Pre-Trading Thoughts

Some global investment banks, including Goldman Sachs and Pimco, now think the Federal Reserve will pause on its tightening cycle when it meets next week to prevent the US banking crisis from intensifying. Global investment banks are calling for further depreciation in the EGP and a major rate hike of 200-300 bps. The number of tourists visiting Egypt jumped 34% y-o-y during January and February 2023. Traffic in the Suez Canal recorded yesterday the highest daily r...