Israel

Israeli interest rates have hit a new all-time low, with the Bank of Israel (BoI) announcing on March 23 a 25 basis point (bps) cut to 0.5%. The move was not a huge surprise - the... 2009-03-24

In our bearish MENA FX article last week, we stated that the one major risk would be a bounce in the euro versus the US dollar, and, with this risk scenario apparently playing out,... 2009-03-16

On August 4th 2008, relatively soon after BMI became bullish the US dollar and bearish oil, we took a look at currencies in the MENA region. We concluded that the indications were... 2009-03-10

The Israeli shekel continues to push lower, putting our short-term ILS4.30/US$ target in sight. The possibility of a further rate cut by the Bank of Israel (BoI) in the coming months,... 2009-03-05

We reiterate our ILS4.30/US$ target for the Israeli shekel, which has fallen to an 18-month low against the dollar. The unit is currently trading at ILS4.17/US$, down by over 30%... 2009-02-26

Israeli markets are exhibiting their traditional resilience to rising political risk. However, the current conflict poses significant economic risks, which could prove negative for... 2009-01-14

While on a technical basis, the Tel Aviv-100 Index is poised to break through short-term resistance, we remain medium-term bearish Israeli stocks due to poor prospects for the all-important... 2008-12-11

The euro bounce against the dollar could have somewhat further to run, implying further shekel strength, but going forward, we expect the global deleveraging process to continue,... 2008-11-26

We see room for further shekel downside, on the back of the Bank of Israel (BoI)'s unscheduled 50bps cut in the policy rate on November 11. The cut, the third in a month, takes the... 2008-11-12

On August 4, we examined the key implications of a US dollar bounce (which has been our core view since early July) on Middle Eastern currencies. With the greenback having rallied... 2008-10-06