Pre-Trading Thoughts

Net International Reserves increased to USD46.126 billion in May, the highest on record, up from USD41.1 billion in April. It is known that the second tranche of the Ras El-Hekma deal funds was received by the Egyptian authorities around mid-May. Ministries of Petroleum and Electricity announced they were extending rolling power blackouts across the country for an extra hour on Tuesday to allow for preventative maintenance on its regional gas and power networks and because of increased consum...