FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
According to latest report from BRC, shop prices are in decline at record pace in November, posing considerable doubts over bank of England's (BOE) ability hike rates. After maintaining the rhetoric for quite some time, in last monetary policy meeting and inflation report, BOE has scaled back their expectations for both inflation and interest rates.
According to BRC, UK shop prices declined for record 31st month, down -2.1%, after dropping 1.8% in October. Downward pressure on prices are quite significant.
- Detailed report shows, clothing and footwear prices are down -6.3% y/y, DIY, gardening and hardware down -4.7%, books, stationary and home entertainment prices are down -4.6%, Electricals are down -4.3%, overall non-food items are down -3.3%.
Official reading of annual inflation rate was -0.1% in October. It seems, November won't be much different.
Yesterday, manufacturing PMI report came at 52.7, weaker than prior and halted Pound's advance against Dollar around 1.512.
Pound is currently trading at 1.506, awaiting the construction PMI report.
