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ILS: Shekel Loses Ground, Focus On Geopolitics & Revised Judicial Overhaul Plan

ILS
EM BulletBulletEmerging Market NewsMiddle East

USD/ILS has moved higher and last deals at 3.6691, with Israeli markets already closed for the weekend. The rate has moved through the 50-DMA (3.6649) and bulls look for continued gains towards Dec 30 high of 3.7064.

  • Bloomberg quoted Defence Minister Israel Katz as saying that Hamas will face a "total defeat" in Gaza if a ceasefire/hostage deal is not reached by the time Donald Trump takes office on January 20. Katz added that he asked military commanders to draw up plans to defeat Hamas.
  • Yoav Kisch will likely head Israel's delegation for the 80th anniversary of the liberation of Nazi German Auschwitz concentration camp in Poland, even as the government in Warsaw adopted a resolution granting Prime Minister Netanyahu safe passage if he chooses to visit, despite the obligation to arrest him under the arrest warrant issued by the International Criminal Court.
  • Outside of geopolitics, Justice Minister Yariv Levin and Foreign Affairs Minister Sa'ar outlined a slightly softened judicial overhaul plan. The spirit of the reform that sparked widespread protests in 2023 would be preserved, but the proposal involves some minor concessions. Opposition leaders are yet to offer their view on the proposal.
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USD/ILS has moved higher and last deals at 3.6691, with Israeli markets already closed for the weekend. The rate has moved through the 50-DMA (3.6649) and bulls look for continued gains towards Dec 30 high of 3.7064.

  • Bloomberg quoted Defence Minister Israel Katz as saying that Hamas will face a "total defeat" in Gaza if a ceasefire/hostage deal is not reached by the time Donald Trump takes office on January 20. Katz added that he asked military commanders to draw up plans to defeat Hamas.
  • Yoav Kisch will likely head Israel's delegation for the 80th anniversary of the liberation of Nazi German Auschwitz concentration camp in Poland, even as the government in Warsaw adopted a resolution granting Prime Minister Netanyahu safe passage if he chooses to visit, despite the obligation to arrest him under the arrest warrant issued by the International Criminal Court.
  • Outside of geopolitics, Justice Minister Yariv Levin and Foreign Affairs Minister Sa'ar outlined a slightly softened judicial overhaul plan. The spirit of the reform that sparked widespread protests in 2023 would be preserved, but the proposal involves some minor concessions. Opposition leaders are yet to offer their view on the proposal.