The shekel is continuing to strengthen against the dollar, but is weakening against the euro in morning inter-bank trading today. The shekel-dollar exchange rate fell 0.26%, compared with yesterday's representative rate, to NIS 3.951/$, and the shekel-euro exchange rate rose 0.35% to NIS 5.085/€.
In international markets, the euro hit a fourth-month high against the dollar, trading at $1.2885/$.
In Israel, the Central Bureau of Statistics yesterday predicted that GDP will grow by 3.5% in 2012, above the forecasts by the Bank of Israel and Ministry of Finance.
In Europe, investors are waiting for a ruling by Germany's Constitutional Court on whether the eurozone's new permanent rescue fund, the European Stability Mechanism (ESM), is compatible with the German constitution. 37,000 motions were filed against the ESM.
In the US, investors are waiting to see if Federal Reserve Board Chairman Ben S. Bernanke will announce a new quantitative easing (QE3) plan.
Published by Globes [online], Israel business news - www.globes-online.com - on September 12, 2012
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