Shekel boosted by strong employment data

Shekel Photo: ASAP Creative

On Wednesday, the Central Bureau of Statistics will announce the Consumer Price Index (CPI) for June with economists predicting a 0.1%-0.2% fall.

The shekel is strengthening today against the dollar and against the euro. In afternoon inter-bank trading the shekel-dollar exchange rate was down 0.47% at NIS 3.441/$ and down 0.10% against the euro at NIS 3.899/€.

The Bank of Israel set the shekel 0.377% higher on Friday at NIS 3.434/$, and the representative shekel-euro rate was set 0.090% higher, at NIS 3.903/€.

The shekel has been boosted today by strong data from the Central Bureau of Statistics, which showed that unemployment fell 50% in June. Data yesterday from the Central Bureau of Statistics showed that the housing market in terms of the number of deals completed had returned to normal in May and June after the lockdown in March and April. These data have improved sentiment and confidence despite the growing number of new Covid-19 cases in the second wave.

On Wednesday, the Central Bureau of Statistics will announce the Consumer Price Index (CPI) for June with economists predicting a 0.1%-0.2% fall.

Published by Globes, Israel business news - en.globes.co.il - on July 13, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Shekel Photo: ASAP Creative
Shekel Photo: ASAP Creative
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