EURINR is expected to trade sideways: Angel Broking

According to Angel Broking, EURUSD traded higher by 0.4 percent on Tuesday while EURINR appreciated by 0. 27 percent the same time frame.

Angel Broking's currency report on EURINR

EURUSD traded higher by 0.4 percent on Tuesday while EURINR appreciated by 0. 2 7 percent the same time frame. Euro rose after the US FED changed its hawkish stance of Q 4 2018 to a patient outlook in early 2019. FED kept its rate unchanged in its first meeting of 2019. Falling demand and businesses booking the weakest rise in output for five - and - a - half years limited the gains. Even the IHS Markit Eurozone Composite Purchasing Man ager’s Index declined to 50.7 in January from 51.1 in December.

OUTLOOK

EURINR is expected to sideways in today’s session.

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