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Shekel Back To Unchanged Levels, 50-DMA Withstands Pressure

ILS

USD/ILS is back to virtually neutral levels after an earlier downswing allowed it to pierce its 50-DMA (ILS3.6256). The rate last changes hands at ILS3.6373 and a breach of that moving average would encourage bears. On the flip side, bulls look for a rebound towards Apr 12 high of ILS3.6934 and Mar 20 high of ILS3.7130.

  • Israel's trade deficit narrowed to $2.430bn in March from the revised $2.885bn. The shortfall was smallest since November 2020. Meanwhile, industrial output jumped 4.2% M/M in February after a revised 2.1% contraction in January.
  • During his visit to the country, Florida Governor and presumptive Republican presidential hopeful Ron DeSantis said that the U.S. shouldn't "butt into" Israel's judicial overhaul debate.
  • Israeli participants return to desks after the Independence Day closure, with the local weekend starting tomorrow.
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