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
Saudi Arabia is preparing to abandon its unofficial $100 a barrel oil price target as it gets ready to raise output to win back market share, even if it means lower prices, the Financial Times reported on Thursday.
A decision on an IPO is for the shareholder ADQ to make, the CEO of Abu Dhabi's Etihad Airways, Antonoaldo Neves, said on Wednesday.
Australia said on Tuesday it had reached a trade deal with the United Arab Emirates that would remove tariffs for about 99% of Australian products, and resulting in savings of A$135 million ($91 million) in the first year.
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