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European benchmarks ended today's trading higher; the DAX gained 0.84%, the CAC 40 rose 0.8%, and the WIG20 climbed 2.64% higher.
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The only interesting reading today was the Sentix index (reflecting investor sentiment), which came in at -25.2 against the last reading of -26.4 and the consensus of -24.6. The mood on the Old Continent was supported today by good foreign trade balance data in China.
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U.S. indices negated gains from the beginning of the session, with the NASDAQ in particular under bearish pressure.
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Palantir (PLTR.US) and Nvidia (NVDA.US) released weak financial results and lowered full-year forecasts.
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Of particular interest today were so-called 'Meme stocks', i.e. shares of companies such as GameStop (GME.US), AMC (AMC.US) and Bed Bath Beyond (BBBY.US), which gained as much as 40% today. The reason for such strong rallies was the renewed action of Wall Street Bets investors, who sought to make so-called short squeezes on the shares of these companies.
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The currencies of the antipodes can count Monday's session as a success, with AUD strengthening more than 1% against the USD and NZD gaining 0.7% against the U.S. dollar
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In the commodities market we are seeing high volatility. Precious metals post sizable gains, with silver breaking out above its 50-day moving average and negating the extent of the biggest correction in the current trend. In the energy commodities market, we can observe an upward pressure for WTI and Brent crude oil prices while US gas prices are falling.
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Most cryptocurrencies started the week with gains. Bitcoin adds less than 3%, while Ethereum gains 3.1% and approaches the $1,770 level.
Bitcoin's trading started the week with upward pressure. Looking technically at the H4 chart, if the current momentum continues, a renewed attack on key resistance at the $25,000 level is not out of the question. This zone stems from the May 12 bottom and the upper limit of the broad 1:1 system: If, on the other hand, declines occur, the $22.400 level should be considered as the first support. Source: xStation5
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