When you click on the Text tool, the Properties bar will automatically change to reflect your default text options. The font color will automatically be set at your current fill color, but you can adjust it here--along with the font, the font weight, font size, spacing, kerning, alignment, direction, text type (dynamic, static, or input), rotation, advanced paragraph properties, hyperlinking, hyperlink targets, whether text is rendered as HTML, whether it's selectable, and whether or not the bounding box border shows around it.