Free Trial

USD/ILS Cuts Intraday Loss But Recent Cycle Highs Remain Intact

ILS

USD/ILS oscillates within yesterday's range, with bulls struggling to test the recent cyclical highs. The shekel is the second-best EMEA performer (after ZAR), but the wider greenback has garnered some strength now, prompting the pair to trim earlier losses. The rate last deals at 3.7825 and should the upswing continue past Aug 21 high of 3.8107, bulls could set their sights on Mar 17, 2020 high/round figure of 3.8894/4.0000.

  • Data released earlier today showed that Israel's manufacturing production contracted 1.0% Y/Y in June, while the previous reading was revised lower to -1.7% from -0.8%.

To read the full story

Close

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.