Central Bank
Brent oil futures for September delivery shed 0.5 percent to $84.73 per barrel
Fed officials noted that the path toward looser monetary policy has become shorter
Brent futures, the global oil benchmark, rose 32 cents, or 0.4 percent, to $85.40 per barrel
Markets are pricing in a rate cut of at least 25 basis points by the Fed at the September meeting
Reserves increased on a monthly basis by 3.5 percent from AED19.615 billion in March 2024
Fed Chair Powell expressed confidence that inflation is returning to the central bank's target of 2 percent
Brent crude futures fell 21 cents, or 0.25 percent, to $84.64 per barrel
Markets are currently pricing in a 93 percent chance of an interest rate cut in September, according to the CME Fedwatch Tool
The Central Bank has added more than AED176 billion to its foreign assets within a year
Gold prices surged above the $2,400 level after data showed unexpected decline in U.S. inflation
Brent oil futures for September delivery rose 0.1 percent to $85.52 per barrel
