ING Economic and Financial Analysis

USD: Beige Book is probably the biggest threat to the dollar FX markets seem to be positioning for a Trump victory in next month's US presidential election. October seems to have been a good month...

Metals – Gold breaks above $2,700 for first time Gold broke above $2,700/oz for the first time amid concerns over escalating tensions in the Middle East and ahead of the US election. Traders are...

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...

Crude oil is trading flat this morning as the market remains cautious amid the developing situation in the Middle East, although demand concerns remain. Meanwhile, a constructive report by the...

As we had expected, the BoJ raised its policy rate to 0.25% and announced the JGB purchases would be halved by 1Q26. The growth outlook was trimmed modestly for FY24 while the inflation outlook...

Eurozone data continues to challenge the European Central Bank, with German economic contraction and sticky CPI complicating matters. Meanwhile, the Germany 10-Year-United States 10-Year spread has...

Crude oil traded higher this morning on rising geopolitical conflicts in the Middle East. A constructive API report also further helped to lift sentiment in the oil market Energy – Oil risk Premium...

With favorable economic data providing officials with greater confidence that US inflation is moving steadily along the right path, we think that Wednesday’s FOMC meeting should offer a clearer hint...

The big question for FX markets is whether July’s sharp correction is over. We think events tomorrow (Bank of Japan and Fed meetings) will have a big say. Before then, US JOLTS and consumer...

Brent broke below $80/bbl for the first time since early June as demand concerns linger Energy – Brent Tumbles Below $80/bbl Oil prices have come under further pressure as bearish sentiment has hit...

Oil prices have come under pressure due to lingering demand concerns, while the copper market has weakened further on the back of rising inventories Energy – Russian Crude Transit Issues Oil prices...

Oil prices continue to trade in a range. Chinese demand concerns continue to cap prices, while Canadian supply risks have reinforced the floor for the market Energy – Canada Wildfire Risk Grows The...

We could see pressure building for additional monetary tightening in some APAC economies in the coming week. Meanwhile, North Asia (ex-China) delivers the monthly activity data dump which should show...

Oil is down, and so is copper after hitting record highs in May. Natural gas prices, however, continue to be supported by supply concerns. Oil market in deficit for the remainder of 2024 Oil prices...

A surprise 0.2% MoM core CPI inflation print after a similar reading for April core PCE deflator offers good news for the Fed in its fight to ease price pressures. This needs to become the trend...

US inflation came in at 0.4% MoM for the third consecutive month, more than double the rate we need to consistently hit to bring inflation down to 2% YoY. Expectations for a June Federal Reserve...