Dollar Stabilizes Near 3 Shekels Amid Global and Local Currency Market Calm

The US dollar is trading steadily around 3.00 Israeli shekels, while the euro remains above 3.47 shekels in local markets. Globally, the dollar index is stable at 99.7 points against a basket of leading currencies. The euro holds above $1.15, the British pound is steady above $1.34, and the Japanese yen remains stable with the dollar at 157.7 yen.

Investors in the United States are awaiting the July employment report, scheduled for release tomorrow, hoping for signs of economic recovery ahead of July's inflation data due on August 12. The Federal Reserve's next interest rate decision is expected on September 16, by which time both the employment and inflation reports for August will also be published.

Following Federal Reserve Chair Kevin Warsh's June 17 press conference, where he noted positive trends in employment data, the latest US labor report revealed only 57,000 new jobs added in June, significantly below economists' forecast of 115,000. Additionally, May and April job gains were revised downward to 129,000 and 148,000 respectively, from earlier estimates of 172,000 and 179,000.

Economists at Barclays estimate that July saw an addition of 100,000 jobs. They note that without revisions to previous months, the average job growth over the past three months stands at 95,000, which is above the threshold needed to maintain labor market stability. Market forecasts, including Barclays, expect the unemployment rate to remain steady at 4.2%.