North Korea / U.S. summit update: meetings between staffs and representatives are going well and quickly - Trump

Ross J Burland FXStreet

President Trump and Kim Jong Un are meeting for the first time in an unprecedented summit in Singapore today.

Trump seeks a complete and verifiable denuclearization of the Korean peninsula while Kim is looking for the sanctions on the North to be eased.

Their meeting is to begin at 9 a.m local times, (1300GMT/ just under two hours time). Trump and Kim will participate in a one-on-one meeting, then their top advisers will join in on a working lunch.

There will then be a more thorough meeting where the United States' delegation will include Secretary of State Mike Pompeo, White House chief of staff John Kelly, and National Security Adviser John Bolton as they get down to the nitty-gritty of the topic of denuclearization.

Schedule:

9:00 pm ET (01:00 GMT): Trump and Kim meet
9:15 pm (01:15 GMT): Trump and Kim meet 1-on-1
10:00 pm (02:00 GMT): Trump and Kim are joined by Mike Pompeo, John Kelly, and John Bolton
11:30 pm (03:30 GMT): Trump and Kim have a working lunch and are joined by Sarah Sanders, Sung Kim & Matt Pottinger.

The latest update we have came from a Tweet on Trump's feed. In recent trade, the president acknowledged in a tweet that:

Meetings between staffs and representatives are going well and quickly....but in the end, that doesn’t matter. We will all know soon whether or not a real deal, unlike those of the past, can happen!

JPY: staying long into risk-laden week - TDS

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

AUD/USD climbs toward 0.7000 after strong China data dump

AUD/USD attracts follow-through buyers for the second straight day on Monday, extending last week's recovery toward 0.7000 in Monday's Asian trading. Strong Chniese Q3 GDP and activity data for September strengthen the pair's advance, following RBA Assistant Governor Chris Kent's hawkish remarks.

USD/JPY struggles near 158.00 amid hawkish BoJ, subdued USD

USD/JPY remains defensive near 158.00 in the Asian session on Monday, as the US Dollar remains depressed near a two-week low amid the recent decline in US bond yields. Furthermore, looming intervention risks underpin the Japanese Yen and weigh on the pair amid BoJ Governor Kazuo Ueda's hawkish remarks. However, Fed rate-hike bets and geopolitical uncertainties could limit USD losses and the major.

Gold drops to daily lows below $4,150

Gold builds on Friday’s retracement and slips back below the $4,150 mark per troy ounce on Monday. The better tone in the US Dollar and a decent bounce in US Treasury yields across the curve keep the yellow metal under pressure for now.

Crypto Today: Bitcoin, Ethereum, XRP extend recovery despite ETFs outflows

Bitcoin edges higher above $82,000, building strong structural support despite roughly $229 million in ETF outflows last week. Ethereum recovers above $2,400 as bulls strive to regain trend control, backed by a subtle recovery in momentum indicators.

Higher than expected inflation shakes markets: What to prepare for?

US CPI report came in stronger than expected, lifting the probability of a December rate hike higher once again. Even though Fed Chair Warsh reinforced expectations of a hold for the October’s meeting, markets now face a two-step event: a likely pause on October 28, followed by an interest rate hike on December 9.

The US Dollar fell. Gold didn't rally. That tells you everything

Gold (XAU/USD) is struggling to capitalize on a weaker US Dollar (USD), after repeatedly failing to establish itself above the $4,200 level. The precious metal remains confined to a relatively narrow trading range despite a combination of developments that would normally support higher prices.