DUBAI: Stock markets in the Gulf ended higher on Thursday, as rising expectations of an end to the US Federal Reserve’s rate hike cycle boosted risk appetite.

US retail sales fell in October, though by less than expected, after months of strong gains, pointing to slowing demand that could further strengthen expectations that the Federal Reserve is done hiking interest rates.

Monetary policy in the six-member Gulf Cooperation Council (GCC) is usually guided by the decisions of the US Federal Reserve, as most regional currencies are pegged to the dollar.