ING Economic and Financial Analysis

The Thanksgiving holiday means thin volumes and no US data releases today. We expect some stabilization in EUR/USD after strong jobless claims fuelled the dollar rebound. Still, eurozone PMIs might...

Fed minutes once again reiterated the cautious approach to interest rates but for the US dollar, this seems to be a non-event. Expect trading volumes to fall away into Thursday's US Thanksgiving...

Much of the commodities complex was supported by further weakness in the USD yesterday, while for oil, rising geopolitical tension and expectations of OPEC action provided further supportEnergy - USD...

A softer dollar environment has seen Chinese authorities turn the screws on those with short renminbi positions. Look for further dollar weakness today given the risk of the lowest US existing home...

The dollar has entered a consolidative phase, but yesterday’s price action gave us a glimpse of what could be more regular price action next year. EUR/USD got a brief lift yesterday from the...

By Benjamin Schroeder and Padhraic GarveyWhile the market is clearly eyeing a change in the rate cycle, 10-year UST yields are still fighting a battle along the 4.5% area, with the deficit-induced...

Oil prices came under pressure yesterday following an increase in US crude oil inventories, while a rebound in US treasury yields would have likely added further pressureEnergy - US Crude Inventories...

The dollar continues to claw back some of Tuesday's losses after US October retail sales suggested that the consumer is still spending. Also helping has been the Senate's support of a stop-gap funding...

By Padhraic Garvey & Benjamin SchroederHow convinced are we that the Fed has peaked? You can never be 100% sure on this, but the odds firmly favor the view that they’re done. That places...

The dollar plummeted yesterday after a softer-than-expected US CPI reading. But we still think a turn in activity data - more than the disinflation story - is needed to take the dollar sustainably...

The dollar risks another correction event today as inflation may slow a bit more than expected, even though core stickiness should prevent a major repricing of rate expectations. EUR/USD might also...

By Benjamin Schroeder and Padhraic GarveyThe tension between markets eyeing a change in the rating cycle discount and central banks pushing back should raise volatility. Today's US CPI can provide the...

The dollar starts the week quietly and is holding onto gains made after Fed Chair Jay Powell served up a reminder that the hiking cycle is still live. For this week, the FX market will be focusing on...

By Padhraic GarveyThe US 10-year auction tailed, but the bond bulls don't seem to care. It looks like the market is playing with a change in the rate cycle discount. It's not illogical, but likely a...

The data calendar remains quiet across developed markets, but we are hearing more from central bankers. Fed speakers have delivered hawkish comments, emphasizing the fight against inflation and...

By Padhraic GarveyAs we hold above 4.5% for the US 10-year, the immediate issue is 10-year and 30-year auctions. Beyond that into next week, prepare for a big drop in US headline inflation. Then...