By: Bedour Alraei
Abu Dhabi-Mubasher: The UAE markets are expected to continue their upward trend after the US Federal Reserve raised interest rates for first time since 2006.
The markets showed a bullish performance on Wednesday after the Fed made its long-awaited interest rate increase, capital market analyst Wadah Al Taha.
The trading volume was thin but relatively better than before, he added.
Al Taha stressed that the markets can recover and reverse the downward trend it witnessed since the beginning of December as cash dividends approach.
The Fed expressed confidence that the economy will be on a solid track, shrugging off the oil prices drop and China’s economic slowdown, noted Al Taha.
Al Taha expected the Fed’s long-awaited interest rate decision to impact the UAE markets yet not in the long run.
Translated by: Julian Nabil
