The US dollar surged yesterday after the positive US data, but turned down today. Jump in to get a market wrap!
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.
Australian Private Capital Expenditure will be out on Thursday at 2:30 MT time!
Oil jumped to March high, stocks are heading to record highs, while the US dollar is on the back foot.
News geeks get ready for the chain of US reports, which starts at 15:30 MT time on November 25!