The W3C XQuery working group has posted the candidate recommendations of XQuery Update Facility, XQuery Update Facility Use Cases, and XQuery Update Facility 1.0 Requirements. XQuery as it currently exists is basically just SELECT in SQL terms. XQuery Update adds INSERT, UPDATE, and DELETE. More specifically it is:
upd:mergeUpdates
upd:revalidate
upd:applyUpdates
upd:insertBefore
upd:insertAfter
upd:insertInto
upd:insertIntoAsFirst
upd:insertIntoAsLast
upd:insertAttributes
upd:delete
upd:replaceNode
upd:replaceValue
upd:replaceElementContent
upd:rename
upd:removeType
upd:setToUntyped
This is one of the last two pieces before XQuery 1.0 is really complete. (The other is full-text search.)