Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off 
The U.S. Treasuries remained flat as investors wait to watch the country’s manufacturing PMI, scheduled to be released on August 1 amid a silent session that witnessed data of little economic significance. Also, the ADP non-farm employment change data, due for release on August 2 will provide further direction to the debt market.
The yield on the benchmark 10-year Treasury, hovered around 2.29 percent, the super-long 30-year bond yields steady at 2.89 percent and the yield on the short-term 2-year note too traded flat at 1.35 percent by 11:40GMT.
The majority of global equity indices traded higher on Monday, shrugging off North Korea’s latest missile test late on Friday and the US response that followed on Sunday flying two supersonic bombers over the Korean Peninsula. In FX markets, the DXY dollar index fell 0.6 percent on Friday after slightly softer than expected GDP and labour data.
It will also be a busy week for top-tier releases in the US. Likely of most interest will be Friday’s employment report, which is expected to report an increase of around 180k in July, a touch weaker than in June but bang in line with the average for the year to date. But while the unemployment rate is forecast to have edged back down to its more than 16-year low of 4.3 percent reached in May, average labour earnings are set to have remained subdued at around 2-1/2 percent y/y.
Other noteworthy releases will be July’s manufacturing ISM and vehicle sales data and June’s monthly personal income and spending data, including the associated closely-watched deflators, and construction spending figures (tomorrow), the July ADP employment report (Wednesday), July’s non-manufacturing ISM and Challenger Job Cuts and June factory orders (Thursday) and June’s full trade report (Friday).
Meanwhile, the S&P 500 Futures traded 0.12 percent higher at 2,473.00 by 11:50GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at -53.17 (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
