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Egypt’s central bank has kept its key interest rates steady on August 20, marking the fourth consecutive policy meeting without changes. The overnight deposit rate remains at 19%, with the overnight lending rate unchanged at 20%. Meanwhile, the main operation rate and discount rate are both held at 19.5%. These levels have been in place since the bank’s February rate reduction. CBE policy rates remain unchanged as Egypt reports 14.9% annual urban inflation.

Japan posted record monthly values for both imports and exports in July 2026, as higher energy costs and strong technology demand lifted total trade. Imports climbed 27.8% from a year earlier to about 12.15 trillion yen. Exports rose 23.2% to roughly 11.51 trillion yen. The Ministry of Finance reported a trade deficit of 634.5 billion yen because imports grew faster than overseas shipments during the month.

On Wednesday, U.S. equities closed higher, buoyed by a notable drop in long-term Treasury yields which supported market sentiment. The S&P 500 added 16.22 points, or 0.21%, finishing at 7,707.98. The Dow Jones Industrial Average increased by 119.65 points, or 0.22%, ending the session at 53,463.05. The Nasdaq Composite climbed 41.38 points, or 0.16%, to close at 26,331.09. This upward movement marked the end of a three-day losing streak for all three major U.S. indexes.

On Friday, global markets for precious metals showed a downward trend as spot gold prices dipped, pointing towards an overall weekly decrease. Market data revealed that the price of spot gold fell by 0.5 percent to trade at $4,326.75 per ounce. Meanwhile, United States gold futures for December delivery declined nearly 1.0 percent to $4,382.50 per ounce. These declines followed a sharp temporary spike on Thursday, when bullion prices reached their highest levels in over two months before ending the session 1.3 percent lower due to sudden profit-taking.

In July 2026, worldwide electric vehicle sales grew by 9% compared to the previous year, reaching a total of 1.85 million units globally. The cumulative sales for the first seven months reached 11.5 million vehicles, reflecting a 4% increase over the same period in 2025. Europe led major EV markets in July as global electric vehicle demand continued to grow. Europe demonstrated the strongest growth among the world’s key electric vehicle markets during July. Sales in the region climbed 33% from the previous year, reaching approximately 450,000 units. From January to July, EV sales across Europe increased by 28%.

South Korea’s automobile exports climbed 7.0% from a year earlier to US$6.24 billion in July 2026. The figure set a record for the month of July and exceeded the previous July high of US$5.90 billion in 2023. Vehicle production increased 11.3% to about 352,000 units, while local sales edged up 0.5% to 139,000 vehicles. Eco-friendly vehicles accounted for much of the export growth during the month, with their overseas sales value rising 25.5% year on year to US$2.59 billion. North America remained the largest destination for Korean vehicle exports, with shipments rising 18.0% to US$3.25 billion.

Tight inventories and refinery disruptions have kept diesel prices high across both the United States and Europe. In the US, ultra-low sulfur diesel futures increased by 7.4% on Monday to reach $4.19 a gallon, marking the largest single-day rise since July 13. The futures contract was trading close to $4.28 a gallon early Wednesday. Meanwhile, European diesel refining margins stayed notably strong, rising nearly 10% at the start of the week.

Gold continued its upward trajectory for a third consecutive session on Tuesday, extending its recovery from last week’s lows. Spot gold increased by 1% to reach $4,432.74 an ounce by 0217 GMT, hitting its highest point since June 5. Meanwhile, U.S. gold futures jumped 1.7% to $4,492.60. This upward movement pushed prices beyond the seven-week peak established last week and signaled a rebound that gained momentum after weaker U.S. employment figures.

Denmark’s inflation rate for the year declined to 1.7% in July from 1.9% the previous month. According to Statistics Denmark, consumer prices increased by 1.3% compared to June. Price hikes in the hospitality sector, particularly restaurants and hotels, continued to be major contributors to the inflation index. Rent costs alone contributed 0.55 percentage points to the annual inflation rate, making it the most significant positive factor. Service sector prices continue to outpace those of goods, with prices for restaurants and hotels rising by 8.1% from the previous year.

Triodos Bank’s analysis indicates that Europe’s experience with extreme heatwaves and droughts could reduce the European Union’s economic output by approximately 1% in 2026. This estimated decline translates to around €180 billion, occurring amidst a year already characterized by sluggish growth. The European Commission projected in May that the EU’s gross domestic product would grow by 1.1% in 2026. This baseline leaves little room between the expected growth and the economic losses attributed to this summer’s intense weather conditions. Record summer heat is weighing on European productivity, agriculture, energy and transport. (AI-generated image) The primary driver of the projected economic damage is reduced worker productivity during periods of extreme heat. The assessment estimates this impact at about 0.6% of EU GDP. Additionally, agriculture is under significant strain following prolonged periods of heat and drought across key farming regions. The report suggests agricultural production could decline between 3% and 7%. Energy generation, transport networks, and logistics are also affected, as high temperatures and declining water levels hinder normal operations, contributing further to the overall economic toll.