FxWirePro: Daily Commodity Tracker - 21st March, 2022 
The German government slumped Thursday after chancellor Angela Merkel said that Europe needs policies based on free trade and that Germany only does well if Europe doing well. Also, investors remain keen to watch the European Central Bank’s (ECB) monetary policy decision scheduled to be held later in the day.
The yield on the benchmark 10-year bond, which moves inversely to its price, rose 2-1/2 basis points to 0.39 percent, the long-term 30-year bond yields jumped 3 basis points to 1.18 percent and the yield on short-term 3-year bond traded 1-1/2 basis points higher at -0.83 percent by 08:50 GMT.
The ECB is expected to maintain its dovish stance at the meeting this week although inflation has reached the 2 percent target. The ECB has said it will not change its monetary policy based on such a rise in inflation and in the introductory statement from the latest ECB meeting it was communicated that 'the Governing Council will continue to look through changes in HICP inflation if judged to be transient and to have no implication for the medium-term outlook for price stability'.
The German bunds have been closely following developments in oil markets because of their impact on inflation expectations. The International benchmark Brent futures moved higher by 1.09 percent to USD53.70 and West Texas Intermediate (WTI) rose 0.89 percent to USD50.73 by 08:00 GMT.
Lastly, investors will be closely eyeing the trade balance, due on March 10 for detailed direction in the debt market.
Meanwhile, the German stock index DAX Index traded 0.04 percent lower at 11,959.50 by 09:00 GMT, while at 09:10GMT, the FxWirePro's Hourly Euro Strength Index remained neutral at 59.48 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
