The market sentiment is mixed. Let’s look at most interesting movements on the market today.
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.
The Reserve Bank of Australia will publish its statement and announce the interest rate on July 7, at 7:30 MT time.
The overall market sentiment was mixed after the USA recorded the largest increase in virus cases since May 9. The data even offset the better-than-expected NFP.
The risk-on tone is back on the market again. Let’s look at main trading opportunities.