Options trading is pointing to a higher shekel-dollar exchange rate, which is rising 0.07% to NIS 3.8516/$, and to a 0.19% drop in the shekel-euro exchange rate to NIS 4.9721/€. There is no inter-bank foreign currency trading on Sundays.
On Friday, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.849/$, 0.388% lower than the day before, and set the shekel-euro representative exchange rate at NIS 4.9814/€, 0.127% higher than the day before. The pound was worth NIS 5.9082.
On Monday afternoon, the Bank of Israel will report its interest rate decision for August. The interest rate will be effective as of July 29th. Economists are split, with some expecting a rise of 25 basis points, and some expecting no change this month. While there remains a general consensus that the bank is in a cycle of rising interest rates, there are varied views about the pace of the rate hikes.
On Tuesday morning, Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) is set to release its quarterly earnings, and on Wednesday several technology companies will report, including Alvarion Ltd. (Nasdaq: ALVR; TASE: ALVR), Ness Technologies Ltd. (Nasdaq: NSTC; TASE: NSTC), and AudioCodes Ltd. (Nasdaq: AUDC; TASE: AUDC).
Published by Globes [online], Israel business news - www.globes-online.com - on July 25, 2010
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