Shekels on Dollar
Dear Readers (especially Israeli Readers), Since Dec 2006? our target for SHEKEL was 3.78 Dollars Per Shekel. Congrats, we have arrived. As I write this post Shekel Stands Exactly at 3.78! Now, we expect the SHEKEL to have some more strength and TOP at 3.50 - 370 area within two weeks of JEWISH PASSOVER April 21 2008. This was the time aimed initially as well. Shekel will decline for 2-3 years thereafter with inital target 4.50(2009) and 4.80(2012). TA-100 will suffer considerably as foreigners start taking their money home, but could be helped later by weak SHEKEL.
All Readers, implications of this are worldwide, why? Israel, like all other near developed countries benefited from low Dollar and capital inflows were high. That is about to END, and the world can not shrug off the economy consuming close to 1/4 of world GDP. When America dives, Everyone will dive with it. All who call for BRIC decoupling from USA are nuts! Another implication this has is that Dollar, while turning, will/can not honestly take off till April 2008.
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