General elections will be held in Israel on Tuesday, November 1. Ahead of general elections, economists at Credit Suisse continue to expect USD/ILS to rise towards 3.65 later in the fourth quarter.

Ready to buy USD/ILS on possible dips on “clean” election outcome

“The latest polls show a tie between former Prime Minister Netanyahu’s right-wing bloc and the one led by current Prime Minister Yair Lapid. Although this points to possible lingering political uncertainty, we do not expect much of an impact on the shekel. 

“We continue to expect USD/ILS to rise towards 3.65 later in Q4.”

“We would view possible short-term pullbacks in USD/ILS on the back of a clear election outcome as a buying opportunity.”