Options trading points to a 0.9% rise in the shekel-dollar exchange rate, to NIS 3.817/$, and a 0.93% rise in the shekel-euro exchange rate, to NIS 5.3137/€. There is no inter-bank trading on Sundays.
Leader Capital Markets analysts write, "There is uncertainty regarding the effects of operation Cast Lead on military spending, and as to when the operation will end. Currently, there is no worry of a noticeable increase in budget outlay, and a small increase can support economic activity."
Union Bank analysts see support for the shekel at a rate of NIS 3.677/$. The nearest resistance level is NIS 3.89/$, and there is a further one at NIS 4/$.
On Friday, the Bank of Israel set the representative shekel-dollar rate at NIS 3.783/$, and the representative shekel-euro rate was set at NIS 5.2646/€.
Published by Globes [online], Israel business news - www.globes-online.com - on January 4, 2009
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