Pre-Trading Thoughts

Egypt's PMI ticked up from 49.6 in May to 49.9 in June, posting only fractionally below the 50.0 mark which separates growth from contraction. Prime Minister held a presser a day after his new Cabinet took office, giving an overview of the new government’s list of priorities and its upcoming plans. These include (1) increasing the private sector’s contribution to the overall economy to more than 65% of total investments over the coming two to three years, (2) investing in Egypt’s industrial d...