Last Updated : January 31, 2012 14:56
Euro likely to jump on positive global cues
The Euro depreciated around 0.7 percent in yesterday’s trading session on account of escalating concerns over Europe’s debt worries coupled with a stronger dollar.
Additionally, rise in risk aversion in the global markets also acted as a negative factor for the currency on Monday. The Euro touched an intra-day low of 1.3074 and ended at the level of 1.3131 yesterday.
Outlook
We expect the Euro to trade higher today on the back of upbeat sentiments in the global markets coupled with a weaker dollar.
However, concerns with respect to Euro Zone debt crisis still persist and any negative news or developments from the Euro Zone may lead to downside pressure on the currency
Courtesy: SMC Global
NCDEX PEPPERMALABARGARBLEJUL12 20 July 2012
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