Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Bank of England Expected to Hold Interest Rates at 3.75% as Inflation Remains Elevated 
Oil Prices Slip as U.S.–Iran Talks Ease Supply Disruption Fears 
BOJ Rate Decision in Focus as Yen Weakness and Inflation Shape Market Outlook 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock 
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks 
This week is extremely risk heavy and the focus is on the OPEC meeting on Wednesday.
What to watch for over the coming days:
- Central banks:
The European Central Bank (ECB) is set to draw all the attention this week on Monday when the central bank President Mario Draghi will appear before European Parliament’s Economy Committee in Brussels and answer questions from lawmakers. It is scheduled to begin at 14:00 GMT. She will be asked about the ECB plans when the bond buying ends in March and plans to contain banking sector risks.
- OPEC meeting:
OPEC members are scheduled to meet in Vienna on November 30th and work on a deal, for which the structure was placed in September at an informal meeting in Algeria. However, doubts have emerged over the deal as the largest producer Saudi Arabia has reportedly taken a hard stance by offering to cut 4.5 percent of the production if Iran freezes production at the current level of 3.8 million barrels per day and non-OPEC countries like Russia joins the deal. In addition to that, all members would have to abide by third party production estimates by the secretariat.
- US Jobs:
The US will report, November payroll numbers on Friday. It is one the most vital data that the Fed would look into before the meeting in December, where the policymakers are expected to hike rates by 25 basis points.
