Moneycontrol
Last Updated : Jan 25, 2019 11:30 AM IST | Source: Moneycontrol.com

EURINR is expected to trade lower: Angel Broking

According to Angel Broking,EURUSD depreciated by 0. 7 percent yesterday while EURINR appreciated by 0. 9 percent during the same time frame.


Angel Broking's currency report on EURINR


EURUSD depreciated by 0. 7 percent yesterday while EURINR appreciated by 0. 9 percent during the same time frame. Euro dipped after reports showed that its economy was closing stagnation in early 2019. Falling demand and businesses booking the weakest rise in output for five - and - a - half years added further pressure. Even the IHS Markit Eurozone Composite Purchasing Manager’s Index declined to 50.7 in January from 51.1 in December. As per the expectation of the market the E CB kept the monetary policy unchanged, Mr. Draghi expressed greater concern over their economic condition and signalled towards a later rate hike.


OUTLOOK


EURINR is expected to trade lower in today’s session.


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First Published on Jan 25, 2019 11:30 am
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