U.S. housing data, political turmoil hit dollar; global stocks flat

U.S. housing data, political turmoil hit dollar; global stocks flat

(Worthy News) – The U.S. dollar index touched its lowest level since early November on Tuesday, hurt by weaker-than-expected U.S. housing data and as political turmoil in Washington raised anew concerns about the outlook for passing expected legislation.

A rally in the euro was reinforced by dollar losses, prompted by reports that U.S. President Donald Trump disclosed highly sensitive intelligence information to senior Russian officials at a meeting last week.

The disclosure adds to concern over the administration’s chances of passing legislation, including tax reform, that has been priced in partly by financial markets. Major U.S. stock indexes remain at or near record highs, supported by the strongest earnings season for S&P 500 components since 2011.

The dollar fell even after U.S. manufacturing production recording its largest increase in more than three years. [ Source ]

Trump to give ‘inspiring’ speech on Islam in Saudi Arabia

Trump to give ‘inspiring’ speech on Islam in Saudi Arabia

(Worthy News) – US President Donald Trump will urge unity between the world’s major faiths on an ambitious first foreign trip that will take him to Saudi Arabia, the Vatican and Jerusalem, the White House said Tuesday.

National Security Adviser H.R. McMaster laid out a detailed itinerary for the “historic trip,” due to start late this week, and confirmed that Trump would address a gathering of Muslim leaders on his “hopes for a peaceful vision of Islam.”

“He will meet and have lunch with leaders of more than 50 Muslim countries, where he will deliver an inspiring, direct speech on the need to confront radical ideology and the president’s hopes for a peaceful vision of Islam,” McMaster said. [ Source ]

Gulf states warm to Israel, see possibility of Palestinian peace deal

Gulf states warm to Israel, see possibility of Palestinian peace deal

(Worthy News) – Gulf states that long opposed Israel’s every move are proposing a rapprochemont in the hopes of restarting the Palestinian peace process.

The development comes just days ahead of historic meetings between President Trump and Middle Eastern leaders. It consists of a draft proposal reportedly offered up by Sunni Muslim Gulf states and offers closer economic and diplomatic ties with Israel in exchange for significant moves in restarting the Palestinian peace process.

The plan, first reported by The Wall Street Journal, is outlined in a draft document circulated by the Gulf states, the mostly Sunni Muslim countries that line the Persian Gulf, including Saudi Arabia, Qatar, Kuwait and the United Arab Emirates, among others. [ Source ]