ING Economic and Financial Analysis

USD: Softer NFP not enough to turn the dollar trend It looks like Friday's slightly softer US jobs report has been enough to put paid to any ideas of a Fed hike this year. And Fed officials have...

European natural gas injections slow in AprilEuropean natural gas prices saw a fair amount of volatility in April. TTF front-month futures traded from a little over EUR25/MWh at the start of April to...

Energy - TTF back above EUR30The oil market was little changed yesterday. ICE (NYSE:ICE) Brent continues to trade below US$84/bbl after settling 0.28% higher yesterday. It has been a bearish week for...

Energy - gas prices fall on warmer weather The oil market came under pressure yesterday with ICE (NYSE:ICE) Brent settling 1.23% lower on the day at US$88.40/bbl. The geopolitical risk premium...

Energy - Specs dump oil After a relatively strong end to the week the oil market has started the week under pressure. ICE (NYSE:ICE) Brent is trading back below US$89/bbl at the time of writing....

Energy – Bullish API report fails to lift sentiment Sentiment in the oil market remains soft, with prices for both ICE (NYSE:ICE) Brent and NYMEX WTI trading flat in the early trading session...

USD: Drop does not look too sustainable The dollar took a hit yesterday as US S&P Global PMIs came in weaker than expected. The composite index dropped to 50.9, with manufacturing moving back...

The Bank of England is turning dovishThe Bank of England is trying to tell us something, and markets are finally starting to take notice. Bank of England Governor Andrew Bailey has hammered home the...

USD: US GDP and PCE figures this week Weekend news has helped ease market-perceived geopolitical risk, and sentiment is generally supported across asset classes as the week starts. All interested...

USD: FX to trade only on geopolitics today It was reported overnight that Israel launched a retaliatory strike on the Iranian city of Isfahan. For now, it appears that Iranian media are downplaying...

USD: Asian FX an important driver Following the dollar surge on the back of the strong March CPI and retail sales data over the last week, attention this week has turned to the run-up in USD/Asia...

It's a stark fact: more than 80% of global goods trade is transported by sea. And any disruption in maritime trade can have a profound impact on the worldwide economy. The latest potential...

USD: Powell and carry trade unwind keep helping USD This week has so far seen the largest change in DXY weighted-average 3-month implied volatility since September 2023. That gauge has moved from the...

Energy - oil remains in limbo Oil prices settled marginally lower yesterday, although Brent has managed to stay just above US$90/bbl. The lack of direction in the market reflects the significant...

Energy - Oil market awaits Israel's response Oil prices settled lower yesterday despite the heightened tension in the Middle East following Iran’s missile and drone attack on Israel. The...

USD: The dollar has plenty going for it Instead of geopolitical risks, Monday's FX session was dominated by the very strong March US retail sales numbers. Consumption was meant to be the weak link in...