Below you will find a very practical cheat sheet for the ING ECB:
ING BCE checklist (April 2024)
The bank believes EURUSD is expensive at current levels, but unless we get firm guidance for deeper cuts after June, the impact may be more short-lived. I share their feelings in this regard.
They believe the pair would need a stock sell-off as well as the official start of the ECB’s rate cut cycle to move lower.
There is a greater chance of moving towards 1.07 than a break above 1.09.
Personally, I think a lot of bad news is priced against the Euro, but time will tell.
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