ING Economic and Financial Analysis

In the FX market, we’re now looking at the lowest volatility levels in five years. Will it continue?USD: All quiet ahead of tomorrow’s FedAsset market volatility continues to sink across...

Quarterly house price growth in Australia fell 2.4%QoQ in 4Q18, accelerating the decline from 3Q18 (-1.5%). Although this still looks orderly, it does raise the prospect of a more disorderly decline...

Flat yield curves and the prospect of unchanged G3 monetary policy into 2020 have seen volatility collapse across G3 FX pairs. Yet there’s plenty going on elsewhere with Brexit, tightening in...

There's talk that next Tuesday could see May's third (and likely final) attempt at getting her deal through parliament, but we are scepital that it will prove successful. That doesn't mean Brexit is...

With the wind blowing towards a shorter delay to the Brexit process and Parliament seemingly reluctant to back an alternative option, we suspect Prime Minister May will continue to struggle to...

If Brexiteers are scared into submission and a third Meaningful Vote is somehow passed or a softer Brexit emerges over the coming weeks, sterling could rally further.USD: US economy quietly...

Infrastructure investment and real estate development has supported the economy while retail sales growth has stabilised. We don't read too much into the industrial production data as factory closures...

The month-on-month increase of 1.4% for Eurozone industrial production was better than expected, but with worries about global demand very much alive the industrial outlook is clouded by...

With an Article 50 extension looking more likely by the day, we can see why some research houses are calling for cable at 1.36/38. But we see enough uncertainty to keep GBP/USD trading in a 1.30-33...

Another loss for U.K. Prime Minister May means lawmakers are likely to push for a delay to the March 29 deadline. But ultimately, Parliament will still need to make a decision on which Brexit option...

The FX market thinks the meaningful vote is a big deal and expects volatility sooner rather than later. That said, short positions in GBP are around 40% smaller than they were at the time of the last...

The FX market thinks tomorrow’s meaningful vote is a big deal and expects volatility sooner rather than later. That said, short positions in GBP are around 40% smaller than they were at the time...

Credit data shows that China's monetary policy is not that loose after all. And, the central bank governor warned that the scale of required reserve ratio cuts will be trimmed. When he mentioned the...

China's central bank governor spelt out what was discussed regarding the yuan in the China-U.S. trade negotiations. We believe that USD/CNY will move more like a "float" currency by following the...

A trade deal between the US and China is looking closer than ever, but the next few weeks will be far from easy for the negotiators on either side. But even if we get something soon, this won't really...

With new TLTROs and a change to the forward guidance, the European Central Bank (ECB) today tried to get ahead of the curve. The measures demonstrate the ECB’s determination but will do little...