EURO MANAGES TO SEE SOME SUPPORT, FUTURES HOLD ABOVE 91 MARK AGAINST INR

Published on Aug 09, 2023 16:07

Euro edged up a bit today against the US dollar but continued to hover around 1.1000 mark as market braced for the US inflation figures and the economic bulletin from the European Central Bank tomorrow. The Euro has been maintaining a right range this week despite tepid German economic cues. German industrial production declined by 1.5% in June compared to the previous month, according to data released on Monday. This drop highlights the difficulties faced by the manufacturing sector amidst a downturn in Europe`s largest economy. However, the single currency has seen good support coming in under 1.1000 mark and currently quotes around the same level, up 0.16% on the day. On the NSE, the EURINR futures are up 0.19% at 91.06.