News

Aluminum prices have soared to a four-year high! Following the attack on a Middle Eastern smelter and the indefinite delay in resuming production, the interplay between low inventory and heightened geopolitical risks is reshaping the ceiling for aluminum prices.

Thom Tillis stated that, due to the desire to specify a clear date, stablecoin yield text may not be released this week, according to Politico. (Cointelegraph)

Ashkelon College economics professor and former chief economist of the Bank of Israel, Asher Blass, stated that this historic decline is the result of both the international weakening of the US dollar and the long-term trend supporting the New Shekel. Blass noted that the distinguishing feature of Israel’s economy is the inflow of tens of billions of US dollars from overseas capital and the export of services and products, especially from the high-tech sector. The high-tech sector is one of the main driving forces of Israel’s economy. He also said, “As long as the global high-tech industry remains prosperous, it is good news for Israel.” In the short term, the strengthened New Shekel against the US dollar helps alleviate Israel’s inflation pressure and promotes lower interest rates, as imports priced in New Shekels become cheaper. However, in the long term, a persistently strong New Shekel may drag down exports and place pressure on traditional industries and tourism.