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The American JPMorgan Bank expects that Prime Minister Benjamin Netanyahu's victory in a new term could lead to a decrease in the shekel's value by up to 3%. Conversely, the bank suggests that the currency could rise by 2% to 3% if the opposition, led by Gadi Eizenkot, succeeds in forming the government after the elections scheduled for October 27, 2026. It is worth noting that election outcomes and government formation significantly influence the shekel's exchange rate. The market tends to view a Netanyahu victory with caution due to concerns over judicial policies and institutional reforms, which could potentially reduce the currency's value. On the other hand, an opposition win might bolster the shekel, reflecting investor confidence. The bank also forecasts limited fluctuations in the exchange rate ahead of the elections but warns that the results could impact international relations and policy stability, especially given the market's sensitivity to political risks and upcoming reform decisions.
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