ING Economic and Financial Analysis

Stimulus payments creates a strong platform for growthTo get any meaning out of the February personal income and spending report we need to look at it in combination with January data. The $600...

While the new administration took early steps to distance themselves from a number of policies of the Trump-era, a continuation of the strict stance on foreign currency mis-practices with specific...

The Fed makes a bold statement by removing a key emergency measure employed to support the banks and the systemA year ago the Federal Reserve gave US banks a break by allowing them to exclude holdings...

Sales fall, but don't worryRetail sales fell 3% month-on-month in February, which was weaker than the -0.5% MoM consensus figure, but it is important to point out that the $600...

A concession has built in emerging markets. The question is whether it is enough. The answer is, probably not. Synchronised global growth in the quarters ahead can and should prove supportive, as...

Germany: Prices set to increase furtherHouse prices in Germany don't seem to be showing any signs of levelling off. The year-on-year change in the statistical office’s house price index in 3Q20...

Federal Reserve Chairman Jerome Powell has suggested that the Federal Reserve's position will remain resolutely supportive for growth. But with the reopening getting closer and fiscal stimulus adding...

The inflation figures were bang in line with expectations and may have disappointed a market that is fixated with rising inflation fears. Let's face it, 1.7% is hardly going to inflame concerns about...

Around a year ago, when Covid-19 was really hammering the US system and economy, the Federal Reserve decided to allow banks to buy Treasuries and hold deposits without regulatory restriction.At that...

On hold, but hints of positivityThe Bank of Canada has left monetary policy unchanged, with the overnight rate kept at 0.25% and the quantitative easing programme of “at least C$4bn per...

Headline US inflation has risen from 0.2% year-on-year last May to 1.7% Wednesday, but it is barely half-way to the 3.5-4% area where we see it peaking. While officials remain broadly relaxed, we...

Reopening to a consumer boomIt has been a strong start to 2021 despite the ongoing Covid-19 restrictions.Robust manufacturing and construction numbers have been backed up by stellar consumer spending...

From bifurcation to ‘re-marriage’ within the nickel value chainThe nickel industry has always been on the cusp of change due to evolving technology in producing different types of nickel...

Beyond the macro story, aluminium has found some fresh momentumAluminum has fared well this year, with LME 3M prices gaining over 13% year-to-date. The market seems to have shrugged off stock building...

Inflation fears boost bullish bets in commoditiesThe commodities sector has been under the spotlight as macro investors pile into the asset class, with a particular focus on ‘green-tinted’...

Supply cuts speed up the tightening processThe additional supply cuts announced by Saudi Arabia at the start of the year have clearly helped to speed up the rebalancing of the oil market. The...