April 16 Reuters Most stock markets in the Gulf ended lower on Tuesday after strongerthanexpected U.S. retail sales reinforced the view the Federal Reserve may not rush to cut interest rates this year.

Data last week had already shown U.S. consumer prices increased more than expected in March as Americans paid more for gasoline and rental housing, leading financial markets to anticipate the Fed would delay cutting rates until September.

Most Gulf currencies are pegged to the dollar and any monetary policy change in the United States is usually mimicked by Saudi Arabia, the United Arab Emirates and Qatar.

Saudi Arabia39;s benchmark index dropped 1.6, with most of its constituents in negative territory, including Al Rajhi Bank, which was down 2.9.

Among other losers, oil giant Saudi Aramco retreated 1.3.

Investors remained cautious about Israel39;s response to a weekend drone and missile attack by Iran as international pressure for restraint grew amid fears of an escalation of conflict in the Middle East.

Dubai39;s main share index lost 1.4, dragged down by a 1.7 drop in top lender Emaar Properties.

The Dubai bourse breached the support level it had held for the past month, affected by both geopolitical tensions and heightened inflationary pressures in the United States. The market may continue its downward trajectory if these pressures persist, said Joseph Dahrieh, managing principal at Tickmill.

However, the upcoming IPO of Spinneys could positively influence the…