ING Economic and Financial Analysis

We will remember Jackson Hole not just for Powell's hawkish speech, but also for the ECB gearing up its own hawkishness – 75bp hikes are not just for the Fed. Even if just an attempt to invoke...

The Economic Sentiment Indicator fell modestly from 98.9 to 97.6 in August. Both industry and services indicate weakening economic activity. Meanwhile, recession prospects are causing more moderation...

It was a volatile start to the week for energy markets. European natural gas prices sunk, whilst oil moved higher. The next week will be key for markets. For natural gas, we will need to see whether...

It seems the Fed is not particularly displeased with the market reaction to Friday's hawkish Jackson Hole speech from Fed Chair, Jay Powell. Here, real US yields have moved higher, equities have...

The Jackson Hole Symposium is mostly an academic endeavour with a heavy Federal Reserve flavour. The vast majority of what's discussed there will not be market moving; more market yawning. However,...

A large decline in US crude oil inventories has supported prices, while the market continues to wait for further detail on how Iranian nuclear talks are progressingEnergy: Hefty US Crude DrawEIA...

The dollar is slightly softer today as the People's Bank of China (PBoC) seemed to issue a protest against recent renminbi weakness with a stronger fixing. Additional stimulus measures from China are...

The hangover from this summer’s Goldilocks/soft landing party is a brutal one. Most asset classes are selling off but history suggests that this can only last so long. At some point, bonds...

Oil prices had a volatile day yesterday. Brent recouped almost all of its losses from earlier in the day after comments from the Saudi energy minister. Meanwhile, European natural gas prices continue...

The dollar is enjoying an ideal combination of conditions that support it staying below parity, while the euro will see another PMI drop today, supporting the divergence between the US and Europe. We...

We hoped falling gasoline prices would lift retail spending in July, but this wasn't the case. Nevertheless, the data still points to a healthy start to the quarter. The cash flow boost from lower...

The minutes to the Federal Reserve's July FOMC meeting point to ongoing rate hikes to ensure that inflation and inflation expectations don't become embedded. However, "many" participants fear they...

The UK CPI print was the not so gentle reminder that central banks' mission is far from accomplished. Near-term direction for rates should still be up. Illiquid markets may have amplified the reaction...

The US saw large oil inventory declines over the last week. However, commodities are still struggling to find direction. A number of markets are trying to balance weaker demand with growing supply...

Last night's release of the July 27 FOMC minutes was perhaps not the financial market bombshell that some were thinking. Yet we read three important takeaways for the FX market. These should...

A rebound in manufacturing and industrial output, coupled with a decent performance from the consumer sector and net trade and inventories being less of a drag support our view of 3%+ GDP growth in...