Precious Metals Rally as Silver and Platinum Outperform on Rate Cut Bets 
EU Delays Mercosur Free Trade Agreement Signing Amid Ukraine War Funding Talks 
Canada Signals Delay in US Tariff Deal as Talks Shift to USMCA Review 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
EU Approves €90 Billion Ukraine Aid as Frozen Russian Asset Plan Stalls 
U.S. Dollar Slips as Yen Finds Support on Intervention Signals and Geopolitical Risks Rise 
Why U.S. Coffee Prices Are Staying High Despite Trump’s Tariff Rollbacks 
BOJ Poised for Historic Rate Hike as Japan Signals Shift Toward Monetary Normalization 
Platinum Price Surges Past $2,000 as Demand and Supply Dynamics Tighten 
In the third quarter, a growing concern over global liquidity conditions is likely to weigh on EM Asian currencies that have rallied substantially this year amid large portfolio inflows. The CNY (and the SGD) are expected to outperform other regional currencies should external financial conditions tighten. However, a strong print of the United States non-farm payroll data, later today would undermine regional currencies, Scotiabank reported.
USD/CNH was offered aggressively from 09:30 am to 10:00 am HKT on Wednesday, largely due to an elevated fixing-spot gap. The PBoC said in a statement dated Tuesday after its Q2 monetary policy committee meeting that it will keep the yuan exchange rate basically stable at an equilibrium level and closely monitor international capital flows.
However, the market remains in doubt about the yuan’s strength as both USD/CNY and USD/CNH rebounded on Wednesday afternoon. US President Donald Trump on Wednesday tweeted that "Trade between China and North Korea grew almost 40 percent in the first quarter.
"In the coming sessions, we could see another dollar selloff as USD/CNY fixing-spot gap remains wide," the report said.
