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8/15/24, 9:41 AM Gulf markets rise amid global stock rally | Reuters
Gulf markets rise amid global stock rally

By Md Manzer Hussain

August 14, 20245:32 PM GMT+4Updated 16 hours ago

A trader looks on near electronic boards showing stock market data at Bahrain Bourse after Joe Biden won the U.S. presidency, in Manama, Bahrain,
November 8, 2020. REUTERS/Hamad I Mohammed/File Photo Purchase Licensing Rights

Aug 14 (Reuters) - Stock markets in the Gulf tracked global shares to end higher on Wednesday, after the U.S.

producer price data pointed to inflation cooling, which supported speculation that the Federal Reserve could
cut rates soon.

Markets are pricing in a roughly 51.5% chance of a 50 basis point rate cut, and a 48.5% chance of a 25 basis
point cut, at the Fed's next meeting in September.

Monetary policy in the six-member Gulf Cooperation Council (GCC) is usually guided by the Fed's decisions,
as most regional currencies are pegged to the U.S. dollar.

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