EURINR Trading Strategy - 03.08.2016
Currencies USDINR
US dollar index is trading at 95 . 11 , continuing to depreciate as markets continued to believe that there would not be any rate hikes this year . US dollar was also under pressure as markets reacted to the fiscal stimulus announcement from the Japanese government which failed to stop the appreciating Yen . ADP employment data and the ISM non - manufacturing PMI data would be important during today’s trading .
EURINR
Euro is trading at 1 . 1217 , continued appreciating against the US dollar in yesterday’s session . Euro remained stable in the last few sessions and with no major economic triggers as compared to its peers it is likely that the shared currency is set to remain stable . Long term outlook continues to remain weak for the Euro but stability would be the theme in the near term .
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Currencies USDINR
US dollar index is trading at 95 . 11 , continuing to depreciate as markets continued to believe that there would not be any rate hikes this year . US dollar was also under pressure as markets reacted to the fiscal stimulus announcement from the Japanese government which failed to stop the appreciating Yen . ADP employment data and the ISM non - manufacturing PMI data would be important during today’s trading .
EURINR
Euro is trading at 1 . 1217 , continued appreciating against the US dollar in yesterday’s session . Euro remained stable in the last few sessions and with no major economic triggers as compared to its peers it is likely that the shared currency is set to remain stable . Long term outlook continues to remain weak for the Euro but stability would be the theme in the near term .
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