MENU

Published on 25/01/2019 9:32:56 AM | Source: Angel Broking Pvt Ltd

Fundamental Outlook 25th January 2019 - INR, EUR, GBP by Angel Broking Pvt Ltd

Posted in Currency Report| #Currency Tips #Angel Broking Pvt Ltd

Now Get InvestmentGuruIndia.com news on WhatsApp. Click Here To Know More

FUNDAMENTAL OUTLOOK

Indian rupee

Indian Rupee appreciated by 0.3 percent yesterday while the Dollar Index ticked higher by 0.5 percent. The greenback was also supported after U.S. Commerce Secretary Wilbur Ross said on Thursday that the United States and China are "miles and miles" from resolving trade issues. Trade tensions between the world's two largest economies have kept a lid on investor risk appetite in the new year, as it did for long periods last year.

The dollar held firm against most of its peers in the face of the global economic worries, with the European Central Bank proving the latest warning about the dimming outlook, forecasting weaker-thanexpected growth in the eurozone for the near term.

USDINR is expected to trade lower in today’s session.

Euro

EURUSD depreciated by 0.7 percent yesterday while EURINR appreciated by 0.9 percent during the same time frame.

Euro dipped after reports showed that its economy was closing stagnation in early 2019. Falling demand and businesses booking the weakest rise in output for five-and-a-half years added further pressure. Even the IHS Markit Eurozone Composite Purchasing Manager’s Index declined to 50.7 in January from 51.1 in December.

As per the expectation of the market the ECB kept the monetary policy unchanged, Mr. Draghi expressed greater concern over their economic condition and signalled towards a later rate hike. 

EURINR is expected to trade lower in today’s session.

GBP

GBP declined marginally against USD by 0.02 percent yesterday while GBPINR appreciated by 0.3 percent during the same time frame.

The sterling has been under pressure over recent weeks on the Brexit uncertainty, a period in which growing pessimism over the global economy pushed investors toward the safe-haven dollar. Since Prime Minister Theresa May's divorce deal with the EU was rejected by lawmakers last week in the biggest defeat in modern British history, lawmakers have been trying to plot a course out of the crisis, yet no option has the majority support of parliament.

GBPINR is expected to depreciate in today’s session.

 

To Read Complete Report & Disclaimer Click Here

 

Click here to open demat account

 

For More Angel Broking Pvt Ltd Disclaimer http://www.angelsecurities.in/disclaimer.aspx                     

 

Views express by all participants are for information & acadamic purpose only. Kindly read disclaimer before refering below views. Click Here For Disclaimer