PMI reports from the EU, the UK, and the USA will be released during the day!
Germany asks EU to file WTO complaint against America
The European Union is expected to consider filing a complaint at the World Trade Organization against the United States of America as for planned duties on imports of steel plate from five EU member states, as the German foreign minister disclosed on Friday.
Sigmar Gabriel stressed that the American authorities seemed prepared to give US companies unfair competitive advantage over EU producers even although this violated international trade law.
The minister told that Europeans can’t stand it. The EU should examine whether it should file a complaint at the WTO and Germany will back it.
The US Department of Commerce found out that seven foreign producers dared to dump certain carbon as well as alloy steel cut-to-length plate in the America market, enabling it to impose duties varying from 3.62% to 148%, as Commerce Secretary Wilbur Ross told on Thursday.
In Germany, for AG der Dillinger Hüttenwerke duties were set at 5.38%, 22.90% for the Salzgitter group and also 21.03% for all other producers and exporters.
Today traders await the European Central Bank to make a policy statement at 14:45 MT (GMT+3).
The European Central Bank will make its policy statement on July 22 at 14:45 MT (GMT+3).
This week Apple, Microsoft, Google, Facebook, Pfizer, and other large US companies will deliver earnings reports…
The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…