Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Jerome Powell Attends Supreme Court Hearing on Trump Effort to Fire Fed Governor, Calling It Historic 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Bank of Japan Likely to Delay Rate Hike Until July as Economists Eye 1% by September 
BOJ Rate Decision in Focus as Yen Weakness and Inflation Shape Market Outlook 
MAS Holds Monetary Policy Steady as Strong Growth Raises Inflation Risks 
Why Trump’s new pick for Fed chair hit gold and silver markets – for good reasons 
Bank of Canada Holds Interest Rate at 2.25% Amid Trade and Global Uncertainty 
China Holds Loan Prime Rates Steady in January as Market Expectations Align 
The USD has appreciated on a trade weighted basis in January so far; however, the appreciation in USD is mainly due to weakness in other currencies rather than specific factors that causes the USD to appreciate. The greenback appreciated on the back of declining commodity prices and rising risk aversion sentiments affecting EM currencies. The markets expect only one rate hike for this year as the global financial turmoil continues to prevail in the market.
Markets will be focused upon how FOMC evaluates the current market developments and what conclusions will be drawn for the March meet. This might have a limited effect on the dollar as markets expect a dovish stance from FOMC announcements. The FOMC's stance today on the possibility of a rate hike in March will provide guidance on interpreting the Fed's future developments
