FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Asian Stocks Slide as AI Rally Pauses, South Korean Chipmakers Lead Regional Decline 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
South Korea Stocks Tumble as AI-Fueled Rally Faces Profit-Taking Pressure 
Asian Stocks Slip as Oil Rebounds Amid Fed Rate Hike Fears 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
Bessent Says U.S. Must Strengthen Supply Chains and Economic Security 
Malaysia Central Bank Moves to Support Ringgit Amid Foreign Fund Outflows 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
Wall Street Slides as AI Stocks Tumble Following South Korea Tech Sell-Off 
Singapore Inflation Stays Muted in May as Core CPI Misses Forecasts Ahead of MAS Review 
President Trump may continue to tout his economic performance and calling the current state of the economy as the greatest ever. If the unemployment rate is the only measure, then this might truly be the greatest U.S. economy ever, but if we hover beyond just the unemployment rates, and look into labor force participation and growth forecasts, the story is different.
Last week’s non-farm payroll report showed that despite the ‘greatest economy ever’, the labour force participation rate is multi-decade low, while last night’s ‘GDPNow’ forecast projected U.S. economic growth at just 1.4 percent for the 2nd quarter of 2019, which s higher by just 0.1 percent compared to the previous forecast on 5th July.
If 1.4 percent turns out to be the final GDP reading, it would be the weakest growth in 10 quarters.
