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The new week begins mixed on Wall Street. On one hand, stock indices are gaining momentum driven by technology companies and the Nvidia GTC conference. On the other hand, we see a partial shift of capital to safer assets like the dollar and bonds.
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US500 is quoted 0.80% higher at 5220 points, US100 gains about 1.30% to 18300 points. The dollar index (USDIDX) is up 0.20%. USD is one of the stronger currencies today alongside the Canadian dollar and Japanese yen. However, the Swiss franc is notably declining, especially since the Swiss National Bank is set to start lowering interest rates in June, according to a Bloomberg survey of economists.
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In Europe, investor sentiments were relatively mixed. The German DAX gained 0.01%, the French CAC40 added 0.2%, and the Polish WIG20 lost 0.06%.
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According to a Nikkei report, the Bank of Japan (BOJ) plans on Tuesday to end yield curve control and purchases of risky assets, including Japanese ETFs and real estate investment trusts (REITs).
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Apple (AAPL.US) is in talks about integrating Google's (GOOGL.US) flagship artificial intelligence model, Gemini, into the next iPhone system update. Alphabet shares gained about 5.50% today, while Apple's shares rose by about 2.00%.
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Starting Friday, March 22, Tesla (TSLA.US) will raise the prices of Model Y cars in Europe and from April 1 in the USA. Prices in the USA will increase by an average of 1000 dollars, and in Europe by about 2100 dollars.
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The first stock market session of the new week at GPW continues to be dominated by the company LPP. Shares of one of the largest fashion retailers in Eastern Europe rebounded from a record drop caused by Hindenburg Research's short selling and gained nearly 23% today alone.
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In February, the core CPI inflation (excluding food and energy prices) was 5.4% year-on-year compared to expectations of 5.3% year-on-year and the previous reading of 6.2% year-on-year.
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Final inflation in the EMU for February was in line with expectations and confirmed the first reading.
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Natural gas prices in the USA (NATGAS) started the new trading week with a bullish price gap. This move seems to be due to new weather forecasts for the United States, indicating lower temperatures over an 8-14 day period. However, the morning increases have been almost completely erased.
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In the cryptocurrency market, we observe nervous sentiments. At the end of the weekend, bulls tried to break above 69,000 USD but selling pressure proved to be stronger. At the time of publication, Bitcoin is losing 2.00% to 67,000 USD. Altcoins are declining even more by 3.20% and Ethereum dropping nearly 4.40%.
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