Moneycontrol
Jan 29, 2018 11:53 AM IST | Source: Moneycontrol.com

EURINR is expected to move sideways: Angel Broking

According to Angel Broking, EURUSD appreciated by 0.89 percent while EURINR depreciated by 0.68 percent during the day.

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Angel Broking's currency report on EURINR


EURUSD appreciated by 1.7 percent while EURINR depreciated by 1.25 percent during the same time frame. Euro had appreciated as ECB spokesperson had commented on cutting down the 2.55 trillion Euro monetary stimulus program in 2018. However, in the recently concluded meeting ECB kept interest rates unchanged but they were optimistic about inflation in the Euro area. Also, Euro Area flash services PMI came in better than market estimates at 57.6 in Dec’17 as compared to 56.5.

OUTLOOK
EURINR is expected to move sideways in the coming session.

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