Pre-Trading Thoughts

Prime Minister has met with some of the world’s largest asset managers, explaining the government’s privatization plans and promoting the Egyptian economy. The local FX rate weakened yesterday to 18.74/USD. Projected Inflation figures for May are12.8% YoY (+0.5% MoM), as increases in food items slow down. Ministry of Trade has extended by three months its March ban on exports of wheat, flour, corn, lentils, pasta, fava beans, and vegetable oils. There are negotiations between Russ...