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Investors are now awaiting the non-farm payrolls report on Thursday, which is expected to show an addition of 110,000 jobs in June
When asked whether July was too soon for a rate cut, Powell responded that he "can't say"
Rising tariffs and inflation pose significant risks to economic stability in the coming years
Economic policies effectively managed inflationary pressures, contributing to stability in the region
The U.S. dollar fell to its lowest level since March 2022, making gold less expensive for holders of other currencies
In the Asian stock market, Japan’s Nikkei rose 0.3 percent and Taiwan’s benchmark climbed 1.09 percent
Real GDP growth is projected to rise from 2.4 percent in FY2023/24 to 3.8 percent in FY2024/25, then to 4.2 percent and 4.6 percent in FY2025/26 and FY2026/27, respectively, according to World Bank projections
Market rates, such as the Turkish Lira Overnight Reference Rate (TLREF), have also aligned in the 46 percent range
A stronger dollar and prospects of fewer U.S. interest rate cuts weighed on investor sentiment this week
After keeping interest rates in the 4.25-4.50 percent range, Fed policymakers signaled that rate cuts are still likely to happen in 2025
Gulf economies show strong non-oil growth in 2024, but key indicators highlight the depth and sustainability of diversification efforts
Non-oil sectors in the GCC are forecast to grow 4.1 percent this year, supported by strong domestic demand
