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Welcome to Emirates NBD Research

We provide clients with in-depth knowledge on regional and financial markets within the global context.

About Us

Monthly Insights - January

A round up of our publications and forecasts from January 2023

ECONOMICS, MARKETS - 26.01.2023

US macro scorecard - December

A roundup of the most widely followed macro data points from the US, compared to expectations and the previous month s results.

ECONOMICS, GLOBAL MACRO - 31.01.2023

Oil market conditions to keep OPEC on sidelines

Uncertainty hangs over a price cap on Russian refined exports.

MARKETS, COMMODITIES - 30.01.2023

UAE Outlook: Growth moderating in 2023

We expect growth in the UAE to settle to a more moderate rate over the next couple of years compared with that seen in 2022

ECONOMICS, GCC MACRO - 26.01.2023

Daily Outlook

Eurozone manages to record growth in Q4
01.02.2023

IMF revises global growth outlook upwards
31.01.2023

Markets look to central banks this week
30.01.2023

US records GDP growth but concerns remain
27.01.2023

Positive data improves sentiment in Germany
26.01.2023

Are markets right to doubt the Fed?

Two 25bp rate cuts are currently priced in for H2 2023 but Fed officials are pushing back, saying that rates will need to stay higher for longer.

ECONOMICS, MARKETS - 25.01.2023

Saudi Arabia: Non oil sector will drive growth

We expect that the growth dynamics in Saudi Arabia will be reversed this year, with the non oil sector taking over as the primary driver

ECONOMICS, GCC MACRO - 24.01.2023

ECB hawkishness to support Euro

As the Fed prepares to slow down, the ECB maintains a hawkish edge.

MARKETS, FX - 24.01.2023

Dubai Real Estate - Q4 2022

2022 was a landmark year for the real estate sector in Dubai.

SECTOR ECONOMICS, REAL ESTATE - 19.01.2023

Kuwait: Growth will slow in 2023

Real GDP growth in Kuwait will slow this year as the 2022 gains in oil production are not set to be repeated

ECONOMICS, GCC MACRO - 16.01.2023

Fed can move at slower pace as inflation eases

The FOMC will hike by 25bps at its February meeting.

MARKETS, FIXED INCOME - 13.01.2023

Dubai PMI picks up in December

The PMI survey for Dubai rose to 55.2 in December, from 54.9 the previous month

PMIS, ECONOMICS - 10.01.2023

PMIs

Dubai PMI picks up in December
10.01.2023

Regional PMIs: UAE and Saudi Arabia maintain expansion despite global slowdown
04.01.2023

Dubai PMI slips to seven month low in November
13.12.2022

Regional PMIs: UAE PMI slips in November on slowing global growth
07.12.2022

Firms increase hiring as Dubai PMI remains strong
09.11.2022

Gold prices gaining on waning Fed bets

Range bound yields or a pivot from the Fed will support gold this year.

MARKETS, COMMODITIES - 10.01.2023

GCC growth set to outperform many developed markets in 2023

Non-oil growth is expected to slow this year as higher a weaker external backdrop and higher interest rates weigh on demand. Public sector investment will remain supportive however.

ECONOMICS, GCC MACRO - 09.01.2023

Jordan: Growth will improve but remain lacklustre

We expect that real GDP growth in Jordan will improve this year but only modestly

ECONOMICS, MENA MACRO - 06.01.2023

Oil prices face a soft start to the year

But conditions in 2023 still support prices moving higher.

MARKETS, COMMODITIES - 06.01.2023

China: Reopening to support global growth

The easing of Covid 19 restrictions in China should provide a fillip to global growth through the second half of the year

ECONOMICS, GLOBAL MACRO - 06.01.2023

Morocco: Growth will improve as harvests normalise

We expect Moroccan GDP growth to strengthen this year on the back of an improving agricultural sector

ECONOMICS, MENA MACRO - 05.01.2023

Regional PMIs: UAE and Saudi Arabia maintain expansion despite global slowdown

UAE and Saudi Arabia maintain expansion despite global slowdown while Egyptian contraction slows

PMIS, ECONOMICS - 04.01.2023

Metals prices will face challenges in H1

China easing Covid rules will be a positive eventually.

MARKETS, COMMODITIES - 04.01.2023

Global growth to slow in 2023 as central bank tightening bites

Fed remains focused on wage growth and tight labour market.

ECONOMICS, GLOBAL MACRO - 20.12.2022

DUBAI

Dubai PMI picks up in December

The PMI survey for Dubai rose to 55.2 in December, from 54.9 the previous month

PMIS, ECONOMICS - 10.01.2023

Dubai GDP grew 4.6% in the year to September

The emirate is on track to achieve our full year GDP growth forecast of 5.0% in 2022.

ECONOMICS, GCC MACRO - 14.12.2022

Dubai Tourism: Visitor numbers up 134% on 2021 through October

Total visitor numbers still 15% below pre-pandemic levels as China remains constrained by Covid-zero restrictions.

ECONOMICS, DUBAI - 14.12.2022

Firms increase hiring as Dubai PMI remains strong

The Dubai PMI slipped modestly in October, but it remained strong and firms still reported strong hiring on the back of the robust expansion

ECONOMICS, GCC MACRO - 09.11.2022

Dubai Real Estate - Q3 2022

Purchases of off-plan properties surge amid higher interest rates and market conditions.

ECONOMICS, SECTOR ECONOMICS - 12.10.2022

Dubai PMI slips but still strong in September

The Dubai PMI slipped in September, falling to a three-month low of 56.2, down from 57.9 in August.

ECONOMICS, PMIS - 11.10.2022

Dubai economy is holding up well amid the global slowdown

Uncertainty around the 2023 outlook has increased however.

ECONOMICS, GCC MACRO - 19.09.2022

MARKETS

Monthly Insights - January

A round up of our publications and forecasts from January 2023

ECONOMICS, MARKETS - 26.01.2023

Oil market conditions to keep OPEC on sidelines

Uncertainty hangs over a price cap on Russian refined exports.

MARKETS, COMMODITIES - 30.01.2023

MONTHLY INSIGHTS

Monthly Insights - November
28.11.2022

Monthly Insights - October
27.10.2022

Monthly Insights - July 2022
28.07.2022

Monthly Insights - June 2022
28.06.2022

Oil prices face a soft start to the year

But conditions in 2023 still support prices moving higher.

MARKETS, COMMODITIES - 06.01.2023

Metals prices will face challenges in H1

China easing Covid rules will be a positive eventually.

MARKETS, COMMODITIES - 04.01.2023

FOMC signals hiking not finished, only slowing down

The FOMC has slowed the pace of its rate hikes but it remains some way off its predicted terminal rate

MARKETS, ECONOMICS - 15.12.2022

OPEC keeps output steady into new year

Supply looks to be flat going into 2023 with demand conditions to drive prices.

MARKETS, COMMODITIES - 05.12.2022

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