FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
U.S. Stock Futures Edge Higher as Tech Rout Deepens on AI Concerns and Earnings 
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Australian private sector credit recorded a solid increase in June, led by a rebound in the business sector after several months of weakness. The divergence between the investors and owner-occupier housing credit continued, with the former still slowing in response to APRA’s macro-prudential regulation.
Housing credit posted another 0.5 percent m/m rise in June, although at the margin (2 decimal places) this was the slowest monthly increase in a year. The slowdown in investor borrowing continued, and quarterly annualized growth now sits at 6.0 percent.
On the other hand, credit to owner-occupiers again posted faster monthly growth than the investor segment. The divergence between the segments kept total annual housing credit growth at 6.6 percent y/y, reflecting a stabilization at a marginally higher rate than at the start of the year.
Business credit recorded the strongest monthly rise since December 2016, up 0.9 percent m/m. This is a welcome result after a period of weakness, but we do not expect it to be sustained indefinitely. Business finance approvals have remained weak in recent months, and suggest that growth in the stock of business credit is likely to ease from here, ANZ Research reported.
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