ING Economic and Financial Analysis Analysis & Comment

FX Daily: This is Not a June Reboot By ING Economic and Financial Analysis - Sep 25, 2023

USD: End of a strong quarter EUR: Focus on inflation this week GBP: Weak PMIs suggest rates have peaked CEE: Hawkish central banks fight dovish expectations USD: End of a strong quarter This week will...

The Commodities Feed: Oil Fundamentals Remain Supportive By ING Economic and Financial Analysis - Sep 25, 2023

Energy - Speculative appetite grows The oil market has held relatively steady in recent days with tightness in the physical market coupled with Russia’s recent export ban on diesel and...

Copper Prices Slump as LME Stocks Continue to Pile Up By ING Economic and Financial Analysis - Sep 22, 2023 2

LME copper stocks doubleCopper stocks held on the London Metal Exchange (LME) have more than doubled in the space of two months. This shows clear signals of weakening demand. Inventories of the red...

FX Daily: Re-Pricing for a World of Higher US Rates By ING Economic and Financial Analysis - Sep 22, 2023

USD: 4.50% on the US 10-year yield could pressure risk assets EUR: More pain from the PMIs? GBP: Most of the short-term repricing is done EM: Good news for India, bad news for Egypt USD: 4.50% on the...

Rates Spark: Still Upside After a Hawkish Fed, BoE Next By ING Economic and Financial Analysis - Sep 21, 2023

The 10Y UST yield still has upside. The 2Y looks fine as is The BoE decision has become a closer call than anticipated Today’s events and market view The 10Y UST yield still has upside. The 2Y...

FX Daily: A pre-scripted FOMC Meeting, but Watch the 2024 Dot Plot By ING Economic and Financial Analysis - Sep 20, 2023

USD: FOMC won't be a huge event for the dollar EUR: Might slip back to 1.0600 in a hawkish Fed surprise scenario GBP: Big CPI miss makes tomorrow's BoE meeting an even closer call BRL: BCB to deliver...

FX Daily: One Last Quiet Day By ING Economic and Financial Analysis - Sep 19, 2023

USD: Positioning consolidates in favour of dollar ahead of key events EUR: ECB addressing excess liquidity? GBP: Underperforming into the BoE CAD: Inflation data important after strong jobs...

The Commodities Feed: Why Oil Could Soon Hit $100 a Barrel By ING Economic and Financial Analysis - Sep 19, 2023

Energy: Brent timespreads strengthen Oil prices remain well supported, with ICE (NYSE:ICE) Brent edging closer towards US$95/bbl as the market continues to become increasingly concerned over the...

Why the Bank of England Might not Raise Rates on Thursday By ING Economic and Financial Analysis - Sep 18, 2023 1

We're expecting one final rate hike from the Bank of England this week with wage growth and inflation both proving stubborn. But recent comments show the Bank is laying the ground for a pause, and...

FX Daily: Up and Down - a Big Week for Policy Rates and Currencies By ING Economic and Financial Analysis - Sep 18, 2023

USD: Dollar looks likely to hold gains EUR: Soft week culminates in the flash September PMIs GBP: 25bp BoE hike widely expected on Thursday CEE: CNB's last words before blackout period USD: Dollar...

Key Events in Developed Markets Next Week By ING Economic and Financial Analysis - Sep 15, 2023 2

US: We except to see the Fed leave interest rates on hold UK: Bank of England to hike rates further, but don’t rule out a pause Sweden: Riksbank set for a further 25bp rate hike Norway: Norges...

ECB Cheat Sheet: Is a Hike Hawkish Enough? By Francesco Pesole - Sep 12, 2023

Markets are torn. Will the ECB hike this week or not? We think it will, but we look at how different scenarios can impact rates and FX. Even in our base case, we suspect that convincing markets that...

FX Daily: Muddling Through By ING Economic and Financial Analysis - Sep 12, 2023

USD: Focusing on OPEC production figures and the NFIB survey today EUR: Propped up into Thursday's ECB GBP: Wage data not as hawkish as it looks KRW: The benefits of deliverability USD: Focusing on...

The Commodities Feed: Oil Remains Well Supported By ING Economic and Financial Analysis - Sep 12, 2023 2

Energy - Middle distillate strength The oil market ended little changed yesterday with ICE (NYSE:ICE) Brent still hovering above US$90/bbl. The tightness in the market and expectations that this...

FX Daily: Hawkish Vibes From Asia By ING Economic and Financial Analysis - Sep 11, 2023

USD: BoJ and PBOC drive dollar lower EUR: Some support before the ECB GBP: Data check this week NOK: Inflation slowdown not too important USD: BoJ and PBOC drive dollar lower The seemingly...

Key Events in Developed Markets and EMEA Next Week By ING Economic and Financial Analysis - Sep 08, 2023

US: The general theme likely to be higher inflationIt is a very big week for US data as the last major reports ahead of the Federal Reserve’s September FOMC meeting come in. Consumer and...

The Commodities Feed: Strong Chinese Oil Imports By ING Economic and Financial Analysis - Sep 08, 2023

Energy - LNG strike action set to start Metals – China’s gold reserve increase further Agriculture – Thai sugar output to drop Energy - LNG strike action set to start The rally in...