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 is near the 3.71990 ratio as of this writing and is banging up against important near-term resistance as the 3.72000 appears to be an important threshold.
The USD/ILS pair as of this writing is near the 3.71830 mark with fast fluctuations being delivered in Forex.
The US dollar has bounce slightly against the Israeli Shekel during the trading session on Monday, after falling for quite some time.
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The USD/ILS continues to correlate to the USD rather well.
The USD/ILS has traded lower and is touching values last seen in early April.
The US dollar has rallied slightly during the trading session on Thursday against the Israeli shekel, as the overall action over the last couple of months have suggested a bit of a “bullish flag” setting up.
The USD/ILS has traded slightly higher in early morning trading, this as the currency pair remains within sight of short and mid-term highs as technical ranges hold.
Narrow Range, CPI Data Impact Looms.
Caution with Unusual Spikes, Vigilance Needed.
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The USD/ILS has taken another turn lower in trading this morning.
The USD/ILS is near the 3.58100 ratio as of this writing.
The USD/ILS is trading near 3.62570 as of this writing, the currency pair is touching lows and price action certainly appears to be testing short-term support levels.
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The USD/ILS is trading near the 3.69340 ratio as of this morning with swift upwards trading having been demonstrated the past day and a half.
The USD/ILS has continued to track slightly lower this week, and it is well within its mid-term value realms as speculators wonder what is next for the currency pair.
The USD/ILS has produced a rather tight range the past handful of days and this is likely to continue the remainder of this week.