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THINK Ahead: Post-shutdown US jobs and Fed minutes in focus

Next week, we’ll be watching for September’s delayed US jobs report and the release of October's more hawkish Fed minutes, which could dampen hopes for a December rate cut. We also expect the National ...
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National Bank of Romania revises its inflation outlook higher

At a calm press briefing, the National Bank of Romania unveiled its November Inflation Report, announcing upward revisions to its inflation trajectory. The overall message conveyed stability, ...
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Falling core inflation and softer services prices open door to more Polish rate cuts

Headline inflation is gradually creeping towards the National Bank of Poland (NBP) target of 2.5% (+/- 1 percentage point), and its prospects are looking good. Consumers do not face the risk of a ...
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ETS2 more a tail risk to Poland’s inflation path

The extension of the EU’s Emissions Trading Scheme to private transport and buildings (ETS2) poses a risk to official inflation projections. As expected, it wasn't included in the latest updated NBP ...
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Signs of life return to the Romanian economy

Romania’s economy delivered a mild upside surprise in the third quarter. The flash estimate points to 1.6% annual growth, ...
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FX Daily: Fiscal risk hitting the pound

It’s not unusual for the highly efficient FX market to be more forward-looking than other asset classes. In this case, it appears that the dollar is embedding the narrative that the US reopening will ...
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Rates Spark: Dutch pension reforms may be pushing for steeper 10s30s

Further out on the curve, the Dutch pension reforms could finally be pushing for a steepening of the 10s30s beyond the US ...
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German government announces relief for industry

The economic policy announcements still need to get support from the entire government and parliament, and in the case of the energy price subsidy, also require approval from the European Commission.
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Asia week ahead: Rate decisions in China and Indonesia and key data from Japan, Taiwan, Singapore

Growth for the current quarter is projected to recover. The recent US-Japan trade agreement is expected to improve market ...
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Chinese data shows momentum fading into the final stretch of the year

Chinese fixed asset investment slumped further to -1.7% year-over-year, year-to-date, marking the lowest level since June 2020. Once again, the data is falling well short of already downbeat forecasts ...
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The Commodities Feed: US crude oil stocks jump

Oil prices moved higher yesterday, settling just shy of 0.5% higher, despite a bearish weekly Energy Information ...
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Turner: The FX winners and losers in 2026

Have FX markets really learnt to live with Trump's tariffs? And why might sterling struggle again? Get answers from ING Research Head of Markets, Chris Turner, as he outlines the key themes for FX ...