Methodology

Market Wraps Methodology

How The Edge’s market wraps are prepared

The Edge publishes five market wraps across each trading week, in English and Arabic: the Middle East wrap on the Gulf’s Sunday-to-Thursday week, after the Gulf, Egyptian and Jordanian closes, and the Asia, Europe, Commodities and United States wraps Monday to Friday, each after its region’s close or settlement windows. The Week Ahead opens each weekend, published on Friday or Saturday. Times attached to The Edge’s own readings are stated in GMT; a source’s own stated local time may appear alongside where it defines the figure.

Where the figures come from

Every figure is read at its originator or, where stated, taken from a market data feed. Gulf, Egyptian and Jordanian closes come from the exchanges’ own pages: Saudi Exchange, Boursa Kuwait, Qatar Stock Exchange, Abu Dhabi Securities Exchange, Dubai Financial Market, Muscat Stock Exchange, Bahrain Bourse, Amman Stock Exchange and The Egyptian Exchange. European closes come from each exchange or index administrator: Euronext, Deutsche Boerse, the London Stock Exchange, Borsa Italiana, BME, SIX, and STOXX, whose index values are taken from the official closing dissemination. United States and most Asian closes are market data feed values read after each market’s close, with named exceptions read at the source itself: India’s Nifty 50 is the National Stock Exchange of India’s own closing value. The Treasury yield table is the United States Treasury’s own daily par yield curve, derived from indicative bid-side quotations at or near 19:30 GMT in US summer time and 20:30 GMT in winter; the day-on-day changes are The Edge’s own subtraction of the Treasury’s two daily rows. In the Middle East wrap, named index movers, each market’s overall turnover in its own currency and market breadth come from the exchanges’ own pages, carried only where the exchange itself prints them that day; in the Asia, Europe and United States wraps, named stock moves are reported from named news agencies’ own reports, with turnover and breadth added on the same first-hand basis where available.

Closes, snapshots and settlements

Gulf, Egyptian, Jordanian and European figures labelled closes are the exchanges’ or administrators’ own closing values; United States closes are read after the close and checked again shortly afterwards. Commodity and currency rows inside the Asia, Middle East and Europe wraps are intraday snapshots taken together at one stated GMT time, not settlements; where a snapshot’s change is measured against the previous settlement, the move runs from settlement to snapshot. The Commodities Wrap’s tables are evening levels taken after the exchanges’ settlement windows, measured against the prior day’s settlements; where an exchange’s settlement or a wire’s written settlement report has been published, those settlement figures are quoted alongside. The United States wrap carries that evening’s commodities table unchanged, on the same stated basis, with the day’s written settlements quoted in the text where published. A value published before its exchange’s dated record is available is labelled provisional and is updated to the official figure. Futures rows carry their contract month as the source displays it.

How changes are computed

Each change is measured against the previous session’s close as published in the relevant Edge wrap, so every figure chains to our own published record, and runs and streaks are counted from that record. Where an exchange publishes its own daily change, the exchange’s figure is carried.

Tables

Index tables run as a gainers table and a losers table, each ranked by change; on a day when every index moves the same way, the pair becomes a split by depth of move, and a side with fewer than two entries may run as a single bold line instead of a table. Sector tables in the Europe and United States wraps show the top three and bottom three sectors by change, with every omitted sector named, with its value, beneath the table. The Asia, Middle East and Europe wraps carry a fixed commodities and currencies table of the same eight rows in the same order, gold, silver, Brent, WTI, the dollar index, euro, sterling and yen, a deliberate exception to ranking, so a returning reader finds each row in the same place; on Sunday, when those markets do not trade during the Gulf session, the Middle East wrap omits it. The United States wrap instead carries the evening’s four-row commodities table from the Commodities Wrap and one merged instruments table, the VIX, bitcoin, the dollar index and the euro, sterling and yen pairs, taken at one moment. The Commodities Wrap runs four ranked boards: energy, metals, agriculture, and rates, currencies, volatility and crypto.

Carried tables

Later wraps reproduce the day’s earlier Edge tables whole and unchanged: the Middle East wrap carries Asia; Europe carries Asia and the Middle East; the United States wrap carries Asia, the Middle East and Europe, plus the evening’s commodities table. On Friday, when the Gulf’s Sunday-to-Thursday markets are closed, the Europe and United States wraps carry Thursday’s Middle East table together with the United Arab Emirates’ Friday table; Dubai and Abu Dhabi trade on Friday, their closes are published inside that day’s Asia wrap, and they are carried onward as the region’s latest. On Sunday the Middle East wrap carries Friday’s Asia, Europe and United States tables. Each carried table’s note says what it carries and from where.

Official exchange rates

The Middle East wrap carries the Central Bank of Kuwait’s official reference dollar rate with its value date, standard two-day settlement, and the Central Bank of Egypt’s average market rate series; the CBE publishes a separate official-rate series.

The Week Ahead

The Week Ahead lists scheduled releases only, each date read on the schedule published by the body that will publish the number; nothing is dated from habit or second-hand reports.

Rounding

Exchange closes are shown as the exchange prints them; feed instruments keep one consistent style per instrument across every wrap, with the US Dollar Index at two decimals.

Corrections

A genuine error is corrected with a dated note on the article. A value published on a stated provisional basis is updated to the official final without a note.

Languages

The Arabic edition carries the same figures, tables and structure as the English.

Scope of this page

This page describes The Edge’s general approach, for information only. Methods, sources, timings, table forms and coverage evolve, and may be refined, extended or departed from at any time without notice, including where a source changes what it publishes or market conditions require; this page may not capture every case. It forms part of no contract and creates no obligation, representation or warranty; nothing on this page or in the wraps constitutes investment, financial, legal or tax advice. The site-wide disclaimer applies to this page and to every wrap, and, to the fullest extent permitted by law, The Edge for Economic Consultancy Company W.L.L. and its employees accept no liability arising from reliance on this page or on the wraps.