EURINR is expected to move sideways: Angel Broking

Angel Broking's currency report on EURINR

EURUSD appreciated by 0.3 percent yesterday while EURINR depreciated by 0.34 percent the same time frame. PPI from Euro zone came in at - 0.8 percent against market expectations of -0.7 percent for Jan'19. Services PMI from Eurozone came in at 51.2 against market expectations of 50.8 for Jan'19. Also, factory orders from Germany came in at -1.6 percent against market expectations of 0.3 percent for Jan'19. In line with other negative data sets, German industrial production data also came in at -0.4 percent against market expectations of 0.8 percent.

OUTLOOK

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

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Read More First Published on Feb 15, 2019 11:33 am