Most stock markets in the Gulf ended higher on Tuesday as investors await key U.S. economic data due later in the week.
Markets have already pushed out the potential timing of first easing of rates from May to June © Mena Today
Most stock markets in the Gulf ended higher on Tuesday as investors await key U.S. economic data due later in the week.
Inflation data from several major economies and manufacturing figures out of China are in focus this week.
Most closely monitored will be Thursday's release of the U.S. personal consumption expenditures price index, which the Federal Reserve uses to track its 2% inflation target.
Markets have already pushed out the potential timing of first easing of rates from May to June, with the current probability priced at around 70%. Futures imply a little more than three quarter-point cuts this year, down from five at the beginning of the month.
Gulf currencies are pegged to the dollar and any monetary policy change in the United States is usually followed by Qatar, the United Arab Emirates and Saudi Arabia.
Reuters
The International Monetary Fund (IMF) has slightly revised Egypt’s economic growth forecast for the fiscal year ending in June 2025, raising it to 4 percent, up from its previous estimate of 3.8 percent, according to the July 2025 update of its World Economic Outlook (WEO) report.
In a bold stride to reshape its position on the global mining map, Egypt has inked two significant agreements with leading international mining firms—part of a broader strategy to unlock the nation’s mineral wealth and diversify its economy beyond traditional sectors.
Chinese Premier Li Qiang’s visit to Egypt marks a major diplomatic milestone in strengthening China-Egypt ties, said Chinese Ambassador to Egypt Liu Licheng in a statement issued Wednesday.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.