The June Consumer Price Index reading is expected to be unchanged or in negative territory.
The shekel is strengthening today against the dollar and weakening against the euro. In afternoon inter-bank trading the shekel-dollar exchange rate was down 0.39% at NIS 3.4285/$ and up 0.32% against the euro at NIS 3.923/€.
Yesterday, the Bank of Israel set the shekel-dollar exchange rate unchanged from Monday at NIS 3.442/$ and the shekel-euro rate up 0.239% at NIS 3.909/€.
The shekel is trading at its strongest in four months against the dollar. This evening the Central Bureau of Statistic will announce the Consumer Price index reading for June, which is expected to be unchanged or in negative territory.
Despite concerns that the rising number of new Covid-19 cases is driving Israel towards a second lockdown, investors remain unflustered about the prospects of the shekel. Meanwhile the euro is strengthening on world markets with the EU expected to announce a stimulus package. The euro is at its strongest against the shekel since mid-June.
Published by Globes, Israel business news - en.globes.co.il - on July 15, 2020
© Copyright of Globes Publisher Itonut (1983) Ltd. 2020
Shekel Photo: ASAP Creative