Markets were calm today amid the lack of economic developments around the globe, where most stock indexes fluctuated in Europe and the United States, meanwhile, investors were still focused on the latest developments from Libya, where oil prices rose to the highest level since September 2008 above $108 a barrel.
The U.S. dollar was also little changed as shown by the U.S. Dollar index, nevertheless, we expect markets to go back to normal over the next few days, where important data will be released including interest rate decisions from Europe, and the FOMC Minutes as well.
Meanwhile, European stock indexes fluctuated within a limited range on Monday, while U.S. stock indexes were slightly higher in thin trading as well.
Moreover, gold prices rose today as investors invested in safety to hedge against rising oil prices, as gold traded above $1435 an ounce, while oil prices fluctuated after rising to the highest level since September 2008, where oil prices rose to as high as $108.80 earlier today before falling back to trade around the opening levels above $108 a barrel.
Originally posted here
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