Bank of Israel November Rate Unchanged, USD/ILS Ascends

Trade FOREX with FXCM

  • Award-Winning Platform
  • 24/7 Customer Support
  • Trade Directly on Charts
  • Free $50K Practice Account

Free Resources

English

  • DailyFX Home

  • Français

  • Deutsch

  • Italiano

  • Español

  • ???

  • ????????

  • ???????

  • ??

  • Dansk

Forex Market News

Market News
Daily Briefings
US Dollar Index
Forecasts
TV and Video
Weekly Columns
Real Time News
Live Webinars

Instruments

EUR/USD 
Gold Price

GBP/USD  
USD/CAD

AUD/USD  
USD/JPY

USD/CHF  
NZD/USD

S&P 500  
FOMC

Market News Headlines

Forecast: Will Dollar and Equity Declines Evolve into Reversals?

Dollar Stumbles but Will it Fall as Markets Debate Fed Hikes?

1173 Key Support in Focus as Gold Preserves Monthly Opening Range

Technical Analysis

Technical Analysis
Trading Strategies
Articles
Candlesticks
Daily Technicals
Sentiment
Pivot Points

Technical Analysis

USDCAD Record Volume Highlights Near Term Capitulation Risk

The Weekly Volume Report: Dollar Trying To Turn?

Crude Oil Aims to Extend Gains After Hitting 4-Month High

Analyst Picks

Analyst Picks
DailyFX Team

Latest Analyst Picks

DailyFX For Beginners

Trading Courses
Learn Forex
Course Trading Tips

Trader Survey

Trading Guides
Trading Instructors
DailyFX University

New Trading Tips

Forex Sentiment & Volume Analysis – EURUSD

US Dollar Finds Support

US Dollar SSI Flashes Broad Based Bear Signal

Economic Calendar

Forex Economic Calendar

Time

Event
Actual
Forecast

Apr 19

22:30

NZD Performance Services Index (MAR)

Apr 19

22:45

NZD Consumer Prices Index (QoQ) (1Q)

Apr 19

22:45

NZD Consumer Prices Index (YoY) (1Q)

Economic Calendar
Rollover Calendar
Dividend Calendar
Live Trading Room
Mobile Trading
Live Webinars

Charts

Live Charts

EUR/USD
GBP/USD
USD/CAD
AUD/USD
EUR/JPY

 

USD/JPY
USD/CHF
EUR/CHF
NZD/USD
GBP/JPY

Free Forex Charts
Premium Charts
Currency Converter
Live Forex Rates

DailyFX PLUS

SSI: US Dollar Remains a Contrarian Sell on Rallies

SSI: Crowd’s Preference for Greenback Hurts the US Dollar’s Prospects

SSI: Traders Turn Net-Short GBPUSD

DailyFX PLUS Overview
Trading Signals
Technical Analyzer
Live Classroom
Speculative Sentiment Index
On-Demand Video Courses

Premium Services

DailyFX 360
DailyFX on Demand
DailyFX on Demand Login

Forum

Latest Forum Posts

GER 30 / DAX
Today at 00:50

Scalping sur Indices et Forex
Yesterday at 21:41

jamil analysis
Yesterday at 20:38

Der Eur/ USD Talk
Yesterday at 20:28

Forum

Education Forums
FX Programmers

More real-time news

Resources

DailyFX Home /

Market Alerts

Bank of Israel November Rate Unchanged: USD/ILS Ascends

By Walker England, Forex Trading Instructor
 and Kara Dailey

27 October 2014 18:31 GMT

Tweet

Talking Points:

  • Bank of Israel’s November interest rate unchanged at 0.25%
  • CPI declines 0.3% in September and PMI remains just below 50
  • Shekel weakens 10.4% against the dollar over the course of 4 months

In today’s press release, the MPC kept the Bank of Israel’s November interest rate unchanged at 0.25%. The committee cites underwhelming and unresponsive economic activity, a weak global outlook, and Operation Protective Edge as reasons for maintaining the key rate.

The market has largely remained unresponsive to the central bank’s 25 bps rate cut made in August. CPI fell by 0.3% in September, accompanied by a 0.2% decline in the 12 month forward expected inflation rate, which now stands at 0.9%. PMI increased by 7.3 points, but still remains below the pivotal 50 and while wages increased 0.7% the number of jobs added declined by 0.3%. Furthermore, the spread between the 10 year Israeli Government bond and the 10 year US Treasury has remained constant; the underpricing of risk has kept new investment low in volume.

A similar push-pull relationship is exhibited in the global market place. Recovery is well underway in the U.S., but a strong dollar may push the anticipated FED rate increase deeper into 2015. In the Asia/Pacific region, the Chinese economy is stabilizing while Japan is committed to an accommodative stance as the economy struggles to adjust to a 3 % VAT increase. Furthermore, low inflation in the Eurozone (0.3%) and falling oil prices have led the IMF to decrease their 2015 global growth forecast by 0.2%.

The geopolitical risk associated with Israel’s role in Operation Protective Edge is also noted, by the central bank, to have slowed economic growth. Midway through the conflict the USD/ILS began a 3963 pip advancement with the Shekel depreciating 4.4% against the dollar in the last month alone. If price continues to remain above the ascending support line, traders can look for higher highs.

USD/ILS Daily Chart

Chart Created by Walker England Using MarketScope2.0

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.Learn forex trading with a free practice account and trading charts from FXCM.

27 October 2014 18:31 GMT

Tweet

  • Related Articles
  • Previous Articles from
     market alert
  • Apr, 18 03:54 GMTEURUSD Running Out of Steam On the Hint of Negative Divergence
  • Apr, 18 03:43 GMTVolatility and Future Challenges Highlight Second G20 Meeting
  • Apr, 16 02:46 GMTAustralian Dollar Gains as March’s Labor Force Data Tops Estimates
  • Apr, 15 13:18 GMTECB Press Conference Invites Minimal Volatility, Limited EUR/USD Range
  • Apr, 14 13:05 GMTEUR/USD Surges Back Above $1.0650 after March US Retail Sales Miss
  • Oct, 24 18:19 GMTZloty Gains Strength as Belka Deems Currency Undervalued
  • Oct, 24 08:45 GMTGBP/USD Holds Above 1.6000 As UK 3Q GDP Remain Faithful To Estimates
  • Oct, 23 14:31 GMTNorges Bank Preserves Key Policy Rate: USD and EUR/NOK to Consolidate
  • Oct, 22 19:17 GMTSweden’s Riksbank Expected to Cut Rates 15-20 bps
  • Oct, 22 08:49 GMTGBP/USD Plunged As BoE Voted 7-2 And Raised Concerns For Global Outlook

Market News
Daily Briefings
US Dollar Index
Commodities
Forecasts
TV and Video
Research Columns
Real Time News
Technical Analysis
Trading Strategies
Articles
Candlesticks
Daily Technicals
Sentiment
Pivot Points
DailyFX for Beginners
Learn Forex
Course Trading Tips
Trading Courses
Economic Calendar
Rollover Calendar
Live Trading Room
Mobile Trading
Calendar of Events
Free Forex Charts
Premium Charts
Currency Converter
Live Rates
Analyst Picks
DailyFX PLUS
Forum
RSS
Syndicate Our Content
Website Widgets
Archive
DailyFX on Facebook
DailyFX on LinkedIn

Please note the information on this website is intended for retail customers only, and not for any Eligible Contract Participants (i.e., institutional clients) as defined in the Commodity Exchange Act §1(a)(12).

© 2015 DailyFX an FXCM company. All Rights Reserved.
Press | Sitemap | Contact Us | Risk Warning | Privacy Policy | T & C

Bank of Israel November Rate Unchanged: USD/ILS Ascends …

Laisser un commentaire