ING Economic and Financial Analysis

The luxury of labour hoarding is coming to an end in the eurozone as corporate profits dwindle. And that’s going to mean wage growth will ease, unemployment will tick up and we’ll see more...

Energy – API reports oil inventory draws NYMEX WTI hovered near $70/bbl while ICE (NYSE:ICE) Brent was trading just below $75/bbl this morning as market participants await fresh updates from the...

USD: Solid momentum The sharp drop in oil prices has been the biggest market story this week. Yesterday, the Israeli prime minister said the country is considering US concerns when planning a...

UK services inflation has fallen below 5% for the first time since May 2022 and that’s potentially big news for the Bank of England. Remember this is, by some distance, the most important input into...

Energy - Brent falls below US$75/bbl ICE (NYSE:ICE) Brent extended its decline for a third straight session with prices falling sharply by almost 4% in the early trading session today as the risk...

USD: Range-bound Casting around the globe to identify key FX drivers, we note the following: Saturday's China fiscal stimulus measures lack detail, oil is steady as markets await Israel's...

The only game in town It seems to me that the global economy is mainly driven by politics these days. You've got escalating conflict in the Middle East and stalemate in Ukraine. And all that's...

USD: Awaiting the Fed minutes The dollar is staying relatively bid as the market digests the factors that have driven it 2% higher this month. These have largely been the intensifying conflict in...

Energy – Saudi raises OSPs for Asian buyers Oil prices eased this morning as traders await new developments in the Middle East. US President Joe Biden is reportedly discouraging Israel from...

Oil prices firm amid growing supply risks ICE Brent is trading more than 8% higher than it was before Iran’s missile attack on Israel. However, the bulk of this move occurred on Thursday after...

Energy – Supply risks build Oil prices rallied yesterday and this strength has continued in early morning trading today following Iran’s missile attack on Israel overnight. ICE Brent settled almost...

USD: Downside risks from data this week China’s steps to support the housing and stock market have led to a rush to buy Chinese stocks this morning, ahead of the National Day 1-7 October holiday....

As the metals market enters the last quarter of what has been another turbulent year, the industry prepares to gather in London for a week of meetings and contract negotiations. Although the macro...

Energy – Oil sell-off continues Oil prices continued to trade lower this morning extending yesterday’s sharp decline. NYMEX WTI prices fell below US$68/bbl while ICE (NYSE:ICE) Brent was trading...

Energy – Bullish API numbers ICE (NYSE:ICE) Brent prices are unchanged as the market cautiously evaluates the Middle East scenarios. Recent reports suggest that tropical storm Helene strengthened...

USD: Reflationary policies are a mild dollar negative The top news this European morning is a package of monetary easing measures delivered by Chinese authorities overnight. Our Chief Economist for...