ING Economic and Financial Analysis

The dollar starts the week in a mixed fashion. USD/JPY is trading at a new corrective low, while EUR/USD continues to lick its wounds after a torrid session on Friday. The highlight of this week's...

US: trend towards weaker hiring in November jobs report expected We are building up to the Federal Reserve’s 13 December FOMC meeting, where the widely held view is that the central bank will...

By Benjamin Schroeder & Padhraic GarveyFinancial conditions eased markedly through November, as market rates fell and credit spreads tightened (record month for bond returns). The recessionary...

OPEC+ and soft eurozone inflation triggered a dollar rebound yesterday, but short-term rate spreads were already pointing to a weaker EUR/USD before then. Today, the focus will be on the US ISM...

What was agreed?After delaying their meeting due to a disagreement over 2024 production quotas for a handful of African members, OPEC+ finally met yesterday to discuss output policy for next year....

By Benjamin Schroeder & Padhraic GarveyThe rates rally found its confirmation in German and Spanish inflation data ahead of today's eurozone release, but finally seemed to pause after more hawkish...

The further decline in USD rates means that it will now be up to activity data to trigger a recovery in the dollar. We have a couple of days packed with important US releases into the weekend, as well...

In what we thought was going to be a quiet week for FX, the dollar has extended its recent losses. Driving those losses have been Fed speeches welcoming signs of slowing economic momentum and lower...

By Padhraic Garvey & Benjamin SchroederRates continue to push lower after a soft 7-year US Treasury auction as Federal Reserve officials offer little pushback against the market's pricing of rate...

Energy - Kazakh oil disruptions Metals – MMG Peru copper miners begin strike Agriculture – Cocoa jumps on supply woes Energy - Kazakh oil disruptions A move lower in treasury yields and...

EUR/USD is eyeing the key 1.10 level, but we suspect that any breaks above that level will prove unsustainable as the rates picture remains broadly supportive for the dollar until the US growth...

By Padhraic Garvey & Benjamin SchroederNothing like a few auctions to help test the temperature. Yields sailed lower yesterday through the 2-year and 5-year UST auctions, which did not help their...

Energy - Attention remains on OPEC+ Metals – Gold surges to six-month highs Agriculture – UNICA reports higher cane crush Energy - Attention remains on OPEC+ The oil market came under...

At the start of a quiet week for data, the dollar is hovering near recent lows. However, we do not think this is yet the start of the big, cyclical turn lower in the dollar we expect for next year....

Energy - OPEC+ makes progress Metals - Gold above $2,000 Agriculture– Solid Ukrainian grain harvest Energy - OPEC+ makes progress Sentiment in the oil market remains negative. ICE (NYSE:ICE)...

US: Closely following the ISM manufacturing index for any signs of a rebound Eurozone: Core inflation to continue improving to 4% Poland: We forecast a further decline in core inflation Hungary:...