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US Close: Powell ready for super sized hikes, Inversion focus as bonds selloff, Boeing 737 plane crashed in Southern China, Oil rises as calls for EU to ban Russian energy grow, Gold sideways as yields surge, Bitcoin holds $41k

US stocks had an uninspiring start to the trading week after Fed Chair Powell delivered another round of hawkish comments and as commodity prices surged on growing expectations the EU could consider an oil embargo on Russia this week. The harsh reality of faster rate rises is setting in for some traders and that could eventually lead to a taper tantrum which might happen alongside stagflation. Monetary policy is still accommodative for now, but that could quickly change if the Fed delivers a c

21-03-2022 16:34 GMT by Edward Moya

Oil edges up, gold under pressure

Oil prices spike higher once again Oil prices rose slightly in New York on Friday, with volatility modest by recent standards. Brent crude finished 0.85% higher at USD 107.80 a barrel, and WTI rose 1.70% to USD 105.35 a barrel. In Asia, however, prices have spiked higher once again, continuing a trend we saw all last week, where Asia bought oil no matter what the price action was in New York.

21-03-2022 06:30 GMT by Jeffrey Halley