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Credit balance for the sectors from banks in Abu Dhabi was around $104.76 billion in May 2024
The UAE is one of only 36 countries worldwide currently piloting the implementation of CBDCs
Egypt's inflation rate has declined for the last five months after reaching a record high of 38 percent in September 2023
U.S. dollar declined by 0.15 percent to 103.05, making greenback-priced bullion more affordable for other currency holders
Markets are pricing in a 65 percent chance of a 50 basis point rate cut in September, the CME FedWatch tool revealed
In April 2024, CBUAE's gold reserves reached $5.54 billion
Challenges remain in education, housing, and hotels
Can the Fed intervene to calm global markets?
Japanese stocks rebounded sharply on Tuesday after their biggest single-day decline since the 1987 Black Monday sell-off in the previous session
U.S. unemployment rate rose to 4.3 percent, signaling a possible weakness in the labor market
Gross credit grew 0.7 percent from AED2.063 trillion in April 2024 to $565.47 billion
Traders priced in a 28.5 percent chance of a larger 50-basis-point rate cut in September
Gold prices rose as support for the safe-haven asset strengthened amid the threat of conflict escalation in the Middle East
Data showed that the bank's net foreign assets in June were around SAR1.670 trillion
If the Fed signals the possibility of multiple rate cuts this year, gold prices will likely rally
The Bank of England and the Bank of Japan's policy meetings are also due this week
Brent oil futures expiring in September fell 0.2 percent to $79.63 per barrel
Investors will closely watch the Fed's interest rate decision on Wednesday, with no change in interest rates expected
Brent oil futures expiring in September rose slightly by 0.2 percent to $81.25 a barrel
Egypt's inflation to average around 25 percent in H2 of 2024, down from 31 percent in H1
U.S. economy grew faster than expected in Q2, but inflation pressures eased, maintaining market expectations of a September rate cut
Brent oil futures expiring in September were stable at $82.38 per barrel
If the PCE data reveals that inflation is slowing and the Fed can cut rates in September, gold prices will likely surge
Brent crude futures for September delivery slipped 0.5 percent to $81.26 per barrel
