Notes from US' Trump, Japan's Abe joint press conference

Joshua Gibson FXStreet

US President Donald Trump and Japanese Prime Minister Shinzo Abe held a joint press conference from the White House today, and here's a general summation of their respective statements.

Trump key highlights:

US will continue maximum pressure campaign on North Korea until de-nuclearization is implemented.

Reaffirms close cooperation, common defense with Japan.

Agrees to increase trade consultation with Japan's Abe, between the two countries.

Wants to do something about trade imbalance with Japan.

If US, Japan can come to an arrangement, would discuss retracting steel, aluminum tariffs.

Prefers bilateral trade deal with Japan, intends to keep negotiating a one-on-one trade deal with Japan.

If US can get along with China, with Russia, and with Japan, would be a good thing.

Japan Abe key highlights:

Maximum pressure on North Korea must be maintained.

Will expand trade, investment for the benefit of both nations.

Japan's investments in America have been gaining momentum.

Agrees to start talks with Trump on fair, free, reciprocal trade.

TPP is the best trade deal for both the US and Japan.

Japan will continue to negotiate for steel, aluminum exemptions as Japan does not exert any negative influence on US security.

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.

GBP/USD: Downward-sloping trendline near 1.3470 remains key barrier

The British pound faces selling pressure against its major currency peers, trading 0.1% lower at around 1.3420 against the US Dollar during the European trading session on Tuesday.

Euro flirts with daily tops near 1.1530

EUR/USD has regained momentum after Monday’s pullback, advancing past the 1.1500 barrier to reach daily highs on turnaround Tuesday. Hopes for a diplomatic solution to the Middle East crisis continue to weigh on the US Dollar, alongside disheartening June US JOLTs figures.

Ripple Price Forecast: XRP extends technical weakness despite whales increasing exposure

Ripple (XRP) declines for a second day in a row, trading around $1.07 at the time of writing on Tuesday. The remittance token has continued to sustain a bearish outlook, aligning with the broader cryptocurrency market.

Volatility waits for fresh catalyst ahead of US-Iran 'talks'

EU mid-market update: SpaceX and AMD to report after the close; Volatility waits for fresh catalyst ahead of US-Iran 'talks'. - Middle East and energy drives sentiment still.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.