ING Economic and Financial Analysis

The US dollar suffered a positioning squeeze yesterday as Trump fell short of announcing universal tariffs on day one. However, USD/CAD and USD/MXN are facing more downside risks as the new president...

The fact that trade policy did not feature prominently in President Donald Trump’s inauguration speech has triggered a decent correction lower in the US dollar. We cannot rule out a near-term...

Today, all eyes are on Donald Trump's inauguration as the 47th President of the United States. Financial markets are bracing for a flurry of executive orders ranging from immigration to energy and...

Markets will be focused on today’s inauguration of President Trump with close attention on the large amount of executive orders he is reportedly planning to sign Energy – Specs Add to Brent...

Markets may tread carefully today ahead of Monday’s inauguration of President Trump. There are lingering concerns about the “day one” measures, some of which are priced in, which could generate some...

Oil prices edged lower yesterday despite mounting supply risks related to sanctions Energy – Large US Natural Gas Storage Decline Oil prices traded weaker yesterday with ICE Brent falling back below...

Besides expecting another round of positive US activity data, today’s FX focus will be on the Senate confirmation hearing of Scott Bessent, Trump’s nominee for US Treasury Secretary. He will be...

Brent has broken above US$82/bbl. Falling US crude oil stocks and uncertainty over Russian oil supply following US sanctions continue to support prices Energy – US Crude Stocks Fall Oil prices...

The US PPI surprised on the soft side, but that does not mean today’s CPI will send similar upbeat signals. We expect a 0.3% MoM core print, which can offer a new round of support to the dollar. In...

Energy prices fell yesterday, however, there is still plenty of uncertainty over how oil supplies evolve in the months ahead following US sanctions Energy – Colonial Pipeline Outage Oil prices fell...

The US releases PPI figures for January today, where the core measure is expected to accelerate at an unwelcoming 0.3% MoM. That should cast more doubts about further Fed easing and give the dollar...

The latest US sanction package against Russia has rattled energy markets, pushing both oil and European gas prices higher Energy – Sanctions See Prices Spike Energy prices spiked higher yesterday as...

Friday's strong US jobs release has provided another leg higher for the US Dollar. It is hard to see the dollar trend changing this week given the prospect of another strong set of US inflation data,...

Oil prices have rallied following the announcement of stricter US sanctions against Russian oil, targeting both production and export flows. These latest sanctions have the potential to erase the...

European natural gas prices continue to come under pressure, with TTF down more than 9% so far this week Energy – Oil Supported, Gas Weaker Oil prices remain well supported with ICE Brent settling 1%...

United States Recent business surveys suggest that the clean election outcome has led companies that delayed investment and hiring due to election/regulatory uncertainty to start putting money to...