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Oil gets support, gold breaks $2000

Oil seeing some support The sell-off in oil markets appears to be running into support following the near-20% decline over the last couple of weeks. Traders have been forced to reassess the outlook for the global economy in light of recent issues in the banking sector and it would appear they're no longer so optimistic. That may of course change as things settle down, assuming they do in the short term, but for now, they're taking a far more cautious stance.

20-03-2023 13:00 GMT by Craig Erlam

US Open: Stocks waver after UBS takeover deal/coordinated CB action/banking worries, Yen thrives on risk aversion flows, Bullish oil bets abandoned, Gold $2k, Bitcoin closer to $40k than November low

Looks like it will be another long week on Wall Street. It was a busy weekend after a Credit Suisse bailout and a coordinated effort by the Fed and other central banks to boost dollar liquidity. Despite a couple major weekend attempts to contain the risks hitting the banking system, US stocks are wavering as risk aversion won’t be going away until markets are confident that the Fed is done with their rate hiking campaign. The banking system still doesn’t have any confidence as Wall Street tri

20-03-2023 09:47 GMT by Edward Moya