# EUR/USD Soars as Lagarde Talks Up Hikes, Says ECB Will Exit Negative Rates in Q3 | Forex trading, free forex education | Forex.ca

> EUR/USD rose about 1.1% to 1.0670 on May 23, 2022, its best level in nearly four weeks, after ECB President Lagarde indicated net asset purchases would end very early in the third quarter. She also said a rate lift-off would start in July, with the bank exiting negative rates by September. The move was also supported by broad dollar weakness.

- Date: 2022-05-23 · published 2022-05-23T12:00:00.000Z
- Category: macro · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/12692-eur-usd-soars-as-lagarde-talks-up-hikes-says-ecb-will-exit-negative-rates-in-q3
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A clear ECB hiking path and a weaker dollar shift currency flows that affect the relative cost of US and other dollar-priced commodities for euro-area importers. The change is a macro driver that can influence feed import costs.

## Read by commodity

- DXY: bearish ▼
- EURUSD: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| EURUSD | 2022-05-23 | 5 | +2.4% | 2.8 | Lagarde's hawkish guidance of a July lift-off and an exit from negative rates by September drove EUR/USD to a four-week high on May 23, with broad dollar weakness adding to the move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2022-01-31 | [Euro Jumps Ahead of EU GDP and German CPI as US Dollar Pauses. Where to for EUR/USD? \| Forex trading, free forex education \| Forex.ca](https://feedsoft.ai/events/43342-euro-jumps-ahead-of-eu-gdp-and-german-cpi-as-us-dollar-pauses-where-to-for-eur.md) | +2.6% | +0.6% |
| EURUSD | 2022-01-25 | [Euro Forecasts Upgraded at Deutsche Bank, says ECB to Hike Rates in December](https://feedsoft.ai/events/43345-euro-forecasts-upgraded-at-deutsche-bank-says-ecb-to-hike-rates-in-december.md) | -0.9% | +0.3% |
| EURUSD | 2023-12-14 | [ECB Keep Rates Steady with Tentative Inflation Downgrades, EUR/USD Rises](https://feedsoft.ai/events/8302-ecb-keep-rates-steady-with-tentative-inflation-downgrades-eur-usd-rises.md) | +1.5% | +1.5% |
| EURUSD | 2025-12-18 | [EUR/USD rebounds as ECB holds rates and US inflation cools](https://feedsoft.ai/events/21719-eur-usd-rebounds-as-ecb-holds-rates-and-us-inflation-cools.md) | +0.3% | -1.3% |
| EURUSD | 2020-09-10 | [Euro advances after ECB's Lagarde says exchange rate not being targeted \| Financial Post](https://feedsoft.ai/events/51330-euro-advances-after-ecb-s-lagarde-says-exchange-rate-not-being-targeted.md) | +0.2% | -0.4% |
| DXY | 2021-07-27 | [USD/JPY Drops on Haven Flows as Traders Brace for FOMC \| Forex trading, free forex education \| Forex.ca](https://feedsoft.ai/events/46302-usd-jpy-drops-on-haven-flows-as-traders-brace-for-fomc-forex-trading-free-forex.md) | -0.5% | +0.6% |
| DXY | 2022-01-31 | [Euro Jumps Ahead of EU GDP and German CPI as US Dollar Pauses. Where to for EUR/USD? \| Forex trading, free forex education \| Forex.ca](https://feedsoft.ai/events/43342-euro-jumps-ahead-of-eu-gdp-and-german-cpi-as-us-dollar-pauses-where-to-for-eur.md) | -0.8% | -0.7% |
| DXY | 2021-07-29 | [USD/MXN Falls On Dovish Fed and U.S. GDP Data Miss \| Forex trading, free forex education \| Forex.ca](https://feedsoft.ai/events/46278-usd-mxn-falls-on-dovish-fed-and-u-s-gdp-data-miss-forex-trading-free-forex.md) | -0.3% | +0.4% |

## Sources

- forex.ca: https://www.forex.ca/eur-usd-soars-as-lagarde-talks-up-hikes-says-ecb-will-exit-negative-rates-in-q3/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.