Best Gold Stocks to Buy Now: AABB, GOLD, GDX 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Gold Falls Below $4,000 as Strong Dollar and Fed Rate Hike Expectations Weigh on Prices 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
U.S. Dollar Reaches One-Year High as Tech Sell-Off and Fed Rate Hike Expectations Support Demand 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
The yen is receiving safe further safe-haven bids in the Asian hours of Friday’s sliding as Chinese trade numbers for February sour mood, especially after yesterday’s selloff in the U.S. benchmark stock index S&P500.
- According to today’s release, the Chinese trade balance in February was just $4.12 billion, as exports slumped 20.7 percent from a year ago. It is the worst number in a year. However, it is important to note that trade balance usually declines close to the end of the financial year as adjustments set in. So, traders should keep an eye out for next month’s data.
- The selloff in the S&P500 is also contributing to the bids in yen as selloff continues in the Asian hours. After yesterday’s 0.8 percent sell-off in the S&P500, the future is down another 0.45 percent today.
Despite broad-based strength in the U.S. dollar, the yen has moved higher against the USD,
- Yen was up 0.11 percent against the USD, and today it is up by another 0.57 percent so far, despite USD holding up well against the pound and the euro.
- The yen is currently trading at 111 per USD. Further firming in the near term, can’t be ruled out.
- However, the longer-term trend for USD/JPY remains up.
