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ILS: Shekel Slips But Stays Within Familiar Range

ILS
EM BulletBulletGlobalEmerging Market NewsMiddle EastRegion

The shekel is slightly weaker relative to yesterday's closing levels, with USD/ILS last dealing +63 pips at 3.7568. The currency has been rather resilient in light of escalating geopolitical tensions in the north as Israel's strikes against Hezbollah continue. From a technical perspective, bulls need a clearance of yesterday's high of 3.8034 before taking aim at Aug 6 high of 3.8533. On the flip side, bears keep an eye on Sep 16 low of 3.6986.

  • The Times of Israel reported that the Finance Ministry is "said to have plans for a series of tax changes, including the freezing and lifting of benefits for pension savings and advanced study funds, as it seeks to bring down the large budget deficit and finance the ongoing war with the Hamas terror group in Gaza."
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The shekel is slightly weaker relative to yesterday's closing levels, with USD/ILS last dealing +63 pips at 3.7568. The currency has been rather resilient in light of escalating geopolitical tensions in the north as Israel's strikes against Hezbollah continue. From a technical perspective, bulls need a clearance of yesterday's high of 3.8034 before taking aim at Aug 6 high of 3.8533. On the flip side, bears keep an eye on Sep 16 low of 3.6986.

  • The Times of Israel reported that the Finance Ministry is "said to have plans for a series of tax changes, including the freezing and lifting of benefits for pension savings and advanced study funds, as it seeks to bring down the large budget deficit and finance the ongoing war with the Hamas terror group in Gaza."