Australian Pension Funds Boost Currency Hedging as Aussie Dollar Strengthens 
Gold and Silver Prices Climb in Asian Trade as Markets Eye Key U.S. Economic Data 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
The USD/HKD currency spot is expected to hover around 7.85 in the run-up to the G-20 Osaka Summit, with rising upside risks to USD/HKD forwards. If risk sentiment improves, USD/HKD will slide in response as HKMA aggregate balance has shrunk markedly, according to the latest research report from Scotiabank.
The yuan’s weakness has weighed on the HKD despite a steady USD/HKD yield spread. Mainland Chinese investors have turned net buyers of Hong Kong shares again amid escalating US-China trade tensions.
The PBoC has stepped up efforts to stabilize market expectations of the yuan exchange rate, keeping USD/CNY fixing below 6.90.
However, the yuan would face increasing depreciation pressure should China fail to deescalate trade tensions with the US at the G-20 Osaka Summit set for 28-29 June, the report added.
