ING Economic and Financial Analysis

Markets have barely reacted to the election announcement UK Prime Minister Rishi Sunak has caught the country by surprise and called a snap election for 4 July, setting the scene for a short and...

USD: Minutes boost may not last The 1 May FOMC minutes, released yesterday, surprised on the hawkish side and bolstered the dollar. While the general view was that policy was “well...

Energy - supply risks push European gas higher European natural gas prices have hit their highest level since January. TTF prices settled 4.2% higher yesterday at almost EUR34.39/MWh. This is after...

USD: Waller not as hawkish as it seemed The dollar awaits any domestic input to make the first move, and domestic stories are taking centre stage. We are even more convinced the Bank of Canada will...

Headline inflation is virtually back to targetIt’s no exaggeration to say that this week’s UK inflation data will make or break a June rate cut from the Bank of England. Markets are...

USD: Watch for a rising USD/JPY May has so far brought a weak dollar, strong risk sentiment, and growing expectations for Federal Reserve easing. A data-gripped market may, however, need to find the...

USD: Dollar drop halted The dollar decline stalled yesterday in line with our expectations, and we still think there is not enough thrust from US data to justify a significantly weaker greenback just...

Energy – Chinese apparent oil demand falls US stock draws and growing expectations that the US Fed may start cutting rates soon continue to support the oil market. However, while macro...

Energy – growing divergence between OPEC & IEA demand numbers Oil prices edged higher yesterday. ICE (NYSE:ICE) Brent managed to settle 0.45% higher on the day and this strength has...

Energy - OPEC outlook unchanged Oil prices came under pressure yesterday. ICE (NYSE:ICE) Brent settled almost 1.2% lower on the day. Stronger-than-expected US PPI data raised doubts about how soon...

USD: PPI, Powell and NFIB in focus today The currency market is awaiting the next big move as the US calendar picks up. Since the weekend, we have seen a moderate risk-on bias in G10 FX, with the...

Energy - OPEC+ uncertainty Oil prices remain under pressure this morning after settling 1.3% lower on Friday. Confusion over OPEC+ supply cuts appears to have put pressure on oil prices. There were...

First quarter growth was massive The UK economy powered out of its technical recession in the first quarter, judging by the initial GDP figures released today. The economy expanded by a whapping...

USD: Dollar consolidation continues It has been a quiet week for the dollar. Last week's dovish FOMC/soft NFP combination has taken the sting out of the dollar upside. Yet investors remain wary that...

Copper hits a two-year high Copper prices have stood out over the last month with LME prices breaking above $10,000/t for the first time in two years. Concerns over tightness in global mine supply...

Energy - Russia denies OPEC+ considering supply increase Oil prices came under further pressure yesterday. ICE (NYSE:ICE) Brent briefly traded below US$83/bbl and to its lowest level since...