ING Economic and Financial Analysis Analysis & Comment

FX Daily: Fed Pause Renews Interest in the Carry Trade By ING Economic and Financial Analysis - Nov 02, 2023

USD: Investors look set to explore the Fed pause EUR: Global environment delivers a reprieve GBP: BoE to keep rates high for 'sufficiently long' CZK: CNB to start its cutting cycle USD: Investors...

The Commodities Feed: Central Banks Increase Gold Reserves By ING Economic and Financial Analysis - Nov 01, 2023 1

Energy – US oil inventory increased over last week Metals – Central banks’ gold purchases increase in third quarter Agriculture – India sugar production to fall 8% YoY in...

The Commodities Feed: Lingering Supply Risks By ING Economic and Financial Analysis - Oct 31, 2023

Energy - supply risks remain Metals – Iron ore supply risks Agriculture - US harvest progress Energy - supply risks remain The oil market came under significant pressure yesterday with ICE...

FX Daily: Strong Dollar Could be Challenged by Asia this Week By ING Economic and Financial Analysis - Oct 30, 2023

USD: Gearing up to Wednesday's FOMC meeting EUR: GDP data could take its toll GBP: On the soft side into BoE CEE: CNB starting its cutting cycle, inflation in Poland USD: Gearing up to Wednesday's...

Key Events in Developed Markets Next Week By ING Economic and Financial Analysis - Oct 27, 2023

US: Federal Reserve policy meeting in focus Eurozone: Inflation and GDP figures UK: Bank of England set for second consecutive pause Norway: Norges Bank to pause, but December rate hike remains the...

Four Scenarios for Thursday’s Bank of England Meeting, with Another Pause Likely By ING Economic and Financial Analysis - Oct 27, 2023

Expect another on-hold decision from the Bank of England "Higher for longer" set to remain the key message We expect rate cuts from next summer Gilt and sterling implications Four scenarios for the...

FX Daily: Stark Growth Gap Makes the Dollar Even Harder to Sell By ING Economic and Financial Analysis - Oct 27, 2023

USD: Growth and rates gap more and more favourable EUR: Downside risks after a non-eventful ECB GBP: Swinging rate differentials SEK: FX sales to slow, but may still be too high for comfort USD:...

The Commodities Feed | Operational Issues Tighten Copper Supply By ING Economic and Financial Analysis - Oct 26, 2023

Energy: EIA reports inventory gain for the week Metals: Downside revision in copper production guidance Agriculture: UNICA reports higher cane crush Energy: EIA reports inventory gain for the...

The Commodities Feed: Risk Premium for Oil Diminishes By ING Economic and Financial Analysis - Oct 25, 2023

Energy – Risk premium diminishes Metals – China announces supportive measures Agriculture – European wheat shipments remain soft Energy – Risk premium diminishes ICE...

FX Daily: Bond Rally Provides Temporary Reprieve to FX Markets By ING Economic and Financial Analysis - Oct 24, 2023 1

USD: How far will the dollar correction run? EUR: Can the euro survive today's data? GBP: Focus on services PMI today CEE: NBH starting second phase of cutting cycle USD: How far will the dollar...

FX Daily: Growth Differentials on Show This Week By ING Economic and Financial Analysis - Oct 23, 2023

USD: Don't argue with the dollar EUR: Soft confidence data to greet the ECB GBP: Tax cuts floated? CEE: NBH to cut base rate, CNB one step closer to first cut USD: Don't argue with the dollar The...

The Commodities Feed: Geopolitical Risks Linger By ING Economic and Financial Analysis - Oct 23, 2023 1

Energy – Speculators boost net long in oil Metals – Gold rally continues on safe haven demand Agriculture – Wheat supply concerns Energy – Speculators boost net long in...

Key Events in Developed Markets Next Week By ING Economic and Financial Analysis - Oct 20, 2023 1

US: Third-quarter GDP growth to come in at around 4% Eurozone: Broad consensus is for no hike as the ECB has already reached a record high UK: Jobs data and PMIs in focus as BoE is set for November...

FX Daily: Dollar Showing Texbook Overbought Behaviour By ING Economic and Financial Analysis - Oct 20, 2023

USD: Still many upside risks Markets have continued to receive evidence of US economic resilience, this time in the jobs sector as initial jobless claims surprised again to the downside and broke...

The Commodities Feed: Strong Chinese Oil Demand By ING Economic and Financial Analysis - Oct 19, 2023

Energy – Constructive EIA inventory report Growing tension in the Middle East continues to support oil prices, with ICE (NYSE:ICE) Brent settling 1.78% higher yesterday at US$91.50/bbl after...

FX Daily: Peak Optimism Versus Peak Pessimism By ING Economic and Financial Analysis - Oct 18, 2023

USD: Only a positioning tilt? The strength in US activity data appears relentless, with yesterday’s retail sales figures for September smashing estimates (0.7% month-on-month) while the August...

FX Daily: Consumer Resilience to Test the Dollar Today By ING Economic and Financial Analysis - Oct 17, 2023

USD: Will US retail sales slow and will the dollar soften? EUR: Probably trapped in tight ranges GBP: Wages heading in the right direction for the BoE CAD: BoC might be more tolerant of inflation...