Asian Stocks Slide as AI Spending Fears and Global Central Bank Decisions Weigh on Markets 
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism 
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Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
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FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Yen Near Lows as Markets Await Bank of Japan Rate Decision, Euro Slips After ECB Signals Caution 
Australian government bonds slumped on Wednesday following higher-than-expected February retail sales data, pushing the interest rate sensitive 2-year Note yield to its highest since January 31.
The yield on Australia’s benchmark 10-year note, which moves inversely to its price, rose 2-1/2 basis point to 2.632 percent, the yield on the long-term 30-year note climbed 3-1/2 basis points to 3.221 percent and the yield on short-term 2-year also jumped 3-1/2 basis points to 2.077 percent by 02:30 GMT.
February retail sales jumped 0.6 percent m/m, way better than the market expectations of minimal grow of 0.3 percent m/m, up from revised 0.2 percent seen in January. Online retail turnover contributed 5.1 percent to total retail turnover in original terms in February 2018. In February 2017 online retail turnover contributed 3.6 percent to total retail.
In the United States, Treasuries pushed lower across the curve overnight during a relatively quiet session light on data of great significance. With respect to data, markets were largely limited to March vehicle sales that showed solid improvement on the month, contributing to a 17.40 million SAAR an improvement from the 16.94 million SAAR seen in February.
On Tuesday, The Reserve Bank of Australia (RBA) has remained on hold at its monetary policy meeting concluded early today, keeping the benchmark interest rate at 1.50 percent and judging the decision as being consistent with economic growth and CPI target over time. Board members also foresee inflation picking up gradually over time. The RBA's central forecast remains for a faster rate of growth this year, leading to a stronger lift in wage growth. The central bank acknowledged the slowdown in the housing markets of Sydney and Melbourne.
Meanwhile, the S&P/ASX 200 index traded 0.35 percent lower at 5,722.5 by 02:50 GMT, while at 02:00GMT, the FxWirePro's Hourly AUD Strength Index remained highly bullish at 123.01 (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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