Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
The German bunds remained tad higher during European session Thursday ahead of the country’s consumer price inflation (CPI) data for the month of June and unemployment data for the similar period, scheduled to be released later today and on June 28 by 07:55GMT respectively.
The German 10-year bond yields, which move inversely to its price, slipped nearly 1 basis point to 0.31 percent, the yield on 30-year note slid 1 basis point to 1.11 percent and the yield on short-term 3-year hovered around -0.58 percent by 09:40GMT.
Ahead of tomorrow’s preliminary June inflation figures for the euro area, the equivalent data from three large member states – Germany, Italy and Spain – will be released this morning. Last month we saw sharp increases in the headline EU-harmonised rates as services and energy prices picked up. And the flash June data should show that inflation remained elevated by recent standards.
While German inflation on the EU measure is expected to nudge down by 0.1ppt, that would still leave it at the lofty heights of 2.1 percent y/y, while the equivalent figures for Italy and Spain are expected to rise by 0.3ppt and 0.2ppt respectively to 1.3 percent y/y and 2.3 percent y/y respectively.
According to the GfK consumer sentiment survey released this morning, German consumers seem to have remained optimistic in the latest month. The headline confidence indicator moved sideways at 10.7, only slightly below levels seen at the start of the year, including the more-than-sixteen-year high of 11.0 reached in February.
German-U.S. yield spread: The yield spread has been widening since February of this year, from a low of 1.96 bps in February 5 to 2.50 bps as of June 28, reaching its highest on May 28 and then witnessing a decline again.
Meanwhile, the German DAX traded 0.74 percent lower at 12,255.62 by 09:50GMT, while at 09:00GMT, the FxWirePro's Hourly Euro Strength Index remained neutral at -30.47 (higher than +75 represents bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex
