ING Economic and Financial Analysis

"Little reason to leave the US dollar now" After a brief sell-off on Friday’s US jobs report, the dollar has returned bid. Helping that trend is geopolitics (Korean markets remain unsettled) and a...

The week culminates in today’s November NFP jobs report. Given expectations of a bounce back after last month’s weather and strike-hit figure of +12k, the market now probably sees less than 200k as a...

A handful of OPEC+ members decided to extend supply cuts into next year and also slow the pace at which they will bring supply back onto the market. While this move reduces the scale of the surplus...

If US exceptionalism and the potential for a second Trump administration weren’t enough to hold dollars, geopolitics and events in South Korea yesterday only add to the argument. Expect the market to...

FX markets continue to see a strong dollar even though this week should really be about US data and prospects for Fed easing. The currencies of three of the five BRICS founding members are under...

A much busier week in terms of US data will have a major say in whether the Fed cuts rates by 25bp on 18 December. US data poses some downside risks to the US Dollar, but the continued and expanding...

OPEC+ meet this week to discuss output policy for 2025, which will be important for price direction. Meanwhile, European gas prices moved higher on Friday with concern growing over a...

ING’s Head of Markets, Chris Turner, on the FX market after a turbulent week for several currencies following Donald Trump’s social media posts about tariffs, notably on Mexico and...

The US market reopens post-Thanksgiving with limited activity expected. The DXY strengthened slightly, correcting Wednesday’s sell-off. The Brazilian real hit an all-time low due to disappointing...

As expected, Israel and Hezbollah announced a 60-day ceasefire agreement and plans to discuss a longer-lasting peace agreement. The oil market is assessing the new dynamics and how it impacts the...

The highlight of Wednesday's session will be the release of the US October core PCE deflator, expected at 0.3% MoM. Even though the market has largely moved on from the US inflation story, a sticky...

The currencies of Mexico (USD/MXN), Canada (USD/CAD) and China (USD/CNH) are under pressure on Tuesday morning after President-elect Trump signaled readiness to use tariffs to secure tighter US...

Copper and other base metals slipped on Tuesday morning amid the strengthening dollar after Trump vowed additional tariffs Metals – Trump Vows More Tariffs US President-elect Donald Trump said in a...

Expectations of colder weather in the US and an early start to the withdrawal season have seen US natural gas starting the week on a strong note. Meanwhile, the escalation in Russia-Ukraine tensions...

The EUR/USD is recovering a little after its mini collapse on Friday. However, further eurozone confidence data this week could still spell trouble and tilt the market towards a 50bp ECB cut in...

Friday's release of softer-than-expected eurozone PMIs have proved the catalyst for EUR/USD to break to the downside of its two-year trading range. Even though a near 7% drop in just two months is an...