Pre-Trading Thoughts

Egypt expects to receive between USD5-6bn [EUR4.6-EUR6.5bn] in funding from the EU under a major 'cash for migrant control' pact which is set to be finalised this weekend. The IMF intends to provide about USD1.5 billion to Egypt within weeks, within the framework of the loan program that was agreed to increase last Wednesday from USD3 billion to USD8 billion. Customers have sold over EGP1.05 bn worth of foreign currency at the National Bank of Egypt’s foreign exchange bureau Al ...