Buy EURINR; target of : 90.50 : March 07, 2024: ICICI Direct

ICICI Direct's currency report on EURINR

Euro edged higher by 0.39% yesterday amid weak dollar and better than expected German trade data. For today, EURUSD is likely to hold the support near 1.0860 level and rise towards 1.0930 level amid soft dollar and optimistic global market sentiments. Additionally, investors will keep an eye on ECB monetary policy, where central bank is likely to hold rates at record high. More focus will be on statements from ECB to get fresh cues about when rate cuts may begin. EURINR March may rise towards 90.50 level as long as it trades above 90.00 levels.

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