ING Economic and Financial Analysis

USD: Dollar drop halted The dollar decline stalled yesterday in line with our expectations, and we still think there is not enough thrust from US data to justify a significantly weaker greenback just...

Energy – Chinese apparent oil demand falls US stock draws and growing expectations that the US Fed may start cutting rates soon continue to support the oil market. However, while macro...

Energy – growing divergence between OPEC & IEA demand numbers Oil prices edged higher yesterday. ICE (NYSE:ICE) Brent managed to settle 0.45% higher on the day and this strength has...

Energy - OPEC outlook unchanged Oil prices came under pressure yesterday. ICE (NYSE:ICE) Brent settled almost 1.2% lower on the day. Stronger-than-expected US PPI data raised doubts about how soon...

USD: PPI, Powell and NFIB in focus today The currency market is awaiting the next big move as the US calendar picks up. Since the weekend, we have seen a moderate risk-on bias in G10 FX, with the...

Energy - OPEC+ uncertainty Oil prices remain under pressure this morning after settling 1.3% lower on Friday. Confusion over OPEC+ supply cuts appears to have put pressure on oil prices. There were...

First quarter growth was massive The UK economy powered out of its technical recession in the first quarter, judging by the initial GDP figures released today. The economy expanded by a whapping...

USD: Dollar consolidation continues It has been a quiet week for the dollar. Last week's dovish FOMC/soft NFP combination has taken the sting out of the dollar upside. Yet investors remain wary that...

Copper hits a two-year high Copper prices have stood out over the last month with LME prices breaking above $10,000/t for the first time in two years. Concerns over tightness in global mine supply...

Energy - Russia denies OPEC+ considering supply increase Oil prices came under further pressure yesterday. ICE (NYSE:ICE) Brent briefly traded below US$83/bbl and to its lowest level since...

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...