November 30, 2022

Trump-Putin summit in Helsinki: Are we facing a new era? > Forex Highlights

Trump-Putin summit in Helsinki: Are we facing a new era?

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U.S. President Trump meets with the Russian President Putin at the presidential palace in Finland. Prior to the long-awaited Trump-Putin summit, the US President undertook the responsibility for US-Russia bad relationship. He denounced past “U.S. foolishness and stupidity”.

Trump’s comment on Twitter ahead of his meeting with Vladimir Putin was supported by the Russians, as Russia’s Ministry of Foreign Affairs says it agrees.

The two leaders hold a one-on-one meeting with the presence of interpreters only. A working lunch will follow, where they will be accompanied by advisers.

A US official said that Trump doesn’t want aides — who may take a harder line on Russia — undercutting or interrupting him during his talks with Putin.

There is no clear agenda. However, the prospect of extending a nuclear disarmament treaty, the war in Syria, China and trade are among the candidate topics. On the other hand Trump mentioned that none of the issues that have lately brought U.S.-Russian relations to the lowest point since the Cold War will be discussed.

Critics and Trump’s own advisers have urged Trump to use the summit to press Putin hard about “malign” activities.

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FOREX MARKETS

The dollar fell 0.2% against his six major traded rivals to a two-week after weakening half a percent last week.

The Australian dollar edged 0.2 percent higher at 0.7433 cents per dollar.

The Sterling remained unchanged against both the dollar and the euro ahead of a debate in the British parliament about Brexit.

Oil fell on Monday as concerns about supply disruptions eased and Libyan ports reopened. Although prices still fell for a second straight week, traders eyed potential supply increases by Russia and other oil producers.

Sources: Reuters, CNN money, the guardian

PLEASE NOTE The information above is not investment advice.

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