FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Best Gold Stocks to Buy Now: AABB, GOLD, GDX 
The Canadian government bonds plunged on Thursday as Bank of Canada remained optimistic in its monetary policy statement about Gross Domestic Product (GDP) growth after leaving its overnight policy rate unchanged. Also, firm crude oil prices drove-out investors from safe-haven buying.
The yield on the benchmark 10-year bond which moves inversely to its price rose more than 3 basis points to 1.037 percent, the yield on the long-term 30-year bonds also jumped more than 3 basis points to 1.646 percent and the yield on short-term 2-year note bounced more than 2 basis points to 0.520 percent by 12:20 GMT.
The central bank announced no change in the overnight rate target of 0.50 percent on Wednesday, in line with market expectations. Moreover, the BOC in its statement mentioned that the risks to the profile for inflation are roughly balanced, although the implications of the Brexit vote are highly uncertain and difficult to forecast.
According to the statement, real GDP grew by 2.4 percent in the first quarter of 2016, against market expectations of -1.0 percent contractions, which weighed down by volatile trade flows, uneven consumer spending, and the Alberta wildfires. The statement also justified that economy is expected to grow further in the third quarter of 2016 due to stabilising crude oil prices in the international market.
In addition, the Canadian bonds have been closely following developments in oil markets because of their impact on inflation expectations, which are well below the Bank of Canada's target. Today, crude oil prices rebounded on weak US dollar and lower than expected US crude oil stockpiles. The International benchmark Brent futures rose 1.06 percent to $46.75 and West Texas Intermediate (WTI) jumped 1.03 percent to $45.21 by 09:20 GMT.
Lastly, Canadian stocks are set for another strong session Tuesday, as rebounding oil prices could drive gains in the energy sector. On Wednesday, S&P/TSX Composite Index closed 16.13 points higher at 14,493.80.
