Jerome Powell
Investors are watching closely to see whether Powell emphasizes support for the labor market or prioritizes inflation risks
A spike in the prices of certain items contributed to a 3.5 percent annualized rise in consumer inflation in June
When asked whether July was too soon for a rate cut, Powell responded that he "can't say"
The Fed held the benchmark overnight rate steady in the 4.25-4.50 percent range
The Fed has held its policy rate in the 4.25-4.50 percent range since December
So far this year, gold has recorded 16 record highs, four of which were above the $3,000 milestone
The UAE central bank has also decided to maintain the Base Rate applicable to the Overnight Deposit Facility (ODF) at 4.40 percent
In the last week, the world's largest cryptocurrency lost 0.10 percent of its value
Powell is scheduled to speak later in the day, likely marking the last public remarks before the Fed's December meeting
Market awaits Federal chair Jerome Powell's remarks due later in the day, along with U.S. inflation data due on Friday
Markets now await the release of the U.S. PCE data, the Federal Reserve's preferred measure of inflation, on Friday
