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Most Gulf markets in black ahead of US inflation data

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Sept 11 - Most stock markets in the Gulf ended higher on Monday, ahead of crucial U.S. inflation data that could provide cues about the Federal Reserve's interest rate trajectory.

Monetary policy in the six-member Gulf Cooperation Council is usually guided by Fed policy as most regional currencies are pegged to the U.S. dollar. The Saudi bourse stabilized to a certain extent but could remain exposed to more price corrections if oil prices retreat, said Ahmed Negm, Head of Market Research MENA at XS.com.

 

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