The structural picture behind today’s tape — pick an indicator to see its five-year path.
| Index | Level | Change |
|---|---|---|
| S&P 500 Jul-15 close; Jul-16 futures -0.7% pre-mkt on semis/Netflix drag | 7,572.40 | +0.38% |
| Dow Jones Jul-15 close; Dow futures -0.6% on Jul-17 open | 52,658.64 | +0.29% |
| Nasdaq Composite Jul-15 close; Nasdaq-100 futures -1.0% pre-market Jul-17 on semis/Netflix | 26,269.23 | +0.62% |
| FTSE 100 Yahoo Finance delayed quote Jul-16 | 10,525.68 | -0.04% |
| DAX Yahoo Finance delayed quote Jul-16 | 25,025.77 | -0.48% |
| CAC 40 Yahoo Finance delayed quote Jul-16 | 8,334.28 | -0.57% |
| Nikkei 225 Yahoo Finance delayed quote; futures pointing lower for Jul-17 | 68,751.51 | +1.49% |
| Hang Seng Yahoo Finance delayed quote Jul-16 | 24,681.10 | +1.40% |
| Index | Level | Change |
|---|---|---|
| EGX 30 Trading Economics Jul-13 close; +55.98% y/y | 52,608 | +0.67% |
| Instrument | Rate / Yield | Note |
|---|---|---|
| Policy corridor | ||
| Overnight deposit | 19.00% | Unchanged Jul-9 MPC (3rd consecutive hold); -825bps cumulative from Apr-2025 peak of 27.25% |
| Overnight lending | 20.00% | Unchanged Jul-9 MPC |
| Main operation | 19.50% | Unchanged Jul-9 MPC |
| Discount rate | 19.50% | Unchanged Jul-9 MPC |
| Treasury bills | ||
| 182-day | ~27–28% range | |
| 364-day | ~26–27% range | |
| Treasury bonds | ||
| Eurobond spread proxy | +170bps avg increase Q1-2026 | |
| Rate | Level |
|---|---|
| United States | |
| Fed funds target on hold | 3.50–3.75% |
| SOFR (overnight) | 3.64% |
| 1-year UST | 3.99% |
| 2-year UST | 4.16% |
| 3-year UST | 4.20% |
| 5-year UST | 4.28% |
| 10-year UST | 4.57% |
| 30-year UST | 5.09% |
| Euro Area | |
| ECB deposit facility | 2.25% |
| ECB main refinancing | 2.40% |
| ECB marginal lending | 2.65% |
| €STR | 2.18% |
| United States (as of Jul-16 close) | |
| Fed funds target Unchanged; FOMC Jul-28/29 meeting expected hold | 3.50–3.75% |
| SOFR overnight Jul-14 publish (NY Fed); prior business day | 3.63% |
| 3-month UST | 3.79% |
| 1-year UST | 3.98% |
| 2-year UST | 4.16% |
| 5-year UST | 4.28% |
| 10-year UST | 4.57% |
| 30-year UST | 5.09% |
| Pair | Rate | Change |
|---|---|---|
| USD / EGP | 50.53 | -0.37% |
| EUR / USD | ~1.083 | n/a |
| EUR / EGP | ~54.7 | n/a |
| GBP / USD | ~1.295 | n/a |
| GBP / EGP | ~65.4 | n/a |
| SAR / EGP | ~13.47 | n/a |
| USD / JPY | ~147 | n/a |
| Commodity | Price |
|---|---|
| Brent · ICE (Jul-16) Down 0.37% on day; +21.7% y/y. US-Iran strikes on Iranian coastline assets drove Brent to $85+ mid-week; paring as talks continue. US crude stocks -1.7 mb last week (EIA). | ▲ $84.63/bbl |
| WTI · NYMEX (Jul-16) Intraday range $78.80–$80.86 per Investing.com; ~$5 discount to Brent. | ▲ $79–81/bbl range |
| Gold · XAU/USD (Jul-15 approx) EGP gold price ~204,333 EGP/oz at ~49.6 EGP/USD implied rate; US real yields near 2008 highs cap upside per Standard Chartered. | ▲ ~$4,050/oz |
(16 Jul) US forces struck Iranian missile storage facilities and launch sites near the Strait of Hormuz in a seven-hour operation, the second such strike in three days. Iran warned it would 'crush' key regional targets if Trump follows through on threats to hit Iranian civilian infrastructure. Markets have embedded a meaningful geopolitical risk premium in energy prices, with Brent holding near $85/bbl despite pressure from diplomatic back-channels.
Read full article → Schwab Market Update · CNBC · TradingEconomics · TheStreet(16 Jul) Taiwan Semiconductor Manufacturing reported a 77% annual earnings gain, only for shares to fall more than 4%, dragging the Philadelphia Semiconductor Index lower for the second time in three sessions. Netflix earned $0.80/share on revenue of $12.56 bn — broadly in line — but shares tumbled over 8% after-hours as investors found insufficient upside surprise. The Nasdaq-100 fell 1.6% on the day and futures pointed down a further 1% heading into 17 Jul.
Read full article → Schwab · CNBC(14 Jul) US consumer prices rose 3.5% in June on an annualised basis, below economists' consensus forecast of 3.8%. The softer print temporarily boosted semiconductor stocks and pushed the S&P 500 +0.38% on 14 Jul. Markets have largely priced in one further 25bp hike in 2026, but Tuesday's CPI data reduced some of that urgency, with the FOMC July 28–29 meeting now expected to hold.
Read full article → Yahoo Finance · CNBC(11 Jun / updated 16 Jul) The European Central Bank lifted its deposit facility rate to 2.25% on 17 June 2026, its first hike since 2023, citing surging energy costs tied to the Iran conflict and revised inflation forecasts of 3.0% for 2026. Markets currently price a 93% probability of no change at the 23 July meeting, though a 70% chance of a September hike has emerged after fresh oil price gains from renewed US-Iran strikes.
Read full article → TradingEconomics · ECB Watch · De Nederlandsche Bank(16 Jul) US June retail sales came in below consensus, adding to a complex backdrop that includes stronger-than-expected bank earnings alongside weakness in semiconductors and streaming. Treasury yields rose modestly, with the 10-year UST reaching 4.57%, as continued US-Iran military operations and elevated crude oil kept inflation risk premia elevated.
Read full article → Schwab · StreetStatsEgypt macro, the external accounts and the EGX listing pipeline in focus — sourced from economyplusme, CBE, IMF and Enterprise.
(16 Jul) Egypt's net international reserves reached $55.072 bn at end-June 2026 — a record and the first time above $55 bn — the CBE announced on 8 Jul. Prime Minister Madbouly said reserves rose about $2 bn in a single month, calling it 'a good indicator of the stability of the Egyptian economy.' Economists noted the record reflects a deliberate policy of allowing the pound to absorb external shocks and that Gulf deposits at the CBE have also bolstered buffers.
Read full article → The National · Global Business Outlook · CBE(9 Jul) Egyptian workers abroad remitted approximately $43.1 bn in the 11 months to end-May 2026, the highest cumulative total in Egypt's history, the CBE said on 9 Jul. The surge — roughly 30% above the same period in FY24/25 — was driven primarily by GCC-based Egyptians channelling more funds through formal banking after the black market was eliminated. May alone recorded ~$4 bn, nearly 13% above May 2025.
Read full article → AGBI · CBE(9 Jul) The Monetary Policy Committee kept the overnight deposit rate at 19%, lending at 20%, and main operation/discount rates at 19.5% at its fourth 2026 meeting. The MPC cited 'ongoing global uncertainty' and geopolitical risks from the Iran conflict. Headline inflation slowed to 14.3% in June — the lowest since before the Middle East conflict escalated — but the CBE's Q4-2026 target of 7% (±2pp) remains at risk from elevated oil prices and potential second-round effects.
Read full article → Egypt Today · TradingEconomics · CBE(16 Jul) A staff-level agreement between Egypt and the IMF reached in June could unlock approximately $1.6 bn in additional funding and extend Egypt's EFF arrangement to December 2026. The deal awaits formal IMF Board approval. Egypt has met prior quantitative targets on NIR and tax revenues, while the primary surplus reached 3.5% of GDP in FY25. Public debt declined to 82.5% of GDP at end-FY25, though interest payments remain high at 10.6% of GDP.
Read full article → The National · Global Business Outlook · World Bank · IMF(16 Jul) The Suez Canal Economic Zone reported record revenue for FY2025-2026, according to a report from Ports Europe published 16 July. Finance Minister Kouchouk had previously highlighted an increasing number of companies operating in the SCZone at the Capital Markets Summit. This comes even as the canal's transit fees remain suppressed relative to pre-Houthi levels, with the IMF noting a faster normalisation of canal activity could provide material upside to Egypt's fiscal and external positions.
Read full article → NewsNow/Ports Europe · Egypt Today · IMF(16 Jul) Economists warned 16 Jul that elevated Brent prices (~$84-85/bbl), driven by US-Iran strikes near the Strait of Hormuz, are intensifying pressure on Egypt's energy import bill especially during peak summer demand. The government retained fuel price increases introduced in March. The CBE's inflation forecasts for 2026 have already been revised to 16-17% average from an earlier 11%, with upside risks if conflict persists. Egypt remains 'at the mercy of geopolitics,' one economist said.
Read full article → The National · TradingEconomics · CBE Q1 MPR(Jul 2026) Egypt's preliminary real GDP growth for Q1-2026 (Jan-Mar) came in at 5.0% y/y, easing from 5.3% in Q4-2025. Industrial production plus Suez Canal revenues grew more slowly than in the prior quarter, while goods exports and natural gas output contracted. The CBE expects the full FY25/26 average at ~5.1%, up from 4.4% in FY24/25, though Q2-2026 faces headwinds from the Iran energy shock and non-oil PMI remaining contractionary.
Read full article → FocusEconomics · CBE · World Bank(12 Jul) The CBE published the Balance of Payments for July–March FY2025/26 on 12 July, showing a widening current-account deficit primarily from a larger trade shortfall and reduced services surplus, partially offset by rising remittances. Egypt's current account deficit had more than doubled to $5.1 bn in Q1-2026 from $2.3 bn a year earlier, with debt servicing consuming 83% of tax revenues. FDI rose ~33% to $13 bn in the first nine months of the fiscal year.
Read full article → CBE · The National · Global Business Outlook(17 Jul) Egypt's Financial Regulatory Authority (FRA) is set to launch a specialised training programme within days aimed at preparing state-owned companies for listing, according to Daily News Egypt on 17 Jul. The initiative is part of Egypt's broader privatisation push and IPO pipeline acceleration. The EGX 30 has gained roughly 25% in the benchmark index year-to-date, providing a supportive backdrop for new listings.
Read full article → Daily News Egypt(17 Jul) Talaat Moustafa Group announced plans to expand its hotel portfolio to up to 40 properties over the next decade as part of a strategic growth plan in Egypt's tourism and hospitality sector. Separately, Gulf Egypt for Hotels and Tourism (URC subsidiary) unveiled a mixed-use development plan. Tourism remains one of Egypt's key hard-currency earners alongside remittances and Suez Canal revenues.
Read full article → Daily News Egypt(17 Jul) Egypt advocated for stronger central bank cooperation and expanded use of local currencies in trade at the BRICS summit, according to Daily News Egypt on 17 Jul. The BRICS declaration pushed for reformed multilateralism and a greater Global South role. Egypt's pivot toward de-dollarisation in bilateral trade — particularly with Russia and China — has gathered momentum in 2026 amid IMF programme reform milestones.
Read full article → Daily News Egypt(16 Jul) Prime Minister Madbouly reviewed proposed government investment estimates for the FY2026/27 fiscal year economic and social development plan, and directed the ministerial economic group to update comprehensive scenarios for handling the economic fallout of military operations involving the US, Israel, and Iran. Rising oil prices from the Iran conflict are increasing Egypt's import bill and adding fiscal pressure, particularly over peak summer electricity demand.
Read full article → Egypt Today