Free Trial

Shekel Weakens For Sixth Straight Day


Spot USD/ILS gains for the sixth consecutive day and last trades +104 pips at 3.7170. The pair is yet to test last Friday's high of 3.7308, but Jun 2 cyclical high of 3.7551 remains in sight, with bulls looking to mount a challenge to these levels. Bears keep an eye on the 200-DMA, which last intersects at 3.5578.

  • The focus is on the latest flare-up in West Bank violence, with the IDF conducting strikes against targets in the Palestinian city of Jenin. Opposition lawmaker Ze’ev Elkin accused Prime Minister Benjamin Netanyahu of making decision without consulting his Security Cabinet amid growing distrust among coalition leaders.
  • Looking ahead, the Bank of Israel will announce its next rate decision on Friday.

To read the full story


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.