Pre-Trading Thoughts

The Federal Reserve held interest rates steady in a targeted range between 5.25%-5.5%, while also indicating it still expects one more hike before the end of the year and fewer cuts than previously indicated next year. Cabinet gave the go-ahead to the emergency social support measures aimed at alleviating the impact of the economic crisis on vulnerable households. Ministers approved handing the Egyptian Natural Gas Company (GASCO) a golden license for its USD380 mn project to expand its gas c...