Jan 10 Reuters Major stock markets in the Gulf were subdued in early trade on Wednesday as investors were cautious ahead of U.S. inflation data, while geopolitical tensions in the region added to the worries.

Data last Friday showed U.S. employers hired more workers than expected in December, dousing expectations of a rapid easing of interest rates and leading market participants to shift attention to U.S. inflation data due on Thursday for more clarity on the trajectory of borrowing costs.

Expectations the U.S. central bank could begin cutting rates as soon as March have decreased, with the CME39;s FedWatch Tool showing a 65.7 chance for a cut of at least 25 basis points bps for the month, down from 79 a week ago.

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

Saudi Arabia39;s benchmark index eased 0.1, hit by a 1 fall in Al Rajhi Bank and a 0.3 decrease in oil giant Saudi Aramco.

Meanwhile, Saudi Arabian Mining Company advanced 2.2.

The kingdom has created a mineral exploration incentive programme with a budget of over 182 million, the country39;s minister of industry and mineral resources said at an industry event on Wednesday.

Dubai39;s main share index eased 0.1, weighed down by a 0.5 drop in bluechip developer Emaar Properties.

The Qatari benchmark dropped 0.2, with Qatar Islamic Bank losing 0.7 and Commercial Bank retreated 0.7.

Amid the ongoing…