Middle East Daily

Regional markets are focused on the recovery of oil exports through the Strait of Hormuz and the impact of softening US economic data on rate expectations. Meanwhile, UAE private sector growth has decelerated to a five-year low due to regional uncertainty.

Key Takeaways

• 1.Oil prices remain stable as exports from Saudi Arabia and the UAE recover following the normalization of traffic through the Strait of Hormuz.
• 2.UAE non-oil private sector growth slowed significantly in June, with the PMI falling to its lowest level in over five years.
• 3.Gold prices gained support from weaker-than-expected US jobs data which lowered expectations for a July Fed rate hike.

Table of Contents

• COMMODITIES / ENERGY
• MIDDLE EAST – CREDIT TRADING
• MIDDLE EAST – MACRO / MARKETS
• CALENDAR – DATA / EVENTS / MEETINGS
• MARKET INDICATORS

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