Goldman Sachs: Shekel to Strengthen on Trade Surplus, Rate Cuts

Goldman Sachs forecasts the shekel will strengthen from NIS 3.7/$ currently to NIS 3.55/$ over the next year
The bank expects the Bank of Israel to cut interest rates from 4.5% to 4.25% at its next meeting
Reasons given for potential shekel appreciation include Israel's trade surplus, US tech stock gains, and possible influx of foreign aid
The shekel was stable despite Israel's weak Q4 2023 growth figures
Inflation moderating towards the Bank of Israel's target could reduce currency intervention