EURO CAUTIOUS AHEAD OF INFLATION, EURINR FUTURES SLIGHTLY IN RED

Published on Jul 19, 2023 13:07

The Euro is turning cautious ahead of the release of the inflation numbers from the Eurozone. The EURUSD had hit a 15 month high above 1.1300 mark yesterday but seems to be poised for some losses now as the US dollar index has bounced near 100 mark. The EURUSD pair currently quotes at 1.1268, almost unchanged on the day. The single currency came off the highs yesterday following a decline in the 10-year German 10-year bund yield which tested Tuesday to a 2-week low. Some dampening comments from the European Central Bank or ECB Governing Council member Knot also capped upmove in the single currency as he stated that that interest rate hike by the ECB beyond July would at most be a possibility but by no means a certainty. The EURINR futures on the NSE have turned marginally weak and currently trade at 92.24, down 0.09% on the day.