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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.
ISRAEL
- USD/ILS closes an early breakout gap to 3.30 in early trading this morning amid a substantial escalation in tensions with Palestine this week, pulling back lower towards the 3.27-3.28 zone.
- Yesterday's session saw price action close in line with the 50dma at 3.2898, and will need to retake the level to see more topside momentum.
- Tensions show no signs of thawing at this juncture, with both Hamas and the IDF ramping up their military activities – pushing the situation closer to all-out war.
- A number of key meetings are expected today, notable the UN Security council, but no resolutions are expected – limiting the likelihood of a deceleration in tensions.
- ILS may continue to come under pressure as the situation deteriorates, with sellers emerging at newly-formed 3.27 support.
- Topside Resistance levels to note are 3.2976 & 3.3112
- TA-35 Index trades -0.35%, having found support at 1,600 in yesterday's session.
- A break below 1,600 opens up support at the inverse head and shoulders pattern formed in Feb-March at 1,570, 1550 & 1525.
- 1w Implied vols have jumped higher overnight, trading back near the 7.00 handle, but still well below YTD highs at 11.00.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
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.
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