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ING, Institutional
Federal Reserve: September hike bias shifts – ING
ING’s James Knightley argues Kevin Warsh’s Jackson Hole speech has shifted the Federal Reserve’s reaction function toward a September rate hike, even though ING’s macro projections suggest the Fed could wait. The analysis highlights inflation above target, robust activity but pressured households, and concludes that a 25bp move is now more likely than a hold, […]
by Currency Hedger
- 0 Comments
- 1 week ago
ING, Institutional
Japanese Yen: Intervention jitters linger – ING
Chris Turner at ING notes that a near 1% drop in USD/JPY within minutes, followed by another slide, sparked talk of renewed Japanese intervention after the Bank of Japan’s earlier $96 billion sales. Authorities appear satisfied with price action, but Turner says a likely Fed hike in mid-September should keep USD/JPY supported unless the Bank […]
by Currency Hedger
- 0 Comments
- 1 week ago
ING, Institutional
Brent: Geopolitical risk keeps cracks elevated – ING
ING analysts Warren Patterson and Ewa Manthey note Brent has pushed back above $95/bbl as escalating Persian Gulf tensions revive supply risk and a geopolitical premium. They highlight record ICE gasoil cracks, extreme backwardation and ongoing disruptions to Middle East and Russian diesel exports. ING expects middle distillate cracks to stay highly elevated and volatile […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
ING, Institutional
CEE FX: Hawkish repricing supports regional currencies – ING
ING strategist Frantisek Taborsky reports that Polish inflation surprised to 3.4% on higher fuel prices, while food prices fell, and a busy data calendar looms for Central and Eastern Europe. He notes regional markets have shifted back into hawkish mode after recent Federal Reserve comments and geopolitical tensions, with Czech and Polish curves pricing multiple hikes, which should limit […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
ING
Gold: Fed hawkishness caps upside – ING
ING’s commodities team, led by Warren Patterson and Ewa Manthey, reports that Gold came under pressure after Federal Reserve Chair Kevin Warsh reinforced a higher-for-longer rates narrative, supporting the Dollar. They add that upcoming US inflation and labour data, central bank buying and geopolitics will shape Gold’s near-term performance, with upside seen as constrained by rate expectations. […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
ING, Institutional
Brent: Hormuz tensions keep prices supported above $90 – ING
ING analysts Warren Patterson and Ewa Manthey note that oil prices, including ICE Brent, started the week stronger after US strikes on Iran raised concerns over Persian Gulf supply. They highlight Strait of Hormuz flows and Russia’s extended diesel export ban as key factors supporting the oil complex. Brent underpinned by Gulf tensions “Oil prices […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
ING, Institutional
South Korean Won: Higher rates and chip boom support gains – ING
ING’s Chris Turner reports that the Korean Won (KRW) continues to advance, driven by back-to-back Bank of Korea (BoK) rate hikes to 3.00% and a Dot Plot pointing to 3.25% in six months. Upgraded Gross Domestic Product (GDP) forecasts linked to a chip export boom underpin the currency, though authorities may worry about KRW/JPY highs […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
ING, Institutional
Australian Dollar: RBA hold view caps near-term upside against US Dollar – ING
ING’s Francesco Pesole highlights that the Australian Dollar (AUD) is the only G10 currency gaining this week as hotter July inflation and strong household spending fuel hawkish Reserve Bank of Australia (RBA) expectations. ING’s macro team still favours a prolonged RBA hold, expecting benign inflation and a steady Fed to reduce urgency, with AUD/USD targeted […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
ING, Institutional
US Dollar: Warsh speech keeps markets cautious – ING
ING strategist Francesco Pesole sees recent United States (US) Personal Consumption Expenditures (PCE) Price Index data as consistent with disinflation but too gradual to force Federal Reserve (Fed) hikes this year. Pesole still expects the Fed to hold rates on 16 September and anticipate a weaker Dollar, but warns that hawkish market pricing and Kevin Warsh’s Jackson Hole speech […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
ING, Institutional
US Dollar: Bond market supports cautious consolidation – ING
ING’s Francesco Pesole notes the Dollar is drawing support from the US bond market as long-dated yields stabilise, while US-Canada trade tensions and Iran-related sanctions risks complicate the outlook. He argues renewed US-China trade frictions could hurt the Dollar, and sees downside risks dominating, although USD is expected to consolidate into the upcoming Jackson Hole […]
by Currency Hedger
- 0 Comments
- 3 weeks ago