Pre-Trading Thoughts

Egypt’s PMI climbed from 46.4 in July to 47.6 in August, its highest reading since February. The latest rise in input costs was much softer than in July, supporting a slower uplift in output prices that should ease the burden on consumers over the coming months. Subsequently, new orders decreased at the softest rate since April, leading to a slower, but still sharp fall in output levels. Employment rose at the quickest rate since October 2019. Monetary policy uncertainty, a weakening exchange...