The shekel is strengthening today against the dollar and euro in inter-bank trading in thin holiday trading. The shekel-dollar exchange rate is down 0.51%, compared with yesterday's representative rate, at NIS 3.868/$, and the shekel-euro exchange rate is down 0.41% to NIS 5.001/€.
In international markets, the dollar is stable against the euro, and is traded at $1.291/€.
Atrade said today that it believes that breaking the NIS 3.88/$ level will lead the exchange rate to fall further to NIS 3.865/$, and closing below this level could lead to an even greater fall to NIS 3.8/$. On the other hand, any strengthening of the dollar could take it up to NIS 3.93/$.
Atrade also says that investors are waiting tensely for the US ADP employment report which is expected to indicate that 145,000 new jobs were added in the service sector in September compared with 201,000 new jobs in August.
Published by Globes [online], Israel business news - www.globes-online.com - on October 3, 2012
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