Summary of financial markets: Notable movements as the U.S. inflation data is awaited.

The financial markets witnessed significant movements during today's trading on Monday, despite the absence of major data releases. This comes at a sensitive time as markets await the release of U.S. inflation data this week, which could significantly impact the monetary policy decisions of the U.S. Federal Reserve.

Here’s a look at the performance of the financial markets:

U.S. Dollar Benefits from Strengthened Expectations of Sustained High Interest Rates

The U.S. dollar saw a notable rise, benefiting from strengthened market expectations that the Federal Reserve will maintain high interest rates for an extended period. This increase coincided with the release of positive U.S. labor market data last week, pushing the dollar index up to 109.84 points, an increase of 0.20%.

Gold Prices Decline Amidst Rising Dollar

Gold prices were negatively impacted by the rise of the U.S. dollar, with the precious metal experiencing a sharp decline of about $30 per ounce. Gold reached a price of $2,659 per ounce, due to weakened investment demand for gold amid the tightening monetary policy from the Federal Reserve and the possibility of reaching a ceasefire agreement in Gaza soon.

Bitcoin Faces Pressure from Economic Outlook

Bitcoin faced a significant drop of 3.02%, reaching $92,059, influenced by the strength of the U.S. dollar. This decline came at a time when expectations regarding the continuation of the U.S. tightening monetary policy increased following positive labor market data from last week.

Crude Oil Prices Rise Due to Supply Concerns

Crude oil prices recorded a strong increase, driven by concerns regarding weak global crude oil supply. U.S. crude oil contracts traded up 2.17%, reaching $78.72 per barrel, following the imposition of sanctions on Russia by the United States and the United Kingdom, which are expected to significantly impact Russian oil exports to China and India.

Mixed Performance in U.S. Stock Markets

U.S. stock markets exhibited mixed performance during today's trading, with the Dow Jones Industrial Average rising by 0.63% to reach 42,201 points, while the S&P 500 index fell by 0.15% to 5,818 points. The Nasdaq index declined by 0.77%, reaching 19,013 points.

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