Euro gains ground ahead of Christine Lagarde's speech

Euro rose in European trade against a basket of major rivals for the fifth straight session, clinging once more above parity following remarks by ECB members. 

Now investors await ECB President Christine Lagarde's speech later today, searching for clues on the future of monetary policies and interest rates in the euro zone. 

EUR/USD rose 0.3% on Tuesday to 1.0050, after closing up 0.1% yesterday, the fourth profit in a row after bullish remarks by ECB policymakers. 

Statements 

Several ECB members believe further rate hikes by the ECB are upcoming in the new few months, but they'll depend on euro zone data.

The ECB doesn't target forex valuation according to members, but it's always looked on carefully to gauge its impact on other aspects of economy. 

Christine Lagarde 

ECB President Christine Lagarde is due to speak at an event hosted by the Frankfurt Society for Trade, Industry, and Science, and she's expected to provide clues on the future of inflation and monetary policies.