The shekel is again strengthening today against the dollar and against the euro. In afternoon inter-bank trading, the shekel-dollar exchange rate is down 0.28% against the dollar at NIS 3.668/$ and down 0.30% against the euro at 4.193/€.
Yesterday, the Bank of Israel set the shekel-dollar representative rate down 0.054% at NIS 3.678/$ from Monday's rate and set the shekel-euro rate up 0.095% at 4.206/€.
Though there has been no major economic data in Israel this week, the news that Intel is likely to invest a further $11 billion in a new Kiryat Gat fab gives investors another example of the country's robust economic prospects. In the shorter term, earlier this week, Leader Capital Markets macroeconomist Yonatan Katz said he sees quarterly growth of 3% on an annualized basis in the coming quarters.
The US Federal Reserve is currently meeting and in its announcement tonight investors will expect to hear about a pause in its tightening policy following pressure from President Donald Trump and a downward revision in growth forecasts.
Published by Globes, Israel business news - en.globes.co.il - on January 30, 2019
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