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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI ASIA MARKETS OPEN: Tsy Curves Reverse Course Ahead Wed CPI
MNI ASIA MARKETS ANALYSIS:Waiting For Next Inflation Shoe Drop
Key Inter-Meeting Fed Speak – Dec 2024
US TREASURY AUCTION CALENDAR: Avg 3Y Sale
Refreshing Cyclical Lows Ahead Of Israeli CPI
Spot USD/ILS yesterday pierced resistance from Jun 2 cycle high of 3.7551, before staging a more convincing break above that level today and rallying as high as to 3.7755. This upswing has now lost steam, however, with the pair trimming gains to last deal +25 pips at 3.7569.
- Technically, trend conditions remain bullish. A break above the 3.80 figure would open up Mar 17, 2020 high of 3.8894. Conversely, bears keep an eye on 3.6258, he low print of Aug 2, followed by the 200-DMA at 3.5790.
- Globes pointed to "the low trading volumes in August and the demand for dollars" as factors facilitating the shekel's depreciation alongside well-documented jitters in global financial markets.
- For the record, Fitch affirmed Israel at A+ with a stable outlook yesterday and delivered a relatively limited warning on the consequences of the country's controversial judicial overhaul.
- The focus turns to Israel's July CPI figures, which are due for release at 16:30BST/18:30IDT.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.