TD Research discusses its expectations for next week's ECB June policy meeting.

"We expect the ECB to announce that the APP will end within weeks, and send a strong signal that rate hikes are coming in July and September. Forecasts will show stronger inflation and weaker growth, highlighting the ECB's challenge going forward," TD notes. 

"EURUSD has put in good work to rally from near multi-year lows. But, with the euribor curve already reflecting the ECB's most likely scenario for tightening, scope for EURUSD gains remain limited from here," TD adds.