Israeli Shekel Weakens Against Major Currencies Ahead of US Midterms
Translated & summarized from Calcalist by baba
The Israeli shekel weakened against the dollar, euro, and pound on Monday, continuing a recent negative trend. Investors are focused on the upcoming US midterm elections, a key jobs report, and central bank interest rate decisions. Globally, the dollar remained stable against major currencies, though it saw gains against the yen.
The story in 5 lines · by baba
- The Israeli shekel weakened against the dollar, euro, and pound on Monday.
- Investors are anticipating the US midterm elections and key economic data releases.
- The US dollar remained stable globally but strengthened against the Japanese yen.
- The euro and pound saw gains against the US dollar.
- Interest rate decisions are expected from several central banks this week.
The Israeli shekel continued its recent downward trend, weakening slightly against major global currencies on Monday. The US dollar gained 0.1% against the shekel, trading around 3.14 shekels. The euro climbed 0.3% to 3.51 shekels, and the British pound rose 0.1% to trade at 4.21 shekels.
Investors are bracing for a significant week of economic events, including the US midterm elections, the release of the October US jobs report, and interest rate decisions from central banks in the UK, Australia, Norway, and Sweden. On Tuesday, Americans will vote in the midterm elections, with forecasts suggesting Democrats are likely to secure a majority in the House of Representatives, while control of the Senate remains uncertain.
Globally, the US dollar was trading steadily against a basket of major currencies. The euro saw a 0.2% increase against the dollar, reaching 1.118 dollars, and the pound rose 0.1% to 1.34 dollars. Conversely, the dollar strengthened by 0.1% against the Japanese yen, trading at 157.77 yen.
