Pre-Trading Thoughts

*Key news articles for today* Net foreign assets in Egypt’s banking sector (including CBE) dropped to USD5.96 bn in November, down from USD9.2 bn in October, marking a sharper monthly decline of 35.2%. This is the second consecutive monthly drop as pressure on foreign currency resources increases. This decline was attributed to the worsening deficit in the net foreign assets of commercial banks. Egypt's PMI fell to 48.1 in December, down from 49.2 in November, marking the sharpest decli...