ING Economic and Financial Analysis

The week starts with focus on China's 10bp cut in its one-year Medium-Term Lending Facility (MLF). Rather than rallying on the prospect of stimulus, commodity currencies have softened on the view that...

Quite a bit which has changed in the oil market over the past two weeks. Two weeks ago sentiment was fairly negative, given the continued demand concerns. This negative sentiment appears to have only...

U.S. markets are in the driving seat as CPI looms. With the labour market providing the room and inflation data stressing the necessity of further Fed tightening, the US curve inversion can extend...

Markets are enjoying some temporary calm and cross-market measures of volatility are sinking back to levels seen in early June. Barring an explosive US July CPI release or some major escalation in the...

U.S. markets are in the driving seat as CPI looms. With the labour market providing the room and inflation data stressing the necessity of further Fed tightening, the U.S. curve inversion can extend...

Another upside surprise on US jobs growth with employment back at record highs. The fall in gasoline prices is set to boost household spending power, prompting an expected rebound in 3Q GDP of 3%+....

Markets are enjoying some temporary calm and cross-market measures of volatility are sinking back to levels seen in early June. Barring an explosive US July CPI release or some major escalation in the...

The Fed delivered another 75bps of tightening but attention is turning to the end of this cycle. In Europe, German inflation could light a fire under the front-end but long-end rates seem determined...

The Federal Reserve has raised the Fed funds target range by 75bp, making it a cumulative 225bp of rate hikes this year so far. The Fed's work is not yet done and we look for a further 125bp of hikes...

Yesterday's long-squeeze is not a sign of a longer-lasting soft period for the dollar, in our view. Upside risks for the greenback remain material due to an unstable global risk environment and still...

German Bund yields holding on to last week’s gains confirm the market’s recessionary mood. We identify potential drivers for 10-year yields crossing below 1%. US data should add to the...

The EU held an emergency meeting to deliberate on plans to cut gas consumption by 15%, as Russia reduced Nord Stream flows further citing technical issues. With the US market more likely to stay in a...

Following a rather tumultuous ECB week, we’ve entered Fed week with markets likely having a more solid conviction call on the magnitude of the rate increase. After having quite briefly flirted...

Energy The oil market surged higher yesterday with ICE (NYSE:ICE) Brent settling more than 5% up on the day and above US$106/bbl. A weaker USD provided support to the market, along with the broader...

Inflation Fears Show Signs Of EasingThere has been growing speculation over a possible 100bp hike from the Fed later this month following the 9.1% inflation print and the Bank of Canada opting for a...

Energy The oil market traded lower for yet another week, down almost 5.5% over the course of last week, although ICE Brent still managed to settle above the US$100/bbl level. Towards the end of the...