ING Economic and Financial Analysis Analysis & Comment

FX Daily: Is Less Growth Pessimism Enough? By ING Economic and Financial Analysis - Nov 24, 2023

USD: Half-day trading EUR: Dealing with slightly better PMIs GBP: More downside room for EUR/GBP CEE: Possible improvement in the rating outlook for the Czech Republic USD: Half-day trading US...

FX Daily: No Turkey for Dollar Bears By Frantisek Taborsky - Nov 23, 2023

The Thanksgiving holiday means thin volumes and no US data releases today. We expect some stabilization in EUR/USD after strong jobless claims fuelled the dollar rebound. Still, eurozone PMIs might...

The Commodities Feed: OPEC+ Meeting Delayed By ING Economic and Financial Analysis - Nov 23, 2023

Energy - OPEC+ meeting delayed Metals – LME on-warrant zinc stockpiles rise Agriculture – Ukrainian grain exports remain under pressure Energy - OPEC+ meeting delayed Disagreement has...

FX Daily: Hard to Get Excited by the Same Story By ING Economic and Financial Analysis - Nov 22, 2023

USD: Consolidation continues EUR: German debt brake causes some headaches GBP: Focus on the autumn statement HUF: Central bank cuts as expected, good news for FX USD: Consolidation continues Federal...

FX Daily: Renminbi Shorts on the Run By Chris Turner - Nov 21, 2023

A softer dollar environment has seen Chinese authorities turn the screws on those with short renminbi positions. Look for further dollar weakness today given the risk of the lowest US existing home...

The Commodities Feed: USD Supports the Complex By ING Economic and Financial Analysis - Nov 21, 2023

Energy - USD pushes oil higher The oil market managed further gains yesterday. ICE (NYSE:ICE) Brent settled 2.12% higher on the day. Growing expectations that we will see some action taken by OPEC+...

FX Daily: Bearish Unwind Into Thanksgiving By ING Economic and Financial Analysis - Nov 20, 2023

USD: Thanksgiving uniwnd EUR: Good tidings from Moody's GBP: Focus on tax cuts CEE: Mixed picture for the FX in the region USD: Thanksgiving uniwnd The dollar has fallen nearly 2% since last...

Limited Room for Tax Changes as UK Chancellor Gets Set to Unveil Autumn Statement By ING Economic and Financial Analysis - Nov 17, 2023

The chancellor is poised to get extra wiggle room "Headroom" is higher, but still limited Medium-term spending plans look challenging Modest tax cuts possible, but it wouldn't move the needle much for...

EU Carbon Hits Year-to-Date Lows By ING Economic and Financial Analysis - Nov 17, 2023

EUAs fall on demand pressures Front loading of allowances doesn’t help Shipping falls under ETS from 2024 CBAM reporting gets underway EUA Dec-23 price (EUR/t)EUAs fall on demand pressuresIn...

FX Daily: Consolidative Phase By Frantisek Taborsky - Nov 17, 2023

The dollar has entered a consolidative phase, but yesterday’s price action gave us a glimpse of what could be more regular price action next year. EUR/USD got a brief lift yesterday from the...

Rates Spark: Back to Competing Narratives By ING Economic and Financial Analysis - Nov 17, 2023

By Benjamin Schroeder and Padhraic GarveyWhile the market is clearly eyeing a change in the rate cycle, 10-year UST yields are still fighting a battle along the 4.5% area, with the deficit-induced...

The Commodities Feed: Oil Plummets By ING Economic and Financial Analysis - Nov 17, 2023

Energy - Oil weakness increases likelihood of Saudi extension Metals – LME zinc on-warrant stocks rise Agriculture – IGC raises grain production estimates Energy - Oil weakness increases...

FX Daily: Government Shutdown Averted By ING Economic and Financial Analysis - Nov 16, 2023 2

USD: Bouncing around EUR: No news is good news GBP: Softening on the crosses BRL: Focusing on the fiscal USD: Bouncing around The dollar is drifting higher as investors continue to assess whether the...

The Commodities Feed: US Crude Oil Inventories Grow By ING Economic and Financial Analysis - Nov 16, 2023

Energy - US crude inventories increase Metals – China’s steel output falls Agriculture – ISO cuts global sugar deficit estimate Energy - US crude inventories increase Oil came...

Rates Spark: Shifting the Rate Cycle Discount By ING Economic and Financial Analysis - Nov 15, 2023

By Padhraic Garvey & Benjamin SchroederHow convinced are we that the Fed has peaked? You can never be 100% sure on this, but the odds firmly favor the view that they’re done. That places...

FX Daily: Dollar Bears May Have Jumped the Gun By ING Economic and Financial Analysis - Nov 15, 2023

USD: Dollar slump looks overdone EUR: Eurozone tiptoeing into slightly better data GBP: Softer services inflation rules out BoE December surprise CEE: Good news for PLN, not that much for CZK USD:...

Rates Spark: CPI Improvements By ING Economic and Financial Analysis - Nov 14, 2023

By Benjamin Schroeder and Padhraic GarveyThe tension between markets eyeing a change in the rating cycle discount and central banks pushing back should raise volatility. Today's US CPI can provide the...