Bethel Finance: Shekel split as ECB expected to cut euro rate

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Bethel Finance news:

The shekel is strengthening against the dollar, but weakening against the euro in morning inter-bank trading today, in expectation that the European Central Bank (ECB) will cut the Eurozone interest rate. The shekel-dollar exchange rate is down 0.11%, compared with yesterday's exchange rate, to NIS 3.736/$, but the shekel-euro exchange rate is up 0.33% to NIS 5.021/€.

In international markets, the dollar is trading at $1.34/€ against the euro.

Analysts expect ECB President Mario Draghi to cut the interest rate by 25 basis points to 1%. Analysts expect the Bank of England to keep its interest rate unchanged at 0.5%. In the US, figures for new unemployment claims and wholesale inventory will be published later today. Analysts expect new unemployment claims to total 397,000 and they expect a 0.4% increase in wholesale inventory.