FxWirePro: Daily Commodity Tracker - 21st March, 2022 
The Australian 10-year bond yields fell to record low of 1.839 percent on Friday as investors remain cautious ahead of the Reserve Bank of Australia’s (RBA) monetary policy meeting, which is scheduled to take place on August 2 at 04:30 GMT.
The yield on the benchmark 10-year Treasury note, which moves inversely to its price, fell 7 basis points to 1.839 percent and the yield on short-term 2-year note dipped 3 basis points to 1.504 percent by 05:00 GMT.
On Wednesday, Australia’s second quarter headline consumer price index (CPI) increased just 0.4 percent q/q, in line with expectations, as compared to negative 0.2 percent in the previous quarter. Also, core inflation rose 0.5 percent q/q, a bit higher than the consensus of 0.4 percent q/q, from 0.2% in the first quarter of 2016.
On an annual basis, it eased 1 percent y/y (it was the lowest annual rate since 1999), marginally lower than the economist consensus of 1.1 percent, from 1.3 percent during the same period a year ago. However, core-CPI remained flat at 1.7 percent y/y, higher than the expectations of 1.5 percent y/y.
In terms of economic data release, Australia's Q2 PPI rose 0.1 percent q/q, from prior down -0.2 percent q/q. On an annual basis, it increased 1.0 percent y/y, as compared to previous +1.2 percent y/y in the previous quarter.
Moreover, this result is still well below the RBA's target range of 2-3 percent and keeps an interest rate cut next month firmly on the cards.
Meanwhile, the benchmark Australia's S&P/ASX 200 index was also trading down 29 points at 5,494 by 05:00 GMT.
