yesterday’s low of 2.30 percent.
Moreover, Donald Trump in his public appearance said that he is handling over his personal businesses to his son to avoid future discrepancies. Regarding a relationship with Russia, he claimed that association with Vladimir Putin is an asset, rather than a liability.
Lastly, according to the latest Citi/YouGov survey, UK’s inflation expectations for the short term are broadly steady at 2.4 percent whilst expectations for the longer term have risen to 3.0 percent up from 2.8 percent in November.
Meanwhile, the FTSE 100 continued its record high for the 14th consecutive day, rising 0.33 percent to 7,315.96 by 09:30 GMT, while at 9:00GMT, the FxWirePro's Hourly Pound Strength Index remained neutral at -9.04 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
