Deal made for Trump-Putin summit - Reuters

Joshua Gibson FXStreet

As reported by Reuters, A deal has been struck for an upcoming summit between US President Donald Trump and Russian President Vladimir Putin, and contenders for a 3rd-party meeting place are currently under consideration.

Key quotes

"Kremlin foreign policy aide Yuri Ushakov, speaking after Putin met U.S. National Security Adviser John Bolton in the Kremlin, said the summit would take place in a mutually convenient third country and that several more weeks were needed to prepare for it. Moscow and Washington will announce the time and place of the summit on Thursday. In Washington, Trump said their meeting likely would take place after a July 11-12 summit of NATO leaders he is due to attend.

Trump confirmed that Helsinki was a possible site. Other officials said the Russians were pushing for the summit to be in the Austrian capital of Vienna.

Trump listed Syria and Ukraine among the many subjects he said they would discuss. His list did not include warnings from U.S. intelligence officials that Russia will try to interfere in U.S. congressional elections in November. The two men last met in November on the sidelines of an Asia-Pacific summit in Vietnam. After those talks, Trump said he believed Putin’s denials Russia had meddled in the 2016 U.S. presidential election - remarks Trump later backed away from.

“It is entirely possible for a U.S.–Russia summit to be constructive, but I’m very concerned that after his recent performance at the G7 in Canada, President Trump will once again clash with our closest allies at the upcoming NATO summit, only to then engage in fawning photo ops with President Putin afterwards,” Democratic Senator Chris Coons said in a statement."

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

AUD/USD consolidates above 0.6950 amid bullish USD

AUD/USD consolidates during the Asian session on Thursday, trading just above 0.6950 as traders await further developments surrounding the Middle East crisis. The Pentagon reportedly ordered readiness for potential strikes against Iran. This keeps the geopolitical risk premium in play, which, along with hawkish FOMC Minutes on Wednesday and elevated US bond yields, supports the bullish US Dollar and caps the currency pair.

USD/JPY slips below 158.00 as bulls turn cautious amid JPY intervention fears

USD/JPY retreats further from a one-and-a-half-week top, touched the previous day, and slid below 158.00 during the Asian session on Thursday amid speculation that authorities will step in to prop up the Japanese Yen. Meanwhile, the US Dollar sits near an 18-month high, supported by Wednesday's hawkish FOMC Minutes and the risk of a further escalation of tensions in the Middle East. This might continue to act as a tailwind for the currency pair.

Gold hangs near two-month low; seems vulnerable around $4,100

Gold struggles to capitalize on the overnight bounce from a two-month low, trading with a mild negative bias around $4,100 during Thursday’s Asian session. Hawkish FOMC Minutes reaffirmed bets for at least one more rate hike by year-end. Adding to this, elevated US bond yields weigh on the non-yielding bullion. The US Dollar further benefits from geopolitical uncertainties and sits near an 18-month high, undermining the commodity.

Ethereum drops below $2,600 as Tom Lee says BitMine will end buying spree

Ethereum (ETH) treasury firm BitMine Immersion (BMNR) will halt its weekly accumulation of the top altcoin over the next few months. BitMine Chairman Thomas Lee, speaking at the Token2049 conference in Singapore, said that the company will stop buying when its stash reaches 5% of ETH's circulating supply. He noted that BitMine will reach that threshold if it acquires an additional 100,000 ETH.

The US 10-year just hit a 2002 high. Does it give the US Dollar its next leg?

In 2026, the US Dollar Index, which measures the Dollar against six major currencies, has risen on days when Federal Reserve rate expectations pushed Treasury yields up and barely moved on days when something else did. The last stretch of the 10-year yield's climb to its highest since 2002 was the second kind.

The UK 30-year gilt just hit a 1998 high. Is that good or bad for the British Pound?

The yield on the UK's 30-year government bond, or gilt, went through 6% on October 1 for the first time since early 1998, and on Monday the Pound was at its strongest against the Euro since June 2025. The gilt market's 28-year high is mostly someone else's. Since early May, the 30-year gilt yield has risen about 0.15 of a percentage point and the US 30-year about 0.7.