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ING

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ING is a global bank with a strong European base.
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European Gas Rallies Despite Bearish Outlook

European natural gas prices have strengthened over the last month because of slower storage builds. However, the outlook remains bearish. We are more constructive on the US natural gas market as supply growth is flat and demand is growing.

FX Daily: Falling Volatility Restores Interest in Carry Trade

Cross-market volatility is falling again. This looks largely down to Friday's benign US jobs release and a relatively quiet US data calendar this week...

The Commodities Feed: Saudis Raise OSPs

Oil prices came under significant pressure last week as Middle East tensions continue to ease. However, price action has been more supportive in early morning trading today on the back of a hike in Saudi OSPs.

Key Events in Developed Markets and EMEA Next Week

The highlight in markets next week will be the US jobs report. We expect a cooling to 210,00 jobs in April. Over in Poland, all eyes will be on CPI inflation where we expect a bounce back to 2.4%...

Bank of England to Stay Optimistic But Avoid Endorsing June Rate Cut

The Bank of England is inching towards the first rate cut, which we expect in August. Expect an optimistic air to Thursday’s meeting but we think the Bank will stop short of rewriting its forward guidance, which would be tantamount to endorsing a June rate cut at a time when the near-term direction of UK inflation is still uncertain.

Weaker US Job Numbers Boost Expectations of a September Rate Cut

Job creation was weaker, unemployment higher and wage growth more subdued than expected in the April employment report. With Fed Chair Powell leaning dovish at Wednesday’s press conference this has breathed new life into Federal Reserve interest rate cut calls.

Bearish Dollar Momentum Faces Key Payroll Test

The post-FOMC hawkish repricing of Federal Reserve rate expectations is applying pressure on the dollar, although today's US jobs figures will be the real pivotal event for FX…

European Gas Rallies

European natural gas prices rallied yesterday despite comfortable storage and a bearish outlook…

Dovish Powell Keeps Dollar Bulls in Check

The Fed's nod to the recent run of stronger US data was a soft one at last night's FOMC meeting, and it was clear that the Powell Fed would love to cut rates given half a chance…

What Goes Up, Must Come Down

The commodity complex has benefitted from a run-up in prices in recent months. Geopolitical tension and supportive fundamentals led speculators to boost their positioning…

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