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UAE's real GDP grew 3.6 percent, driven by rise in the non-oil sector, particularly in tourism, real estate, and finance
Market focus now shifts to the U.S. core personal consumption expenditures price index data due later today
Brent oil futures for November rose by 0.1 percent to $73.51 per barrel
Market awaits Federal chair Jerome Powell's remarks due later in the day, along with U.S. inflation data due on Friday
The central bank also announced a support package that included a 50-basis-point reduction on average interest rates for existing mortgages
Traders now await Fed chair Jerome Powell’s remarks on Thursday and U.S. inflation data on Friday for further policy cues
Market focus this week remains on Fed members' comments and the release of the U.S. PCE data on Friday
Declining interest rates globally, rising geopolitical tensions in the Middle East and the upcoming U.S. election boost gold to new high
Brent oil futures for November rose 0.5 percent to $74.83 per barrel
The dollar index fell 0.05 percent to 100.56, making gold less expensive for other currency holders
Brent oil futures, set to expire in November, dropped 0.4 percent to $74.60 per barrel
Since June 2023, the CBRT has lifted the interest rate from 8.5 percent to 50 percent, a 4,150 basis point increase
