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EURINR Intraday Outlook : 3.4.2017

EURINR Intraday Outlook : 3.4.2017
NIFTY FUT  TREND             : BUY ZONE
BANKNIFTY FUT  TREND  : BUY ZONE


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EURO is trading at 1.0680, after being topped at 1.0700 in Friday’s session. Despite lower German unemployment and good uptick in retail sales data we have seen the euro to reverse sharply from the levels of 1.0705 to a low of 1.0645, with concern shifting towards the first round of the French election as well as the inflation which is moving in the wrong direction with CPI slowing to 1.5% from 2%. Now the key focus in April would be upcoming French elections and so far it appears that Emmanuel Macron holds a comfortable lead over Marine Le Pen. With 23rd April coming closer, the euro’s volatility to the French polls to increase significantly. Today, in terms of economic data we have Eurozones Manufacturing PMI, Unemployment rate and German Manufacturing PMI to be reported. Expect EUR/USD to trade sideways ahead of French elections.