Pre-Trading Thoughts

The Monetary Policy Committee left rates unchanged, with the decision supported by cooling global and domestic inflation on the back of lower energy prices and better supply chain conditions. Abu Dhabi National Oil Company (ADNOC), Saudi Petromin, and Emirates National Oil Company (ENOC) are competing for a 20-25% stake in Wataniya. Egypt’s unemployment rate came in at 7.1% in 1Q23, down 0.1 ppts QoQ and YoY. Egyptian Central Depository Company has resumed working on the process of linking wi...