Equiti Group head of research Raed Al-Khader said assurances received from the director of the International Monetary Fund that the US economy is somewhat far from recession are supporting US stock markets.

Al-Khidr added in an interview with Al-Arabiya that most of the latest economic data coming out of America is “positive”, especially employment data.

He explained that the Fed’s minutes would confirm the central bank’s intention to raise the interest rate ceiling, although the pace would be lower, which could give more strength to the US dollar in the coming period.

He said the Fed’s next move will be driven by inflation readings because if inflation falls at a faster pace, it could help the Fed stop the tightening cycle early.

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