Search
EN Down
Language
Hi, user_no_name
Live Chat

Shekel

 

Israeli shekel, stocks to post first weekly gain since Hamas attack 

Israeli stocks appeared poised on Friday to register their first weekly gain since the Hamas attack on October 7. The TA-35 equity index recorded a 1.4% increase on Thursday, extending its weekly rise to 4.5%. The New Israeli Shekel also strengthened by 0.5%, pushing below 4 per dollar and approaching its highest closing level since October 13. 

Despite the recovery, the shekel remains over 3% weaker against the dollar than when hostilities commenced on October 7, while stocks have faced a decline of over 8%. 

The Bank of Israel, having unfolded a $30 billion forex reserve sale program several weeks ago, remains on guard to rein in excessive moves. U.S. Secretary of State Antony Blinken arrived in Tel Aviv for talks on Friday, saying ahead of his trip that Washington is “determined to deter any escalation” in the nation’s war with Hamas.   

 

Calculate your Forex margin

Calculate your hypothetical required margin for a Forex position, if you had opened it now..

Category

Majors Search
Majors
Minors
Exotics

Instrument

Search
Clear input

Bid

Ask

Account Type

Direction

Quantity

Amount must be equal or higher than

Amount should be less than

Amount should be a multiple of the minimum lots increment

USD Down

Leverage

-

Required Margin

$-
Required margin is displayed in instrument currency

Required Margin

$-
Required margin is displayed in selected account currency

Current conversion price:

-
Start Trading

Past performance is not a reliable indicator of future results.

 

USD decline: Dollar slides on weak employment data 

The U.S. dollar fell to its lowest level since September on Friday, after data showed the world’s largest economy generated fewer jobs than anticipated in the previous month. This reinforced the belief that the Federal Reserve is likely to extend its pause on interest rate hikes at its December meeting, despite keeping the door open for further monetary contraction at its announcement this week. 

The DXY dollar index dropped to 105.19, trading 0.88% down on the day, as per MarketWatch data. 

 

Israel economy forecast: JPMorgan sees 11% contraction in Q4 2023  

The war has led to a sudden slowdown in economic activity, with investment bank JPMorgan Chase & Co. recently projecting a potential 11% year-on-year contraction in Israel's economy for the last quarter of 2023.  

Options markets have indicated elevated levels of bearish bets against the shekel — the additional cost of protecting against the currency's depreciation in the upcoming month, compared to hedging against its appreciation, has risen to 1.7%, according to risk reversal data cited by Bloomberg.  

While Israel continues with what it terms the “second phase” of the conflict, involving an expanded ground offensive in Gaza, emerging market stocks are up 3% so far this week after two straight declines as investors reprice odds of Fed hikes and assess fallout from the conflict in the Middle East. Emerging market currencies are on track for a 1% weekly gain — the most since July, as highlighted by Bloomberg. 

At the time of writing on Friday, the USD to ILS rate stood at 3.9331, with the shekel having gained close to 1.25% against the dollar on the day. 

When considering foreign currency (forex) for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss.     

Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice. 

Latest news

Investors move on small cap stocks as June US inflation unexpectedly soft

Friday, 12 July 2024

Indices

Investors rotate into small caps on soft June US inflation

US earnings season kicks off, ECB expected to hold rates steady

Thursday, 11 July 2024

Indices

Week ahead: US earnings season kicks off, ECB hold expected

Bank of England policymakers suggest BoE may not cut rates in August

Thursday, 11 July 2024

Indices

Bitter pill for Bank of England August rate cut bets

exchange traded fund etf business financial

Wednesday, 10 July 2024

Indices

10 Active ETFs in 2024

Live Chat