Pre-Trading Thoughts

Unemployment rate inched up to 7.1% in 3Q23. The European Union is said to be mulling a package of investment in Egypt that could clock in at nearly USD10 billion in sectors including digital, energy, agriculture and transport. Afreximbank is looking to extend USD11 billion in credit facilities to a number of Egyptian companies. The EGP weakened to a record low against the greenback in the parallel market yesterday, at more than 50.0 per USD. On the other hand, NDF contracts have...