Israeli stocks, shekel to post weekly gains

Israeli shekel, stocks to post first weekly gain since Hamas attack

Israeli stocks appeared poised on Friday to register their first weekly gain since the Hamas attack on October 7. The TA-35 equity index recorded a 1.4% increase on Thursday, extending its weekly rise to 4.5%. The New Israeli Shekel also strengthened by 0.5%, pushing below 4 per dollar and approaching its highest closing level since October 13.

Despite the recovery, the shekel remains over 3% weaker against the dollar than when hostilities commenced on October 7, while stocks have faced a decline of over 8%.

The Bank of Israel, having unfolded a $30 billion forex reserve sale program several weeks ago, remains on guard to rein in excessive moves. U.S. Secretary of State Antony Blinken arrived in Tel Aviv for talks on Friday, saying ahead of his trip that Washington is “determined to deter any escalation” in the nation’s war with Hamas.

計算您的外匯保證金

計算您的外匯倉位的假設所需保證金（如果您現在已開立該倉位）。.

分類

主要

主要

次要

小貨幣

Currencies

金融工具

買價

賣價

帳戶類型

零售 專業人士

方向

出售 購買

數量

金額必須等於或高於

金額必須小於

金額應為最小手數增量的倍數

計算

USD

USD

EUR

GBP

CAD

AUD

CHF

ZAR

MXN

JPY

槓桿

-

所需保證金

$-

所需保證金以工具貨幣顯示

所需保證金

$-

所需保證金以所選帳戶貨幣顯示

當前兌換價格:

-

開始交易

過去的表現並不是未來結果的可靠指標。

USD decline: Dollar slides on weak employment data

The U.S. dollar fell to its lowest level since September on Friday, after data showed the world’s largest economy generated fewer jobs than anticipated in the previous month. This reinforced the belief that the Federal Reserve is likely to extend its pause on interest rate hikes at its December meeting, despite keeping the door open for further monetary contraction at its announcement this week.

The DXY dollar index dropped to 105.19, trading 0.88% down on the day, as per MarketWatch data.

Israel economy forecast: JPMorgan sees 11% contraction in Q4 2023

The war has led to a sudden slowdown in economic activity, with investment bank JPMorgan Chase & Co. recently projecting a potential 11% year-on-year contraction in Israel's economy for the last quarter of 2023.

Options markets have indicated elevated levels of bearish bets against the shekel — the additional cost of protecting against the currency's depreciation in the upcoming month, compared to hedging against its appreciation, has risen to 1.7%, according to risk reversal data cited by Bloomberg.

While Israel continues with what it terms the “second phase” of the conflict, involving an expanded ground offensive in Gaza, emerging market stocks are up 3% so far this week after two straight declines as investors reprice odds of Fed hikes and assess fallout from the conflict in the Middle East. Emerging market currencies are on track for a 1% weekly gain — the most since July, as highlighted by Bloomberg.

At the time of writing on Friday, the USD to ILS rate stood at 3.9331, with the shekel having gained close to 1.25% against the dollar on the day.

When considering foreign currency (forex) for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss.

Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice.