Dollar Hits Two-Month High as Fed Rate Hike Bets Rise 
Oil Prices Ease as Iran Tensions Clash With Diplomacy Hopes 
Trump, Xi Focus on Trade and AI at White House Summit 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
European Stocks Slip as Iran Tensions Offset Strong Eurozone Data 
Japan Private-Sector Growth Slows as Domestic Demand Weakens 
US Stock Futures Rise as Meta Muse Fuels AI Rally 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
U.S. 10-Year Treasury Yield Hits 2007 High as Fed Rate Hike Bets Rise 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Add as a preferred source on Google
The Russian economy is expected to stabilize after five consecutive quarters of deterioration, condition upon monthly GDP figures, being in line with estimates of -1.4 pct for Q1 on year, as released by the Ministry of Economic Development. Also, price movements in the global oil market would remain the key drivers for the largest oil exporting nation.
However, GDP data released today is unlikely to paint a positive picture amid a subdued market expectation of -2.0 pct for y/y GDP rates. Capital outflows are even lower than the current account surplus, inflation fell significantly over the last months and retail sales improved sharply in March, Commerzbank reported.
Besides, the end of the ailing recession would further signal that the Russian economy is back on track, with improvements in the real economy to extend further support.
"At the end a better economic performance would make rate cuts by the CBR not necessarily less likely but at least less extensive," Commerzbank said in a research note.
