FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Oil Prices Slip Amid Iran Ceasefire Extension, Hormuz Disruptions Keep Markets Tense 
U.S. Freezes Dollar Transfers to Iraq, Pressures Government Over Iran-Backed Militias 
Indian Cotton Yarn Exports Surge as China Demand Rises Amid Global Supply Disruptions 
Iran-Pakistan Diplomacy and Strait of Hormuz Tensions Push Oil Prices Above $100 
Foreign Investors Drive Surge in Japanese Stocks Amid AI Rally and Improved Risk Sentiment 
Oil Prices Rise as U.S.-Iran Tensions and Strait of Hormuz Disruptions Persist 
Asian Stocks Mixed as Tech Shares Decline While Japan’s Nikkei Hits Record High 
Best Gold Stocks to Buy Now: AABB, GOLD, GDX 
U.S. Stock Futures Edge Higher as Ceasefire Extension and Intel Earnings Lift Sentiment 
Dollar Weakens Amid Middle East Tensions and Anticipated Central Bank Decisions 
US data continue to show progress and the downward pressure on the unemployment rate is set to continue. Weak labour productivity and a low participation rate should ensure lower unemployment, even with a temporary slowdown in GDP growth.
The job growth is expected at 205,000 in August, which is in line with consensus. Overall, labour market indicators released lately have been solid, with jobless claims data trending sideways at a low level and the Conference Board's labour market differential at its most favourable level since January 2008.
"We estimate that the unemployment rate declined from 5.3% to 5.2% and is thereby approaching the Fed's NAIRU of 5%. We expect unemployment to undershoot the FOMC's projection for this year and next. This is a key reason we think the Fed will initiate its tightening cycle in December this year and proceed at a faster pace than the two hikes currently factored in by the market", says Dankske Bank.
