The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
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.
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The Canadian central bank will make a monetary policy report and announce interest rates on Wednesday, January 20, at 17:00 MT time. Also, the BOC press conference will be held later.
The market optimism waned amid stricter restrictions to control rising coronavirus infections. S&P 500 and Nasdaq dropped from the all-time highs, while the USD jumped higher.
S&P 500 skyrocketed to the all-time high on optimism that Biden’s fiscal stimulus will support economic growth and boost corporate earnings.
PMI reports from the EU, the UK, and the USA will be released during the day!