Moneycontrol
Apr 09, 2018 12:12 PM IST | Source: Moneycontrol.com

EURINR is expected to move sideways: Angel Broking

According to Angel Broking, EURUSD depreciated by 0.5 percent while EURINR appreciated by 0.8 percent during the same time frame.


Angel Broking's currency report on EURINR


EURUSD depreciated by 0.5 percent while EURINR appreciated by 0.8 percent during the same time frame. Manufacturing PMI from Euro zone came in line with market expectations at 56.6 for Mar’18. Also, Euro zone CPI came in line with market expectations at 1.4% for Mar’18. Services PMI from Euro zone came in line with market expectations at 54.9 for Mar’18.  However, Euro remained week as concerns about weak inflation and slowdown in company borrowings questioned the momentum of the Euro zone economic expansion.


OUTLOOK
EURINR is expected to move sideways in today’s session.


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