Trump's first foreign trip dominates markets | Calamatta Cuschieri

The financial markets are set to be dominated by Donald Trump’s first foreign trip as US President

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Calamatta Cuschieri
22 May 2017, 12:28pm
Donald Trump together with his wife Melania at the Saudi Kingdom; the first stop from the nine day long trip for the US President
Donald Trump together with his wife Melania at the Saudi Kingdom; the first stop from the nine day long trip for the US President
The financial markets are set to be dominated by Donald Trump’s first foreign trip as US President. The nine-day trip will give the President a break from domestic issues, specifically the ongoing Russian scandal, where Russians are being accused of meddling in the American election in order to influence results in Trump's favour, and last week’s firing of director James Comey of the FBI, which is being treated with suspicion as he was investigating any potential ties between the Trump campaign and the Russian government in the run up to the general election.

On Saturday, Donald Trump together with his wife Melania, landed in Saudi Arabia aboard Air Force One after a fourteen hour flight. The Saudi Kingdom will be Trump’s first stop on the nine day long trip, which is his first beyond American shores as President. He will also be visiting Israel and the Vatican as part of a tour which aims to visit countries that are pre-dominantly Muslim, Jewish and Christian. Many are seeing this tour as a religious tour in an attempt to fight and stamp out extremist ideologies and the threat by ISIS both to the Middle Eastern region and the world as a whole.

Donald Trump being bestowed with the country’s highest honour as he was given a gilded necklace and medal by the King himself
Donald Trump being bestowed with the country’s highest honour as he was given a gilded necklace and medal by the King himself
In Saudi Arabia, Trump was given a royal welcome and red carpet treatment as he was greeted by the Saudi King Salman and a military parade. He was also bestowed with the country’s highest honour as he was given a gilded necklace and medal by the King himself. On Sunday, Trump delivered a speech to Muslim leaders in which he focused on radical Islamic terrorism. He also signed an arms deal with Saudi Arabia worth $350 billion over a ten-year period which would further strengthen the relationship between the two countries which was strained under the Obama administration as focus was given to Iran and its nuclear ambitions. The Middle Eastern kingdom’s intentions in signing such a deal are to bolster their defences in the wake of ISIS. On Monday, Trump is set to land in Israel and meet with the Israeli Prime Minister Benjamin Netanyahu in an effort to broker a peace deal with the Palestinian state, even though previous presidents have so far failed to do so.

Disclaimer:

This article was issued by Simon Gauci Borda, Trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article is being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website.

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