Moneycontrol
Last Updated : Jan 14, 2019 01:27 PM IST | Source: Moneycontrol.com

EURINR is expected to trade sideways: Angel Broking

According to Angel Broking, EURUSD appreciated against US dollar by 0.44 percent last week while EURINR appreciated significantly by 1.5 percent the same time frame.

Euro | January 1: Rs 75.56, December 17: Rs 81.27, Percentage change: 7.03 (Image: Reuters)
Euro | January 1: Rs 75.56, December 17: Rs 81.27, Percentage change: 7.03 (Image: Reuters)

Angel Broking's currency report on EURINR


EURUSD appreciated against US dollar by 0.44 percent last week while EURINR appreciated significantly by 1.5 percent the same time frame. Fed Chairman Jerome Powell told the American Economic Association the Fed is not on a present path of rate hikes and it will be sensitive to the downside risks markets are pricing in. The upside was restricted by weak Economic data in the euro zone over the last few months, especially in France and Germany, the Eurozone’s economic powerhouses. The European Central Bank is widely expected to remain accommodative in 2019, which should keep a lid on the single currency.


OUTLOOK


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


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First Published on Jan 14, 2019 01:27 pm
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