| Statistics as on 25.11.2017 | ||
Description
|
Currency | Values |
| USD vs INR | 64.67 | |
Euro vs INR
|
77.16 | |
| Euro vs USD | 1.193 | |
Gold / 10 gram
|
INR |
29,373
|
Sensex
|
33,679
|
|
Crude Oil WTI (NYMEX)
|
USD
|
58.97
|
There has been a sharp appreciation of Euro against the US Dollar, hitting a 2 months high against the US DOllar. Is the Euro set to scale new heights against the US Dollar before the end of this year?
 |
Euro vs US Dollar
|
The answer is yes, with business confidence high in Euro zone especially in Germany & with a solution in sight for formation of new Government in Germany, Euro is set to move up further. Munich based IFO institute in its press release on Friday says "The ifo Business Climate Index rose to a new record high of 117.5....This was due to far more optimistic business expectations.....The German economy is on track for a boom. The latest figures indicate economic growth of 0.7 percent in the fourth quarter, pointing to growth of 2.3 percent for 2017 as a whole. " There has also been bullish actions on all major stock exchanges in Europe through the week (France, Germany, Spain).
The US Dollar is also not helping itself and it is extending losses against major currencies including Euro mainly due to concern of low inflation and consequent delays in rate increase.
Euro will cross 1.20 if sentiments in Europe and political situation (especially Germany) continues to improve
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