EUR/USD could furthermore nudge closer to early February highs above 1.08 on hawkish ECB press convention – SocGen

EUR/USD built beneficial properties over 1.07. ECB forecast to raise charges 50 bps on Thursday and hawkish press convention by President Christine Lagarde could furthermore steal the pair above 1.08, economists at Société Générale file.

Fed repricing a risk for Euro bulls?

“It could per chance well furthermore be argued that a rebound in EGB yields and further tightening in US/EU spread could furthermore elicit further EUR/USD beneficial properties.”

“The ECB is now not going to shift down the tightening paddle on Thursday following events within the US. A 50 bps rate expand within the dep. rate to three% or 100 bps above the neutral rate is composed extremely possible.

“Steering within the observation on charges for 2Q (assembly-by assembly?), debate about speeding up of APP QT and updated forecasts for core inflation and wages could furthermore be key for rate spreads and the Euro.”

“A hawkish press convention could furthermore again nudge EUR/USD closer to the highs of early February above 1.08.”

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