Moneycontrol
Feb 09, 2018 11:27 AM IST | Source: Moneycontrol.com

EURINR is expected to move sideways: Angel Broking

According to Angel Broking,EURUSD depreciated by 0.14 percent while EURINR depreciated by 0.32 percent during the same time frame. Euro remained weak as Mario Draghi called for monitoring of the currency volatility.

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Angel Broking's currency report on EURINR


EURUSD depreciated by 0.14 percent while EURINR depreciated by 0.32 percent during the same time frame. Euro remained weak as Mario Draghi called for monitoring of the currency volatility. He also mentioned that inflation had remained subdued but economic growth has been on track. Also, German industrial production comes in line with market estimates at - 0.6% for Jan’18. Euro services PMI comes in at 58 for Jan’18 against market expectations of 57.6. German factory orders rebounds to 3.8% in Jan’18 as compared to market expectation of 0.6%. Also, German parties go ahead with grand coalition.

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

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