USD/ILS refers to the US Dollar/ Israeli new shekel currency pair. ILS, domestically referred to as NIS, has been the national currency of the State of Israel since 1986. It replaced the original shekel, 1,000 to 1, which was revalued due to hyper-inflation....
Since that point, the Israeli new shekel has remained stable and it became a hard, or convertible currency in 2003. This means it can be traded on foreign exchange markets with few restrictions, acting as a reliable store of value, and can be bought or sold with relative ease. Trading via derivatives on the Chicago Mercantile Exchange has been possible since 2006. Israel is a developed, free-market economy. In May 2010, Israel was invited to join the Organisation for Economic Co-operation and Development, the 38-member intergovernmental organisation designed to stimulate economic progress and global trade. Israel’s primary economic sectors are high-tech and industrial manufacturing. In addition, the Israeli diamond industry accounts for over 20% of the country’s exports. However, the Israeli economy has been somewhat hampered by geopolitical instability within Israel and the broader Middle East. As an exotic currency pair USD/ILS provides a way to diversify a currency portfolio. It is less liquid than the majors, with greater volatility, which offers some potentially lucrative opportunities.
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The USD/ILS has entered today’s trading within the grasp of near-term highs and although there is a holiday in Israel, traders of the currency pair need to be
The USD/ILS has managed to decline from highs on Friday and Monday, this as the currency pair began to stabilize yesterday and begin to selloff slightly.
Last night’s barrage of missiles into Israel certainly caused nervousness in financial institutions and the USD/ILS did trade upwards.
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Proving that Forex dynamics are complicated, the USD/ILS currency pair can be held up as a prime example for all.
The USD/ILS had been trading rather comfortably around the 3.74500 vicinity on Tuesday of this week when news from the region once again became a focus for financial institutions.
After touching a low of nearly 3.62280 on the 30th of August, the USD/ILS has climbed higher.
The USD/ILS exchange rate as of this writing is near the 3.64610 ratio as quick trading prices are being exhibited.
The USD/ILS currency pair challenged and penetrated below the 3.70000 mark early this morning.
Financial institutions which trade the USD/ILS have certainly produced choppy conditions.
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The broad Forex market and the USD/ILS have seen fast price action early this morning.
The USD/ILS has seen a bearish trend emerge since the 3rd of July when the currency pair was touching the 3.77700 vicinity.
Conditions remain rather nervous technically for the USD/ILS as it remains within the higher elements of its mid-term range.
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Sign up to get the latest market updates and free signals directly to your inbox.The USD/ILS continues to test resistance levels, and after moving downwards on Monday and Tuesday, the currency pair displayed upside again showing nervousness within financial institutions.
The USD/ILS has moved towards the 3.70950 level in early trading this morning as some selling has been displayed.
The USD/ILS was able to downshift in correlation to the broad Forex market yesterday as the currency pair traded lower and touched a depth of nearly 3.68010.