Union Bank notes the drop in US consumer confidence.
The shekel appreciated against the dollar and euro in options trading this morning. The shekel-dollar exchange rate fell 0.47% to NIS 3.36/$ and the shekel-euro exchange rate fell 0.36% to NIS 5.31/€.
Friday's shekel-dollar representative exchange rate was set at NIS 3.378/$, up 0.1% on Thursday, and the shekel-euro representative exchange rate was set at NIS 5.329/€, up 0.52%.
Union Bank predicts that the shekel-dollar exchange rate will be traded between a support level of NIS 3.35/$ and a resistance level of NIS 3.43/$. The bank cites last week's downbeat US macroeconomic figures, including the drop in the Consumer Confidence Index, and lower monthly home sales.
Published by Globes [online], Israel business news - www.globes-online.com - on June 29, 2008
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