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8/13/24, 11:18 AM Most Gulf markets gain ahead of US data | Reuters
Most Gulf markets gain ahead of US data

By Ateeq Shariff

August 12, 20245:32 PM GMT+4Updated 18 hours ago

People walk near a Banque Saudi Fransi building fronted with a picture of Saudi Arabia's King Salman bin Abdulaziz Al Saud and Crown Prince
Mohammed bin Salman in Jeddah, Saudi Arabia, July 13, 2022. Picture taken July 13, 2022. REUTERS/Mohammed Salem/File Photo Purchase
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Aug 12 (Reuters) - Most stock markets in the Gulf closed higher on Monday, in line with global shares, as
investors looked ahead to U.S. and Chinese economic data.

Investors were looking ahead to U.S. consumer price index data for July on Wednesday, which is expected to
show month-on-month inflation ticked up to 0.2% after a minus 0.1% reading in June. Retail sales data is due
on Thursday.

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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