FX BANK FORECAST · COVERAGE
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Live cross-firm bank consensus across 30 desks — FX, oil & gold
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Speech by Mr Gabriel Makhlouf, Governor of the Central Bank of Ireland, at the AFME European Financial Integration Conference, Frankfurt am Main, 19 May 2026.
The desk interprets Luis de Guindos' recent remarks on financial integration as a pivotal moment for the Eurozone, suggesting that enhanced financial cohesion will be crucial for sustaining economic growth. Per the full note [source], Guindos emphasized the need for deeper integration to bolster Europe's resilience against external shocks, which aligns with our view of a strengthening euro. With the ECB's commitment to maintaining accommodative monetary policy, we expect upward pressure on the euro, particularly against the USD. The consensus target for EUR/USD is 1.075, with a range reflecting differing outlooks on growth and inflation dynamics.