Egypt’s IMF Deal Secures $8 Billion Loan after Currency Crisis and Rate Hike

Key Takeaways 💸 Egypt secured an expanded $8 billion deal with the IMF, along with an additional $1.2 billion for environmental sustainability 📉 The currency weakened significantly to beyond 50 Egyptian pounds to the dollar after the central bank unshackled its currency 📈 Expectations of hard currency inflows from investment projects, like a $35 billion … Read more

Gold and Bitcoin React to Powell Speech: Currency Market Calm Before the Storm

Key Takeaways 💵 The U.S. dollar softened as traders awaited Federal Reserve Chair Jerome Powell’s testimony and the European Central Bank’s policy announcement. 📈 Bitcoin resumed its rally but stayed below the previous day’s record high. 📉 Lack of major catalysts kept the dollar under pressure after U.S. services industry growth slowed last month. 💱Read more