inflation
In five days, the Federal Reserve will meet to decide on whether to cut interest rates this month
Traders currently expect a 98.6 percent chance that the Fed will cut rates by 25 basis points
Inflation data could help set market expectations for the Fed's 2025 policy
Headline inflation climbed to a record high of 38 percent in September 2023 after falling to 26.5 percent in October
Traders currently see an 89.5 percent chance of a Fed rate cut this month
The number of oil and gas rigs deployed in the U.S. last week hit the highest since mid-September
Strong central bank buying, monetary policy easing and geopolitical tensions have driven gold prices to multiple record highs this year
Markets currently see a 70.1 percent chance of a 25-basis-point cut by the Federal Reserve in 12 days
Fed Chair Jerome Powell said on Wednesday the U.S. economy is stronger than the central bank expected in September
UAE's economy is set to grow from 3.7 percent in 2024 to 4.5 percent in 2025
Powell is scheduled to speak later in the day, likely marking the last public remarks before the Fed's December meeting
