Hermes Says Still Reads Market As Trading Without Direction In Ramadan

In its short term update, EFG-Hermes said that it still reads the market as trading without direction, sideways, as usual in Ramadan.

“We are using any positive news on the prime minister nomination as profit taking. Market sideways might be between the July 12th high [4852 +1%] and July 9th low [4633 -1%],” the investment group added.