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Last Updated : Sep 18, 2019 12:26 PM IST | Source: Moneycontrol.com

EURINR is expected to move sideways: Angel Broking

According to Angel Broking, URUSD appreciated by 0.65 percent yesterday while EURINR depreciated by 0.36 percent the same time frame.


Angel Broking's currency report on EURINR


EURUSD appreciated by 0.65 percent yesterday while EURINR depreciated by 0.36 percent the same time frame. The European Central Bank decided to cut rates to -0.5% and also decided to start a QE program of €20 billion per month from Nov’19.The stimulus package came in as the underlying inflation remained generally muted, and the risks surrounding growth outlook remain tilted to the downside, according to Draghi’s words. European growth and inflation forecast were revised downwards. Meanwhile, German economic sentiment for Aug’19 came in at – 22.5 against market expectations of -38.


OUTLOOK


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


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First Published on Sep 18, 2019 10:59 am
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