Author's articles
European Central Bank presented its economic projections. Inflation to slowdown to 2.3% in 2025
Bank Of England: Bank Rate May Peak At 4% In The New Year
The SNB will want further nominal appreciation in 2023
The Picture Of The French Economy Looks Stable From The Point Of View Of The Business Climate Indicator
Commodities: The IEA Now Expects Global Oil Demand To Grow
The Bangko Sentral ng Pilipinas May Bring Its Policy Rate To As High As 6.0-6.25% Next Year
In China Retail Sales Fell Even Further Last Month Due To Covid
All three banks today are said to go for 50bps today. Pound may be at risk of declining soon as Fed hikes into recession
Euro: according to ING, the risk of 75bp rate hike has increased
Did you know that in October average gas price was 4.3 times higher than in 2019?
USA: Federal Reserve goes for 50bps, dollar unlikely to reach 1.05
What is carbon border adjustment mechanism (CBAM)? European Union to tax goods from "high-polluting" countries
Hungary: ING expects interest rate to remain unchanged
Poland: ING expects GDP deficit in 2022 can reach 4.2%
Europe: Less air pollution isn't the only advantage of the potential switch from planes to trains
ECB interest rate hiking is six times faster than in the previous tightening cycles
The Outlook For The Eurozone Manufacturing Industry Remains Bleak
The Yen Weakness And The Bank Of Japan's Policy Response Will No Longer Be The Focus Of The Market
Commodities: Soft Wheat Shipments From The EU Rose 6% Year-On-Year
FX: The Lagarde Effect On EUR/USD Pair Should Be Significantly Smaller And Shorter-Lasting Than The Powell Effect
Rates Spark: A Hawkish 50bp Hike Is Still Expected From The Fed Today
Asia Market: In South Korea, The Unemployment Rate Rose Slightly
The ECB Will Phase Out Reinvestments Of Its Asset Purchase Programme Portfolio Throughout 2023
Australia's Economy Is Showing Clear Signs Of The Possibility Of Further Contraction In 2023
Commodities: Production Of Zinc At George Fisher Zinc Mine (Australia) Has Stopped As A Grassfire Continued For A Third Day
Romania: Headline Inflation Might Hit 17%
FX: The EUR/HUF Cross Rate Continues Its Volatile Path, The South African Rand (ZAR) Is The Worst EMEA FX Performer
Rates Spark: The Predominant View Remains That Inflation Is On Its Way Down And Should Allow The Fed To Slow
Asia Market: In India November Inflation Dropped Far More Sharply Than Had Been Expected
Czech Republic: Year-On-Year Inflation Would Have Reached A Record High Of 19.8%
The Latest CFTC Data Shows That Speculators Increased Their Bullish Bets In COMEX Copper By 3,241 Lots
40% Of EU Construction Firms Said They Would Raise Their Prices
FX: More Pain For The Forint (HUF) Can Be Expected, The Correlation Between US 10-year Yields And G10 Dollar Crosses Has Picked Pp
Asia Market: One More Hike Early Next Year Should Do It For The RBI
2023 Will Still Look Bleak for Containerised Trade, Supply Chains Will Also Remain Fragile
The Second Half Of 2023 Will Be About Rate Cuts By The Fed, But Do Not Expect The People’s Bank Of China To Cut The RRR Or Interest Rates
OPEC+ Supply Cuts Suggests That The Oil Market Will Tighten Over The Course Of 2023
Manufacturing Firms Across Developed Markets Are Reporting Lower Orders And Rapidly Rising Inventory Levels
An Overview Of ING Current Base Case: What Could Be Next For The Global Economy?
Inflation Rates In Asia Look To Be Peaking Out, Picture Of The CEE Region For Next Year Is A Shallow Recession Driven Mainly By A Fall In Household Consumption
Inflation Will Continue To Be One Of The Key Themes Of 2023
In Poland Lower Inflation In November Is Not Yet A Sign Of A Turnaround In The Inflation Trend, CPI In the Czech Republic Continue To Rise Rapidly
A 50bp Hike By The Fed And The ECB Is Firmly Expected Next Week
Netherlands: the third quarter sees mixed retail sales data
FOMC is on the verge of deciding which way to go. Here are scenarios of what may happen to inflation, rates, economy, greenback, QT and bonds prepared by ING
The SNB Stays Hawkish And Wants To Keep The Real CHF Stable
Crude oil: Brent ended yesterday's session 1% lower. Industrial metals gain from weaker greenback, demand could be higher as in China Covid-19 restriction are being eased
Thursday's Bank Of England Meeting Will Have Too Much Impact On Sterling (GBP)
FX: EUR/USD Will Struggle To Trade Sustainably, Price Action In G10 Currencies Has Been Quite Mixed
Asia Market: Chinese Stocks Were Broadly Unchanged
Hungary: Budget deficit jumps above full-year cash flow target by ca. 10%
Rates Spark: The Focus In The Eurozone Is On The ECB's TLTROs
Next week Taiwan's central bank and Bangko Sentral ng Pilipinas decide on interest rate as Bank Of Korea publish its meeting minutes
Euro Credit Supply: "We don’t expect much more supply to come in December, as primary markets have already began to close"
Hungary: headline inflation reaches 22.5% - slightly more than expected, noticeably more than in October
Commodities: China Reported An Increase In Its Gold Reserves And The EIA Reported A Huge Build-Up In Product Stocks
ECB: According to ING Economics, 75bp rate hike couldn't be fully excluded
Hungary: Industrial production shrank by over 3% month-on-month. Gas usage declined by 23% year-on-year hinting at contraction in energy intensive sectors
FX: EUR/USD Remains Reasonably Supported, The Forint Has Stabilised Around 410 EUR/HUF
Bank of Canada went for 50bp, hints at the end of tightening
The ECB Is Less Advanced Into The Hiking Cycle Than Its Peers
Current Polish Monetary Policy May Prove Too Loose To Bring Inflation Back To The NBP's Target
Asia Market: The CNY Made Further Gains Yesterday, Japan GDP Contracted
China Expect A Quarter-On-Quarter Improvement In GDP
Weak External Demand Could Drive China's Exports Even Lower
FX: Financial Markets Now Seem To Be Settling Into The View Of A 2023 Recession
France: ING expects economy to grow by 2.5% on average this year, but taking inflation and other headwinds into consideration, 2023 figure may go below the line
The Cooling Of Global Demand Continue To Weigh On German Industry
US Inflation Is Clearly On A Path Towards Reaching The Fed’s Target
Russia Is Looking To Impose A Price Floor For Its Crude Oil
Bank Of Canada: A 50bp Rate Hike Would Be Received As A Hawkish Surprise
Encouraging Signals From The German And European Economies Is Suggesting That The Recession Might Be Less Severe
The ECB Takes Decisive Steps Towards Unwinding Its Bond Portfolio
Germany: Industrial orders rose 0.8% month-on-month. Ifo: More than 50% of industrial companies affected by supply chain issues
Reserve Bank of Australia went for 25bp rate hike. Fed Funds futures hint a 5% peak rate next year
Philippines inflation reaches the highest level since 2008
The Retail Environment Remains Very Tricky In Near Term
There are some factors which can help greenback in the remainder of the year. Next week BoE, Fed and ECB decide
The Indian Sugar Mills Association (ISMA) Shows That Domestic Sugar Production Rose
Global Sugar Output In The 2022/23 Marketing Year Is Expected To Hit Near Record Levels
Global Wheat Production Is Still Expected To Edge Higher
Poland: A Pause In Its Rate Hiking Is Officially Declared
Bank Of Canada Meeting Ahead: Whether It Will Be A 25bp Or 50bp Hike?
Commodities Outlook: Part Of The Supply Gap In 2023 Will Remain
The World Steel Association Expects Chinese Steel Demand To Fall
Central Banks Increased Their Buying Of Gold Significantly Over The Q3
Commodities Outlook 2023: Stainless Steel Is Still Key For Nickel Semand
Copper: Disruptions In South America Continue To Be In The Spotlight
Middle Distillate Inventories Are Tight Around The Globe
USA: Jobs market data play in favour of Fed hawkish script. Non-farm payrolls add 263K
Yesterday, Hang Seng and CSI 300 went up slightly. Non-farm payrolls are published later today
FX: Today’s US Payrolls With A Strong Bearish Rhetoric On The USD
Inflation Breakevens Rose After Chair Jerome Powell’s Speech
Korea: A Temporary Slowdown In CPI Inflation Would Not Change The BoK's Inflation Outlook
The Commodities: The EU Is Looking At A Price Cap Level Of Around US$60/bbl
So, may be extending Fed hiking won't be necessary...
China: Caixin manufacturing PMI reaches 49.4, a bit more than in October. ING talks possible reduced impact of COVID on the country's economy
There are quite strong indications that Fed and ECB will go for 50bp rate hikes
Indonesia: inflation reaches 5.4% year-on-year, 0.3% less than in October
"A notable risk facing credit markets next year is the potential for the European Central Bank (ECB) to reduce the size of its balance sheet via the tapering of the asset purchase programme"
