Pre-Trading Thoughts

*Key news articles for today* Prime Minister Moustafa Madbouly is scheduled to hold a privatization press conference today. According to Reuters, shipping companies are rerouting their vessels away from the Red Sea, in response to repeated attacks on shipping by Houthi armed groups in Yemen. 12-month non-deliverable forwards contracts have reportedly fallen 7% since mid-November to a record low of 50.50. According to World Bank, remittances to Egypt declined by 15% YoY in 2023 ...