U.S. Stock Futures Edge Higher as Micron Earnings Boost AI Sentiment Ahead of CPI Data 
U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge 
Oil Prices Rebound as Trump Orders Blockade of Sanctioned Venezuelan Tankers 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
Dollar Holds Firm Ahead of Global Central Bank Decisions as Yen, Sterling and Euro React 
Asian Stocks Edge Higher as Tech Recovers, U.S. Economic Uncertainty Caps Gains 
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes 
The USD/CNY currency pair is expected to rally through the 6.40 level in the run up to the Federal Open Market Committee’s (FOMC) monetary policy meeting in June, according to a recent report from Scotiabank.
Further, the United States’ dollar index is expected to remain supported given a surprise fall in the Eurozone inflation and a moderation in the bloc’s economic growth.
Meanwhile, China will prevent the yuan from depreciating sharply as Chinese Vice Premier Liu He who is also President Xi Jinping’s top economic adviser will visit Washington next week for follow-up trade talks to avert a trade war. The yuan is anticipated to outperform the CFETS basket amid ongoing external uncertainty.
"In our opinion, one-way speculation on the yuan exchange rate has dissipated as onshore USD/CNY spot has been persistently trading around the central bank’s daily reference rate," the report added.
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