GCC Macro Daily(Beta Mode)
Saudi Non-Oil Hits Record as UAE Equities Surge
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| Saudi Aramco | 26.52 | -0.30% |
| MSCI Saudi | 38.56 | +0.38% |
| MSCI UAE | 20.30 | +3.49% |
| DFM General | 6,163.50 | +nan% |
| MSCI Qatar | 18.54 | +0.22% |
| MSCI Kuwait | 37.41 | +0.00% |
| Brent Crude | 80.59 | +0.93% |
| WTI Crude | 76.54 | -0.08% |
| Gold | 4,245.90 | +0.52% |
| USD/SAR | 3.75 | +3.12% |
| USD/AED | 3.67 | +0.03% |
| USD/KWD | 0.31 | -0.10% |
| Bitcoin | 64,161.96 | +0.98% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Saudi Merchandise Exports | Type: macro_line | USD bn: 21.45 (2026-03-01) | Range: -36.57–98.83 | Trend(5pt): 73.58,31.3,-15.45,3.387,21.45
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- Saudi non-oil sectors added $278.6bn to GDP with exports reaching $166.1bn record.
- UAE retained top-five global competitiveness ranking while MSCI UAE jumped 3.49%.
- Qatar CPI fell 0.51% in May on lower transport costs amid stable GCC pegs.
Yesterday's Recap
Saudi non-oil sectors delivered $278.6bn in value added while merchandise exports climbed to a record $166.1bn, underscoring Vision 2030 momentum. Qatar’s CPI declined 0.51% in May, driven by cheaper transport costs. MSCI UAE rose 3.49% and DFM General Index advanced, while MSCI Saudi gained 0.38% and Aramco slipped 0.30%.
Brent crude climbed 0.93% to $80.59, supporting energy-linked assets across the region. USD/SAR held at 3.75 and USD/AED at 3.67, confirming continued peg adherence. Kuwait’s USD/KWD rate eased 0.10% to 0.31 under its basket regime.
No major data releases occurred in any GCC market.
The Day Ahead
Markets face a data-light session with no scheduled releases across Saudi Arabia, UAE, Qatar, Kuwait, Oman or Bahrain. Focus will remain on oil price stability and follow-through from Saudi export strength. Regional equity flows may track Brent above $80.
Tourism and aviation expansion news from UAE and Qatar could support sentiment. Sovereign CDS and interbank rates are expected to stay anchored to Fed policy signals.
Other Economic Notes
Saudi Arabia ranked third globally for new business creation, reflecting regulatory reforms that continue to lift competitiveness. UAE maintained its top-five global competitiveness position, aided by strong real-estate and financial activity. Both economies are accelerating diversification away from hydrocarbons through tourism, aviation and green initiatives.
Regional visitor numbers are on track to exceed prior records, supporting non-oil fiscal revenues. Saudi Arabia and France are backing Uzbekistan’s $78 million green economy initiative. Saudi Arabia maintains its leadership in global cybersecurity rankings for the third consecutive year and ranks third globally for business creation.
Global Macro News
Brent settled at $80.59 after a 0.93% gain, reinforcing fiscal buffers for all six GCC states. Gold rose 0.52% to $4,245.90 on modest safe-haven demand. Broader equity sentiment improved with Bitcoin adding 0.98%.
<i>↓ p.2</i>
