FxWirePro: Daily Commodity Tracker - 21st March, 2022 
The Australian 10-year government bond yields jumped as investors wait to read the country’s fourth-quarter gross domestic product (GDP), scheduled to be released on March 1. Also, upbeat data of companies’ gross operation profits on a quarterly basis, pushed market optimism higher to support bond yields.
The yield on the benchmark 10-year Treasury note, which moves inversely to its price, surged nearly 3 basis points to 2.74 percent, the yield on 15-year note rose nearly 2-1/2 basis points to 3.18 percent and the yield on short-term 2-year also jumped 2 basis points to 1.82 percent by 04:10 GMT.
The Reserve Bank of Australia (RBA) attributed the decline in Q3 GDP to bad weather, coal supply disruptions and slower than expected growth in consumption. It noted that the Australia’s economic slowdown in Q3 2016 was likely temporary and the economy would rebound in the fourth quarter.
Further, the bank forecasts growth to pick up to around 3 percent on an annual basis later in 2017, and to remain above estimates of potential growth over the rest of the forecast period. Further, the central bank predicts that rising resource exports in a more positive global environment will spur growth in Australia as the drag from falling mining investment wanes.
Meanwhile, the ASX 200 index traded 0.14 percent up at 5,709.50 at 04:30GMT, while at 04:00GMT, the FxWirePro's Hourly AUD Strength Index remained neutral at 24.83 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
