Today’s focal point will be the unveiling of the European Central Bank (ECB) minutes and a panel discussion featuring President Christine Lagarde. Lagarde’s message on Wednesday appeared somewhat nuanced. While aligning with other ECB members in asserting that the market’s aggressive pricing of an ECB easing cycle could be counterproductive, she also indicated a potential rate cut in the summer. The ECB minutes might not provide much clarity on this apparent dilemma.

EUR/USD is anticipated to hover within a narrow range of 1.0880-1.0950 today, with our current forecast for the end of the first quarter remaining unchanged at 1.0800.