Nov 8 Reuters Most stock markets in the Gulf ended lower on Wednesday as traders waited to see if U.S. Federal Reserve chief Jerome Powell will push back against ratecut talk when he speaks later in the day.

Financial markets reckon the Fed is now done with its most aggressive monetary tightening cycle in decades, and investors have ramped up bets for rate cuts next year since Friday39;s key U.S. jobs data showed some signs of slowing.

Powell speaks on Wednesday and Thursday.

Monetary policy in the sixmember Gulf Cooperation Council GCC is usually guided by Fed decisions as most regional currencies are pegged to the U.S. dollar.

Saudi Arabia39;s benchmark index eased 0.2, with Arabian Internet and Communications Services losing 2.4 and Saudi National Bank falling 1.4.

The Saudi stock market continued to trade in a range over the last couple of days after recovering to a certain extent, said George Pavel, General Manager at Capex.com Middle East.

The direction in oil markets as well as crude production cuts could continue to weigh on sentiment.

Oil prices a key catalyst for the Gulf39;s financial markets  remained under pressure after sliding to their lowest in more than three months in the previous session, slipping further on concern over waning demand in the United States and China.

Dubai39;s main share index dropped 0.6, weighed down by a 2 drop in bluechip developer Emaar Properties.

The Dubai bourse recorded some price corrections after a series of gains,…