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ILS: Shekels Shows Resilience After Defence Minister's Exit

ILS
EM BulletBulletGlobalEmerging Market NewsMiddle EastRegion

USD/ILS sold off this morning and the shekel remains among the top five currencies out of all tracked by Bloomberg. The rate last operates at 3.7386, down 135 pips on the session. Bears look for further losses past Oct 30 low of 3.6989 and towards Sep 26 low of 3.6792.

  • Global market sentiment has been defined by headlines noting that Donald Trump was set to return to the White House in the wake of the election. The greenback continues to outperform but the BBDXY Index has now given away some gains, with Bloomberg citing trader sources who pointed to profit-taking by hedge funds.
  • The shekel has been resilient despite protests held across Israel in reaction to the abrupt sacking of Defence Minister Yoav Gallant. Prime Minister Netanyahu said that his decision was dictated by the lack of mutual trust over the management of the ongoing war.
  • The TA-35 Index has rallied by 0.8%, hitting new record highs (2,240), bolstered by broader positive sentiment in equity markets.
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USD/ILS sold off this morning and the shekel remains among the top five currencies out of all tracked by Bloomberg. The rate last operates at 3.7386, down 135 pips on the session. Bears look for further losses past Oct 30 low of 3.6989 and towards Sep 26 low of 3.6792.

  • Global market sentiment has been defined by headlines noting that Donald Trump was set to return to the White House in the wake of the election. The greenback continues to outperform but the BBDXY Index has now given away some gains, with Bloomberg citing trader sources who pointed to profit-taking by hedge funds.
  • The shekel has been resilient despite protests held across Israel in reaction to the abrupt sacking of Defence Minister Yoav Gallant. Prime Minister Netanyahu said that his decision was dictated by the lack of mutual trust over the management of the ongoing war.
  • The TA-35 Index has rallied by 0.8%, hitting new record highs (2,240), bolstered by broader positive sentiment in equity markets.