Pre-Trading Thoughts

Annual urban inflation retreated to 13.2% YoY in June down from 13.5% in May, as food & beverages item recorded a slower annual increase, 22.3%, and a decline by 1.8% MoM. Trade deficit dropped in April by 53% YoY to USD1.70 billion. The value of exports increased by 54.2% to USD4.94 billion, while imports decreased by 2.7% to USD6.64 billion. Egypt's PMI fell to 45.2 in June from 47.0 in May. Egypt is preparing to launch more than 20 green projects in five sectors during COP27, wit...