As reported by Reuters, the recent Trump-Kim summit was heavy on promises but light on specific details, and the path forward for developments between the two countries remains unclear.
Key quotes
"Speaking in Seoul, Pompeo said he expected the United States and North Korea to resume contacts within the next week or so. “I would anticipate it will be fairly quickly after we return to our home countries,” he said. “I don’t know exactly what form that will take, but I’m very confident that by some time in the next week or so we will begin the engagement.” Pompeo also sought to blunt criticism that Trump gave away too much - including even holding the meeting with the North Korea leader and making a promise to end U.S.-South Korean military exercises - in return for too little. Pompeo said the two sides reached “understandings” on many issues that were not captured in the leaders’ statement.
Pompeo, White House National Security Adviser John Bolton “and/or the entire team” will get together next week to go over details “and to get this stuff done,” Trump said on Tuesday. Trump said verification would be achieved only by “having a lot of people” in North Korea but provided no details on how the United States might confirm Pyongyang was keeping its word.
At their first summit in April, South Korean President Moon Jae-in and North Korea’s Kim Jong Un pledged to take a number of steps to promote Korean reconciliation. In the coming days, officials from North and South Korea will meet for working-level talks to discuss some of those steps, including military hotlines, family reunions of Koreans divided since the Korean War and sports exchanges. “The problem with inter-Korean reconciliation projects is that sanctions will not be lifted if there’s no implementation of denuclearization,” said Shin Beomchul, senior fellow at Seoul’s Asan Institute for Policy Studies think tank. “Hence, the important thing next for inter-Korean relations would be the speed that sanctions are lifted.”
Trump also said he looked forward to visiting Pyongyang, and that he had invited Kim to the White House, with both visits to occur “at the appropriate time.” “He has accepted. I said, at the appropriate time. We want to go a little bit further down the road,” Trump said. The White House declined to elaborate on Trump’s comments about the timing. One opportunity for Kim to visit might come in September for the annual U.N. General Assembly gathering of world leaders in New York."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD steady below 1.0800 after US PCE meets expectations
EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair barely reacted to US PCE inflation data, with the Greenback shedding some pips. Fed Chair Jerome Powell set to speak ahead of the weekly close.
GBP/USD hovers around 1.2620 in dull trading
GBP/USD trades sideways above 1.2600 amid a widespread holiday restraining action across financial markets. Investors took a long weekend ahead of critical United States employment data next week. Fed Chair Powell coming up next.
Gold price sits at all-time highs above $2,230
Gold price holds near a fresh all-time high at $2,236 in thinned trading amid the Easter Holiday. Most major world markets remain closed, although the United States published core PCE inflation, the Federal Reserve’s favorite inflation gauge.
Jito price could hit $6 as JTO coils up inside this bullish pattern
Jito (JTO) price has been on an uptrend since forming a local bottom in early January. Since then, JTO has revisited the key swing point formed in early December, suggesting the bulls’ intention to move higher.
Key events in developed markets next week
Next week, the main focus will be inflation and the labour market in the Eurozone. We expect services inflation to be impacted by the easter effect, while the unemployment rate to be unchanged.