Pre-Trading Thoughts

Trump announced what he said were “kind” reciprocal tariffs against more than 180 countries Wednesday, along with a baseline tariff against other countries. Among the list was Egypt, at a 10% tariff charged. Egypt's non-oil private sector entered contraction territory in March, following improvements in business conditions in January and February. The headline PMI fell from 50.1 in February to 49.2 in March, the lowest reading in three months. In tandem with lower output and new orders, purch...