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WORLD HEADLINES – The U.S. dollar turned negative after hitting a three-week high at the end of a U.S.-North Korea summit aimed at the denuclearization of the Korean peninsula.
STOCKS – In Asian equity markets, trading was volatile with Japan’s Nikkei paring early gains to close 0.3 percent higher after earlier rising as much as 0.9 percent.
BONDS – U.S. inflation data due later in the day should add to speculation over the path for U.S. interest rates later this year. Markets are currently pricing a slightly more than 1 in 5 chance of a fourth interest rate hike by the end of the year.
COMMODITIES – U.S. crude rose half a percent while Brent climbed half a percent. Gold consolidated during the overnight trading session.
CURRENCIES – On the carry trade yen, the dollar jumped to a three-week top in early trading. The euro was just below a three-week high, up 0.1 percent on the day.
ECONOMIC DATA – US Core CPI due at 8:30, 30-y Bond Auction due at 13:01 ET.
