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Morning Summary: Tensions Are Escalating Between Czech Republic and Russia

CZECHIA
  • Covid cases continue to fall with the 7D SMA of daily new cases down from 3,900 to 3,100 in the past week, its lowest level since early October.
  • Tensions have been escalating between Czech Republic and Russia as Czech expels 18 Russian diplomats by blaming Russia's security services were involved in explosions at a munitions warehouse in the southeast of the country in 2014. Russian officials denied that there had been any Russian involvement in the explosions, mentioning that Czech allegations were 'nonsense', and decided to kick 20 Czech diplomats out of Moscow.
  • In the first quarter, Czech passenger car output grew by 2.8 percent yr/yr to 331,897 according to the Automotive Industry Association.
  • This morning, Czech March industrial PPI rose more than expected to 3.3% (vs. 2.6% exp.), up from 1.4% the previous month.
  • At 1pm (London time), lower chamber of parliament will resume plenary session.

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