ING Economic and Financial Analysis

Crude oil extended its fall in the early trading session today as broader market concerns have weighed on the complex, while a stronger dollar has also added further pressure. Meanwhile, the...

The Federal Reserve lowered rates by 25bp as expected but trimmed its rate cut expectations for 2025, and this has weighed on the commodities complex. Meanwhile, a somewhat soft weekly oil inventory...

The Fed delivered a hawkish cut on Wednesday, signalling only 50bp of easing in 2025 and shifting to a more patient tone on easing. That has led to another US dollar rally, which we see extending...

We got another 25bp policy rate cut from the Fed, but updated projections and Chair Powell’s press conference confirm that the Fed is going to be much more cautious next year with sticky inflation...

The oil market has steadied after falling for two consecutive sessions as the latest inventory numbers from the American Petroleum Institute (API) remain largely supportive. Natural gas rallied after...

We expect the Federal Reserve to deliver a consensus 25bp cut on Wednesday, but also to scale back on guidance for rate cuts next year. We think this will allow the US dollar to stay firm into...

European gas prices came under further pressure as ongoing discussions on Russian gas flows via Ukraine, stronger LNG imports and milder weather forecasts eased any immediate supply concerns. Other...

US Dollar has continued to buck seasonal depreciating trends thanks to a still-high short-term swap rate. We expect a wait-and-see approach today ahead of the last key central bank events of the year...

Crude oil is trading with marginal losses this morning after settling higher at the end of last week. Concerns over waning demand in China have largely overshadowed the threats of tighter US and...

The US dollar is largely holding onto gains as this week’s US inflation data has come in on the firm side and kept USD rates supported. EUR/USD bears have also survived the ECB test, where Christine...

Oil prices have been better supported recently on the back of reports that the US is potentially looking to impose further sanctions against Russia, which could target oil Energy – Sanctions Risk Oil...

As year-end fast approaches, central banks make their final monetary policy adjustments. Canada delivered a 50bp rate cut yesterday, while Brazil delivered a 100bp hike – because fiscal policy is too...

US core inflation posted a fourth consecutive 0.3% print, showing that progress towards the Fed inflation goal has clearly stalled. Nonetheless, the Fed’s favored measure of inflation is doing a...

The global Crude Oil market is set to return to surplus in 2025 despite OPEC+ extending supply cuts. This surplus should see prices trending lower next year. However, there are risks 2025 oil...

Gold has had a record-breaking rally this year, supported by the Fed’s easing cycle, central bank purchases and safe-haven demand amid heightened geopolitical and economic risks. We believe the...

The US dollar has come back bid this week. Any upside surprise to today’s US November core CPI number would trigger another leg higher in the dollar – as would only a 25bp rate cut from the Bank of...