Published on 19/09/2022 10:39:52 AM | Source: ICICI Direct

The Euro appreciated on Friday - ICICI Direct

Posted in Currency Report| #Currency Tips #ICICI Direct

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• Rupee future maturing on September 28 depreciated on Friday amid a sharp drop in domestic equities. However, weakness in US dollar index restricted further downsides

• The US dollar depreciated as the University of Michigan consumer sentiment for the US fell to 59.5 in September of 2022 compared to market forecasts of 60. Further, the dollar was pressurised by a drop in US 10 year’s treasury yields

• The Euro appreciated on Friday after data showed consumer prices in the euro area went up 0.6% MoM in August 2022, slightly higher than initial estimates of a 0.5% increase and compared to 0.1% rise in July. The biggest increase was seen in cost of processed food, alcohol and tobacco

• The pound dropped more than 0.40% amid weak retail sales data from Britain. Retail sales in the UK sank 1.6% MoM in August 2022, the biggest decline so far this year and following a 0.4% rise in July. Figures came much worse than market forecasts of a 0.5% drop


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