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Most Gulf bourses edge up on energy relief, fading Fed hike odds
Most Gulf markets closed higher on Monday as easing energy disruption fears and tempered expectations of an immediate Federal Reserve rate hike bolstered sentiment, while the Middle East war continued to simmer. Cooling US jobs data and sharp downward payroll revisions slashed the odds of a Fed rate hike this month from 64% to under 20%, according to the CME FedWatch tool, though traders still anticipate a December move. Gulf markets tend to track shifts in US monetary policy expectations as most regional currencies are pegged to the dollar. Middle East crude exports surpassed levels seen befo...
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