Page 35 - SALIK PR REPORT - MARCH 2024
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3/27/24, 10:13 AM Gulf bourses mixed in early trade — TradingView News
The Qatari benchmark index GNRI eased 0.2%, weighed down by losses in
most sectors, with Masraf Al Rayan MARK dropping 4.7% and Qatar
Navigation QNNS sliding 1.1%.
However, Qatar National Bank, the region's largest lender, gained 0.8%.
The crucial February reading of the Personal Consumption Expenditures (PCE)
price index, the Fed's preferred inflation gauge, is due on Friday. A hot reading
for the PCE index could dent market optimism around early rate cuts.
Most Gulf currencies are pegged to the dollar, and any U.S. monetary policy
change is usually mimicked by Saudi Arabia, the United Arab Emirates and
Qatar.
($1 = 3.7503 riyals)
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