EURINR is expected to trade lower: Angel Broking

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In the yesterday’s trading session, EURUSD spot traded lower by 0. 16 percent while EURINR rose by 0.11 percent ; all thanks to holiday thinned trade and Mario Draghi’s dovish message to the European Parliament. The ECB President has confirmed that Euro – zone still needs ‘extraordinary amount of monetary support’ in spite of its growing economic recovery. In a recent statement, Angela Merkel said that Germany could no longer rely on Donald Trump’s America and has to be in dependent. Furthermore, former Prime Minister Matteo Renzi raised the prospect of an early election which intensified the fear in the markets that led to weak trading. Today, EURINR spot i s likely to trade lower.

 

OUTLOOK

 

Today, EURINR spot i s likely to trade lower.

 

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