U.S. Stocks End Week Higher as Tech Rally Offsets Consumer Weakness 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
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The United Kingdom’s gilt prices trade range-bound during European session Wednesday as investors wait to watch the country’s gross domestic product (GDP) for the second quarter of this year, which is expected to rise from its previous reading, due to be released on August 10 by 08:30GMT. Also, the manufacturing production for the month of June, due on the same day, will add further direction
The yield on the benchmark 10-year gilts, hovered around 1.32 percent, the super-long 30-year bond yields remained tad lower at 1.75 percent and the yield on the short-term 2-year traded 2 basis points higher at 0.74 percent by 09:00GMT.
The end of the this week brings the latest GDP figures. Alongside the new monthly GDP data for June, which are expected to show a 0.2 percent m/m rise, the ONS will release the first estimate for Q2. Following a slowdown at the start of the year, GDP is set to have risen by 0.4 percent q/q in Q2, according to the latest research report from Daiwa Capital Markets.
With a very sharp pick-up in consumer spending on the high street of 2.1 percent q/q that quarter, the expenditure breakdown will probably show that overall consumer spending growth rose from 0.2 percent q/q in Q1. Investment growth should recover after a 1.3 percent q/q slump in Q1, but net exports might remain a drag on growth.
Meanwhile, the FTSE 100 rose 0.37 percent to 7,746.34 by 09:05GMT, while at 09:00GMT, the FxWirePro's Hourly Pound Strength Index remained highly bearish at -132.05 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
