Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals 
Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
The U.S. Treasuries remained flat Tuesday ahead of a host of speeches by FOMC members Dudley and Brainard scheduled for later in the day. Wall Street rallied yesterday as newswires reported attempts by House Speaker Paul Ryan and White House economic advisor Gary Cohn to convince President Trump to ditch his proposed tariffs on imports of steel and aluminum.
The yield on the benchmark 10-year Treasuries rose 1/2 basis point to 2.88 percent, the super-long 30-year bond yields remained flat at 3.15 percent and the yield on the short-term 2-year too steadied at 2.23 percent by 11:00GMT.
Taking their cue from US equities’ healthy gains overnight, European bourses were firmer in early trade on Tuesday supported by somewhat receding trade war fears. A number of leading Republicans warned that US President Donald Trump’s proposed measure for the imposition of tariffs on imported steel and aluminum could eventually trigger an escalating trade war.
Increased risk appetite somewhat dented the safe haven appeal of core government bonds while in FX markets, the USD was little changed on the day. Looking at today’s data calendar, US factory orders for January is the only release of note.
The remainder of this week’s diary seems very unlikely to be market-moving, but is highlighted by the February non-manufacturing ISM (today), January factory orders (tomorrow), and the final January trade balance and revised productivity and unit cost data for Q4 (Wednesday).
Lastly, the latest Fed Beige Book will also be released on Wednesday and there is a smattering of Fedspeak through the week before the pre-FOMC meeting blackout period begins. In the bond market, there are once again so far only bill auctions scheduled for the coming week
Meanwhile, the S&P 500 Futures rose 0.21 percent to 2,724.50 by 11:05GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained slightly bearish at -82.15 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
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