Moneycontrol
Feb 07, 2018 11:21 AM IST | Source: Moneycontrol.com

EURINR is expected to appreciate: Angel Broking

According to Angel Broking, EURUSD appreciated by 0.07 percent while EURINR depreciated by 0.03 percent during the same time frame. Euro regained strength despite Mario Draghi calling for monitoring of the currency volatility.

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Angel Broking's currency report on EURINR


EURUSD appreciated by 0.07 percent while EURINR depreciated by 0.03 percent during the same time frame. Euro regained strength despite Mario Draghi calling for monitoring of the currency volatility. He also mentioned that inflation had remained subdued but economic growth has been on track.  Also, the preliminary quarterly GDP estimates for euro zone ca me in line with market expectations at 0.6% for Q4 2017. Euro services PMI comes in at 58 for Jan’18 against market expectations of 57.6. German factory orders rebounds to 3.8 % in Dec’ 17 as compared to market expectation of 0.6%.

OUTLOOK
EURINR is expected to appreciate in the coming session.

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