ECB: Strongly hawkish message needed to push EUR/USD through 1.11 – Scotiabank

Market news

4 May 2023

ECB: Strongly hawkish message needed to push EUR/USD through 1.11 – Scotiabank

EUR/USD is capped near 1.11 again ahead of the ECB policy decision. Economists at Scotiabank explain what is needed to lift the pair through 1.11.

Support aligns at 1.1000/10

“A clear message from President Lagarde that more hikes are coming should underpin the EUR but a strongly hawkish message might be needed to push EUR/USD through 1.11 and on to the 1.12 area at the moment.”

“Support is 1.1000/10 ahead of 1.0940/50.”

See: There is a risk that the hawkish ECB sends EUR/USD through 1.1100 – ING

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