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Shekel Remains Fragile, IDF Urges Northern Gaza Residents To Leave Area

ILS

USD/ILS continues to trade with bullish bias, albeit gains are seemingly slowed by BoI intervention regime. The rate refreshed cyclical highs at 3.9768, and last deals at 3.9718, with the psychologically significant 4.0000 figure firmly in sight. The TA-35 Index resumed losses, shedding around 0.7% today. This brings the cumulative weekly loss for the benchmark equity index to 6.4%.

  • The Knesset approved a national emergency government led by Prime Minister Benjamin Netanyahu and including five opposition lawmakers from Benny Gantz's National Unity. Speaking in parliament, the Prime Minister called the Hamas offensive "the most horrible day for the Jewish people since the Holocaust".
  • The IDF called on civilians in the northern part of the Gaza Strip to leave their homes and flee to the south amid apparent preparations for a ground invasion of the region. Hamas urged residents to ignore the Israeli order.
  • Moody's is scheduled to review Israel's sovereign credit rating after hours today.

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