ING Economic and Financial Analysis

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...

Energy - Middle East tension builds Oil price action is fairly muted in early morning trading today considering developments in the Middle East over the weekend. The market had been expecting some...

Gold has started the new quarter by setting record after record. Its historic rally continues amid the prospect of monetary easing by major central banks and as tensions in the Middle East and Ukraine...

US inflation came in at 0.4% MoM for the third consecutive month, more than double the rate we need to consistently hit to bring inflation down to 2% YoY. Expectations for a June Federal Reserve...

Interest rate cut expectations have receded everywhere following the US inflation data, but there are subtle dovish incremental shifts within the BoC’s commentary that suggest should inflation...

Copper and iron ore prices are divergingPrices of copper and iron ore diverging quickly with copper prices surging above $9,000/t, while iron ore is trading closer to the $100/t level.China’s...