Pre-Trading Thoughts

Foreign reserves inched up to USD34.2 billion in January from USD34 billion the previous month Activity in Egypt’s non-oil private sector contracted for the 26th consecutive month in January. The PMI reading fell to 45.5 in January from 47.2 a month before. Policymakers consider amending capital gains tax rules in response to the current exchange-rate volatility. Capital gains tax on gains from stock trades made by resident investors in fiscal year 2022 would not be due until after the new ta...