After a week of dull trading, Gulf stock markets may regain some direction in the coming week in response to a policy decision by the U.S. Federal Reserve and developments in the eurozone debt crisis.
“The next two weeks are critical – we have the quantitative easing announcement in the U.S. and the Greek debt talks in Europe; these things can take the market in either direction,” said Joe Kawkabani, chief investment officer for equities at Franklin Templeton Investments (ME).
Late in the global day Wednesday, the Fed was expected to conclude a policy meeting and announce a fresh effort to stimulate the U.S. economy, possibly by rebalancing its $2.8 trillion portfolio of bond holdings to weight them more heavily toward longer-term securities. Any positive reaction by global markets would almost certainly buoy the Gulf.
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