Moneycontrol
Jan 13, 2017 11:02 AM IST IST | Source: Moneycontrol.com

EURINR is expected to trade higher: Angel Broking

According to Angel Broking, Euro currency, in the international market traded higher by 0. 28 percent yesterday owing to lower DX. Moreover, the World Bank reduced the growth forecast of Euro area to 1.5 percent from previous forecast of 1.6 percent.

Angel Broking's report on currency

EURINR
Euro currency, in the international market traded higher by 0. 28 percent yesterday owing to lower DX. Moreover, the World Bank reduced the growth forecast of Euro area to 1.5 percent from previous forecast of 1.6 percent. Despite the fractional reduction in growth, economic indicators of the Euro area points towards gradually recovery of the economy after enduring years of stagnant growth in the wake of the 2008 financial crisis and the subsequent Greek debt crisis. In today’s trading session, EURINR is expected to trade higher after the robust release of industrial output data for the Euro area that surged  by 1.5 percent  in December ’16 ; better than expected.  

OUTLOOK
EURINR is expected to trade higher after the robust release of industrial output data for the Euro area that surged  by 1.5 percent  in December ’16 ; better than expected. 

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