FXCM Israel: Consolidating above NIS 3.90/$ could pave the way to NIS 3.95/$.
The shekel is strengthening this afternoon in inter-bank trading against the dollar and against the euro. The shekel-dollar rate is down 0.09% at NIS 3.927/$ and the shekel-euro rate is down 0.33% at NIS 4.412/€.
Yesterday, the Bank of Israel set the shekel dollar representative rate up 0.178% from Tuesday's rate at NIS 3.930/$, and the representative shekel-euro rate was set up 0.149%, at NIS 4.427/€.
FXCM Israel research department said this morning, "The shekel-dollar exchange rate continues to consolidate around the NIS 3.92/$ mark. Consolidating above NIS 3.90/$ could make possible the next breakthrough upwards with a major resistance level around NIS 3.94-3.95/$. Worldwide yesterday was a positive day for the dollar due to good US employment figures with 190,000 new jobs created. This helped moderate concerns about a slowdown in Chinese growth, and these are the two forces dictating sentiment in the financial markets - the unstable Chinese economy, and recovering US economy.
Published by Globes [online], Israel business news - www.globes-online.com - on September 3, 2015
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