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OPEC reported that the housing, utilities, and fuels sector rose to 6.7 percent YoY in June, up from 6.6 percent in May
Gold prices will likely see additional support if a softer U.S. inflation report is released, raising hopes for a larger rate cut
Progress on inflation could support gold prices to retest a new all-time high once more
CBRT governor cited $26.5 billion increase in reserves, 50 percent target for lira deposits amid global volatility
The country’s annual urban consumer price inflation slid to 25.7 percent in July from 26.5 percent in June
Markets are now pricing in a 55 percent chance of a 50-basis-points cut in September with bets on an additional cut in December
Egypt's inflation rate has declined for the last five months after reaching a record high of 38 percent in September 2023
Challenges remain in education, housing, and hotels
Gold prices rose as support for the safe-haven asset strengthened amid the threat of conflict escalation in the Middle East
Investors will closely watch the Fed's interest rate decision on Wednesday, with no change in interest rates expected
Egypt's inflation to average around 25 percent in H2 of 2024, down from 31 percent in H1
U.S. economy grew faster than expected in Q2, but inflation pressures eased, maintaining market expectations of a September rate cut
