Pre-Trading Thoughts

The Balance of Payments (BoP) for 2Q2021/22: Overall balance recorded a deficit of USD326 million; Current account deficit was slightly down to USD3.8 billion, as trade deficit went down to USD10.6 billion, mainly as oil exports went up to USD5 billion up from USD2.9 billion; Tourism recorded the highest revenues at USD3 billion, FDI recorded the same level of USD1.6, net portfolio investment recorded an outflow of USD6 billion. Egypt’s Fuel Automatic Pricing Committee (FAPC) raised fue...