Aug 21 Reuters Most major stock markets in the Gulf rose in early trade on Wednesday as investors awaited U.S. economic data and speeches from policymakers that are expected to make the case for rate cuts.

Preliminary revisions to U.S. labour data are due later on Wednesday and a large downward revision is expected, which would support cutting interest rates. U.S. and global purchasing managers39; index surveys are due on Thursday.

Federal Reserve Chair Jerome Powell39;s speech on Friday at the Jackson Hole economic symposium will be parsed for any hints on the likely size of a rate cut next month.

Interest rate futures have priced in a 25 basis point U.S. rate cut next month, with a 13 chance of a 50 bp cut. Almost 100 bps in cuts are priced in for this year, and another 100 bps next year. FEDWATCH

Monetary policy in the sixmember Gulf Cooperation Council is usually guided by the Fed39;s decisions as most regional currencies are pegged to the U.S. dollar.

Saudi Arabia39;s benchmark stock index gained 0.4, with aluminium products manufacturer Al Taiseer Group rising 0.8 and Al Rajhi Bank advancing 2.1. However, oil giant Saudi Aramco fell 1.6.

Oil prices a catalyst for the Gulf39;s financial markets  slipped on estimates showing swelling U.S. crude inventories and expectations that tensions in the Middle East were easing following a tour of the region by mediators.

Dubai39;s main share index edged 0.1 higher, helped by a 2.4 rise in Emirates Central Cooling…