ING Economic and Financial Analysis

FX markets are settling into calmer conditions ahead of the long weekend in the US and the UK. While G7 finance officials reaffirmed their commitment to free-floating exchange rates at this week's...

Oil prices came under pressure yesterday, and in early morning trading today, amid increasing noise around OPEC+ production policy for July Energy – OPEC+ Output Policy The oil market is under...

The composite PMI declined from 50.4 to 49.5 in May, indicating that the eurozone is falling back into stagnation. It's worrisome that the main culprit is the service sector, which has long been the...

House Republicans may have reached some agreement on Trump’s flagship “Big, Beautiful Bill”, which has caused market concern over the deficit and raised downside risks for the US dollar. There are...

A quiet data calendar is allowing the US Dollar bearish trend to re-emerge. However, some USD-positive headlines on trade may come out of the ongoing G7 summit in Canada – that is, barring any...

Oil prices surged this morning on media reports that Israel is planning a possible strike on Iranian nuclear facilities Energy – Geopolitical Risks Grow The oil market spiked in early morning trading...

The US dollar remains gently offered in quiet conditions. In the absence of important US data this week, investors are continuing to speculate over whether US trade deals with Asia will involve a...

Oil prices remain steady as the market digests the Trump-Putin call, which appears to have resulted in no significant breakthroughs Energy – Chinese Oil Demand Falls The oil market eked out a small...

Oil sold off yesterday amid rising hopes for an Iranian nuclear deal after comments from President Trump Energy – Iran Nuclear Deal Hopes The oil market sold off yesterday following comments from...

The greenback has not held on to post-trade-deal gains for long, and while a soft CPI was the trigger for the correction, we think yesterday’s moves signal a clear preference for strategic short-USD...

Oil prices moved higher amid threats of tougher sanctions on Iran in the absence of a nuclear deal Energy – Iranian Sanctions ICE Brent rallied by almost 2.6% yesterday, reaching its highest since...

Some calm is returning to FX markets after another day of trade-driven volatility. The 90-day pause in the US-China trade war has allowed the US dollar to recoup some losses, although we doubt it...

Oil prices moved higher following a pause in tariffs by China and the US. However, supply dynamics are likely to continue to generate headwinds Energy – Tariff Pause Provides Short-Term...

Oil and metals prices rose after the US and China said they will temporarily lower tariffs on each other’s products, with the US reducing its levies on most Chinese imports from 145% to 30% and China...

Markets are anxiously awaiting today’s update from Secretary Bessent on the content of initial US-China trade talks over the weekend. We think the market baseline is for tariffs to be cut to 60%, and...

Markets have welcomed the first US trade deal since Liberation Day, although the British-American agreement is hardly a game-changer for either of the two countries. The US dollar is benefiting from...