Bundle

In case you missed it: Dovishness all over again

  • 7 June 2019

US jobs miss forecasts cementing market expectations of a slowdown, and if the Fed cuts rates, the ECB will probably follow suits as it is a smidge away itself. Elsewhere, we've revised our yuan forecast lower amidst President Trump's trade crusade as the damage from the trade war is set to make 2019 the worst year for trade since the financial crisis

Download

In this bundle

Disappointing US jobs report: A huge miss
Quick take
7 June 2019

Disappointing US jobs report: A huge miss

While we were expecting jobs growth to slow down this time, few could have predicted such weak payroll numbers. The poor reading only cements market…

Fed easing and the dollar: Necessary, but not sufficient
FX United States
7 June 2019

Fed easing and the dollar: Necessary, but not sufficient

There is a conviction that the Fed is going to have to cut rates to insulate the economy from trade wars. US rates are collapsing, but the dollar is…

ECB: Dovish vehemence from Vilnius
Quick take
6 June 2019

ECB: Dovish vehemence from Vilnius

Dovishness all over. With today’s meeting, the European Central Bank is, in our view, only a small economic slip away from a rate cut

EUR & ECB: Ready to offset the possible dovish Fed
6 June 2019

EUR & ECB: Ready to offset the possible dovish Fed

Despite the lack of explicit action, the European Central Bank (ECB) got as close as it gets to an interest rate cut. This means that if the Fed starts…

China: Revising yuan lower but 7.0 should hold
FX China
3 June 2019

China: Revising yuan lower but 7.0 should hold

We are revising our USD/CNY and USD/CNH forecasts to reflect expectations for a weaker yuan. This is a result of the rising tensions between China and the…

Germany: Horrible start to the second quarter
Quick take
Germany
7 June 2019

Germany: Horrible start to the second quarter

Disappointing April data from industrial production and trade suggest that the latest ECB’s dovishness is justified

Italy: Debt-driven excessive deficit procedure recommendation: take two
Italy
5 June 2019

Italy: Debt-driven excessive deficit procedure recommendation: take two

The move from the EU Commission, which did not come as a big surprise, will now force a clarification between the Italian government stakeholders on the…

World trade heading for the worst year since 2009
Trade
10 June 2019

World trade heading for the worst year since 2009

The strong setback to world trade growth at the end of 2018 and the damage from the trade war will make 2019 the worst year for trade since the financial…

We were wrong on RBI policy, but for the right reasons
India
6 June 2019

We were wrong on RBI policy, but for the right reasons

The shift in Indian central bank policy stance from ‘neutral’ to ‘accommodative’ doesn’t’ mean there will be more rate…

World trade USDCNY USDCNH USD Trump Trade wars Trade War Technology war Rupee Reserve Bank of India Outlook Monetary Policy Italy budget Italy Inflation Growth

Content Disclaimer

This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument.
Read more
Download