ING Economic and Financial Analysis

Major FX pairs look to have settled into early-year ranges and now await the next big input – Thursday's release of December CPI data for the US. The modest back-up in interest rates this year...

Protests at Libya’s largest oil field has seen force majeure declared on these supplies. This supply disruption and the geopolitical situation in the Middle East continues to provide some...

The dollar is back around Friday’s open levels against most G10 currencies as markets face contradicting indications from the jobs market and ISM services index. Expect a quiet start to the week...

A bearish EIA report saw oil giving back some of its gains made earlier in the week. Meanwhile, nickel continues to come under pressure with fundamentals set to remain soft through 2024Energy - Large...

The soft landing playbook could see a temporary reversal today were the December US jobs report to come in on the strong side. The market seems to have gotten a little ahead of itself in pricing the...

Oil prices moved higher yesterday with tensions continuing to grow in the Middle EastEnergy – Tensions LingerFurther tension in the Middle East pushed oil prices higher yesterday. ICE (NYSE:ICE)...

Hawks and doves might both be satisfied with yesterday's Fed minutes. Stressing conditionality seems inconsistent with March cut expectations, but the openness to a QT exit and concerns about the...

The dollar jumped yesterday as investors started to return from the long Christmas break. Markets are unwinding some dovish bets, and questioning stretched equity valuations, ultimately favoring...

The Bank of Japan did not give in to market pressure and kept its dovish guidance intact. However, the wording on the economic and inflation outlook paves the way for a hike in the second quarter in...

The Bank of Japan kept its major policy settings unchanged and made no changes to its forward guidance, pushing the yen down against the dollar. But we think the shift in tone is clear and major...

The positive sentiment following the Fed’s comments continued yesterday, with energy and metals trading in green. As for metals, new sanctions by the UK on Russian metals combined with positive...

The dollar is recovering some ground after the pushback from Fed officials against rate-cut bets. However, the dovish Dot Plot may work as an anchor for rates and keep the dollar soft into the end of...

As the dust settles after a furious period for central bank meetings we are left to conclude that European policymakers have chosen to push back more than the Fed when it comes to what the market...

By Benjamin SchroederWhat a week it's been. Central bank anticipation first. Then, evidence of a holiday party at the Fed. Followed by failed attempts from Frankfurt and London to poop that party. But...

By Benjamin SchroederThe surprise from the FOMC was partly the extra 25bp implied cut added to 2024, but it was more the lack of pushback from Chair Powell on the 2024 rate cut narrative. He almost...

The dovish comments from the Federal Reserve helped to improve sentiment yesterday, with gold prices recovering back to around US$2,030/Oz. Crude oil prices also gained on OPEC and EIA reports,...