Dutch International: if the European Central Bank releases a strong signal to raise interest rates, the euro may benefit.

Analyst Chris Turner from the Netherlands International Group pointed out in a report that if the European Central Bank maintains interest rates on Thursday but indicates a high possibility of a rate hike in June, the Euro should receive support around current levels. He stated that the combination of weak growth triggered by the Iran war and high inflation - known as stagflation risk - has already begun to show in European data. Turner believes that the European Central Bank needs to "send a strong signal that a rate hike is being considered." If the European Central Bank shows any signs of ignoring the inflation spike caused by rising energy prices, the Euro could be negatively affected.