Pre-Trading Thoughts

Egypt's annual urban consumer price inflation eased to 25.7% in July from 27.5% in June. The Central Bank of Egypt is looking to raise some EUR600 million from auctioning off one-year EUR-denominated treasury bills. The hot money outflows last week, triggered by the global markets meltdown, represented no more than 7-8% of foreign investors’ holdings of our debt instruments, Prime Minister Mostafa Madbouly said. Foreign investors sold some USD600 million worth of local debt instru...