ING Economic and Financial Analysis

We could see pressure building for additional monetary tightening in some APAC economies in the coming week. Meanwhile, North Asia (ex-China) delivers the monthly activity data dump which should show...

Data suggests sudden tightening of GBP liquidity conditions The Sterling Overnight Index Average (SONIA) benchmark rate has been creeping up since the beginning of the year, and the recent value of...

Oil is down, and so is copper after hitting record highs in May. Natural gas prices, however, continue to be supported by supply concerns. Oil market in deficit for the remainder of 2024 Oil prices...

A surprise 0.2% MoM core CPI inflation print after a similar reading for April core PCE deflator offers good news for the Fed in its fight to ease price pressures. This needs to become the trend...

Energy – Oil sell-off overdone Sentiment in the oil market continues to weaken. ICE Brent came under further pressure yesterday, settling more than 1% lower and taking prices below $78/bbl. A...

What did OPEC+ agree? OPEC+ members met over the weekend to discuss production policy for the remainder of this year and 2025. It was a hybrid meeting with the wider group attending by video...

Markets have barely reacted to the election announcement UK Prime Minister Rishi Sunak has caught the country by surprise and called a snap election for 4 July, setting the scene for a short and...

USD: Minutes boost may not last The 1 May FOMC minutes, released yesterday, surprised on the hawkish side and bolstered the dollar. While the general view was that policy was “well...

Energy - supply risks push European gas higher European natural gas prices have hit their highest level since January. TTF prices settled 4.2% higher yesterday at almost EUR34.39/MWh. This is after...

USD: Waller not as hawkish as it seemed The dollar awaits any domestic input to make the first move, and domestic stories are taking centre stage. We are even more convinced the Bank of Canada will...

Headline inflation is virtually back to targetIt’s no exaggeration to say that this week’s UK inflation data will make or break a June rate cut from the Bank of England. Markets are...

USD: Watch for a rising USD/JPY May has so far brought a weak dollar, strong risk sentiment, and growing expectations for Federal Reserve easing. A data-gripped market may, however, need to find the...

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...