BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
The Australian bonds slumped during Asian session of the last trading day of the week Friday after the country’s retail sales for the month of November topped market expectations, rising from the prior reading in October as well amid an otherwise muted trading session that witnessed data of little economic significance.
The yield on Australia’s benchmark 10-year note, which moves inversely to its price, hovered around 1.242 percent, the yield on the long-term 30-year bond slipped 1/2 basis point to 1.858 percent and the yield on short-term 2-year gained nearly 1 basis point to 0.808 percent by 02:30GMT.
News that Chinese Vice Premier Liu He would travel to Washington next week to sign the Phase one trade deal sent risk sentiments higher. US President Trump also said Phase two talks will start right away, OCBC Treasury Research reported.
The S&P500 closed at a record high while the WTI crude oil price ended below $60 per barrel. Further, US initial jobless claims also dipped 9k to 224k, suggesting the US labour market remains healthy despite cooling in recent months and Fed’s Clarida opined that the 2019 rate cuts were “well timed” but monetary policy is now “in a good place” for 2020, the report added.
Meanwhile, the S&P/ASX 200 index traded tad 0.52 percent higher at 6,866.50 by 02:35GMT.
