Monday, 16 January 2017

EURINR is expected to trade lower

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Euro currency, in the international market traded higher by 1.04 percent in the last week owing to lower DX. Moreover, the World Bank reduced the growth forecast of Euro area to 1.5 percent from previous forecast of 1.6 percent. Despite the fractional reduction in growth, economic indicators of the Euro area points towards gradually recovery of the economy after enduring years of stagnant growth in the wake of the 2008 financial crisis and the subsequent Greek debt crisis. In today’s trading session, EURINR is expected to trade lower as lack of important economic datasets from the Euro area will keep the trading volumes a bit light.

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