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FxWirePro: Daily Commodity Tracker - 21st March, 2022 
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The Eurozone periphery bonds gained Tuesday on rising demand for safe-haven assets and as investors wait to watch the benchmark German 5-year auction, scheduled to be held on July 5 for further direction in the debt market.
The benchmark German 10-year bond yields, which moves inversely to its price, fell nearly 1 basis point to 0.47 percent, the French 10-year bond yields slipped nearly 1-1/2 basis points to 0.82 percent, Irish 10-year bond yields slumped nearly 6 basis points to 0.87 percent, Italian collapsed 1-1/2 basis points to 2.12 percent, Netherlands 10-year bond yield down nearly 1-1/2 basis points to 0.65 percent, Portuguese equivalents plunged 2-1/2 basis points to 2.98 percent and the Spanish 10-year yields traded nearly 2 basis points lower at 1.50 percent by 08:40 GMT.
Speeches from the ECB’s Praet and Nowotny will be closely watched, given speculation that stimulus policy measures may be reduced in the not-too-distant future. Nowotny caused waves earlier this year by suggesting that interest rates could rise before the end of the ECB’s asset purchases, in contrast with the current official guidance.
Wednesday’s releases of the services and composite PMIs should also be very similar to the flash releases, which surprised on the downside, with the euro area services PMI falling from 56.3 to 54.7 to leave the composite index down at 55.7, the lowest level since the start of the year (although still elevated).
Lastly, euro area’s retail sales figures, which in line with Friday’s positive consumer spending data releases from Germany and France should signal an increase in the pace of growth. The focus on Friday will be on the latest IP figures from Germany, France and Spain, while French trade data are also due that day.
Meanwhile, the pan-European STOXX 600 index was down 0.19 percent to 382.69, German DAX fell 0.38 percent to 12,428.50, France’s CAC 40 slipped 0.34 percent to 5,178.00 and the PSI20 Index traded flat at 5,180.31 by 09:10 GMT, while at 09:00GMT, the FxWirePro's Hourly Euro Strength Index stood neutral at 0.51 (higher than +75 represents bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex
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