The market sentiment is mixed. Let’s look at most interesting movements on the market today.
South Korea dislikes China's response to anti-missile system
On Monday, South Korea's trade minister told that Seoul had complained to the World Trade Organization about China's recent retaliation against South Korean companies over the deployment of an American anti-missile defense system in the South.
The South Korean government notified the WTO that China might be in violation of certain trade agreements.
The issue was actually raised with the WTO's Council for Trade in Services on Friday right after China dared to impose restrictions on a series of South Korean companies in the tourism as well as distribution sectors.
A trade ministry official, who asked not to be identified due to the sensitivity of the matter, told that the complaint couldn’t be categorized as legal action. It was rather a request for the World Trade Organization to look into whether China was upholding trade agreements fairly enough or not.
Meanwhile, in Beijing, Hua Chunying, Chinese Foreign Ministry spokeswoman refused to comment directly on the WTO complaint.
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.