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ING Groep Newsroom
RBC Keeps ING Groep at Sector Perform, Raises PT
ING Groep: Janeczek's Appointment Effective Jan. 13
ING Groep Names Debbie Janeczek as Chief Information Security Officer
Express News | The Federal Reserve's strong position supports the US dollar, while the Indian rupee faces challenges.
Concerns over tariffs have led economists to raise their inflation expectations for the USA in 2025, while expectations for interest rate cuts have decreased.
Economists have raised their forecasts for inflation in the USA next year due to tariff concerns and now expect the Federal Reserve to cut interest rates one less time than previously anticipated a month ago. According to the latest Bloomberg monthly survey of economists, the annual core Personal Consumption Expenditures (PCE) price Index is expected to average a 2.5% increase next year. The forecast for this inflation indicator favored by the Federal Reserve is higher than the 2.3% in the previous month's survey. Although economists expect the Federal Reserve to lower rates for the third consecutive meeting on Wednesday, they now anticipate that policymakers will only cut rates three more times in 2025, each by 25 basis points, during the March, June, and September meetings.
Cocoa prices have reached a new historical high, and analysts say prices will continue to fluctuate next year.
In 2024, the prices of key ingredients for chocolate surged, prompting analysts to warn of extreme price fluctuations. On Tuesday morning Eastern Time, the New York Cocoa Futures contract for March delivery reached a peak increase of 1%, rising to $11,938 per metric ton, setting a new historical high. It later gave back some of its gains, trading at approximately $11,864 per metric ton around 8:20 AM Eastern Time on Tuesday. So far this year, the futures price has increased by over 180%. Meanwhile, concerns about adverse weather conditions and supply shortages in West Africa have resurfaced, with cocoa production in West Africa accounting for about the world's ...
ING Groep: The short-term overnight index swap rates are high, and the USD continues to rise against the trend.
Analyst Francesco Pesole from ING Groep stated that due to high short-term overnight index swap (OIS) rates, the USD continues to rise against the trend. Pesole mentioned that the market generally expects the Federal Reserve to cut rates by 25 basis points this week, but this might indicate that the Fed will be cautious about future rate cuts, as expected by the market. Pesole added that unless the Federal Reserve signals more rate cuts than what the market pricing includes, the current 2-year USD overnight index swap rate of about 4.0% should prevent the dollar from falling significantly during typically weak months. The DXY USD index rose 0.
ING Groep's Share Buyback Progress Nears 30% Completion
European Equities Traded in the US as American Depositary Receipts Lower in Friday Trading, Down 1.5% for Week
Express News | Dutch International: The growth momentum of the United Kingdom's economy is further slowing down, but the boost from the budget is coming soon.
Barclays Sticks to Its Hold Rating for ING GROEP (0RIC)
The Nasdaq fell to 0.02 million points, Adobe plummeted more than 13%, the China concept Index rose against the trend, and Bitcoin dropped below 0.1 million dollars.
In November, USA PPI inflation exceeded expectations, with the market betting on a pause in interest rate cuts in January next year. The Dow has fallen for six consecutive days, with NVIDIA experiencing the largest drop of 2.5%. Tesla, Meta, Google, and Amazon have moved away from their highs, uranium mining stocks have declined, but Apple reached a new high. Broadcom rose nearly 5% in after-hours trading, and Chinese stocks Baidu and PDD Holdings increased by over 1%. Bond yields in Europe and the USA have risen significantly, and after the European Central Bank cut interest rates, the euro fell to a one-week low, before rebounding. The dollar reached a two-week high, while the offshore yuan once rose over 200 points, breaking through 7.26 yuan. Commodities generally fell, with spot gold down over 2% and spot silver down over 4% during the session.
International Precious Metals Futures sharply fell, with COMEX Gold Futures down by 1.87%.
International Precious Metals Futures fell sharply, with COMEX Gold Futures down 1.87% to $2705.2 per ounce, and spot gold dropping nearly 1.6% to below $2680; COMEX Silver Futures fell 4.25% to $31.565 per ounce, with spot silver hitting a low drop of nearly 2.6% below $30.90 during the day. The decline in gold expanded as mixed economic data from the USA prompted investors to take profits after gold prices rose for four consecutive trading days. Citigroup forecasts that gold and silver will gradually recover and trend upward over the next 3 to 12 months, reaching $3000 and $36 per ounce, respectively.
Express News | ING Group (Netherlands): After another rate cut by the European Central Bank, temporarily halting the easing cycle will be 'neutral'.
Express News | Dutch International Bank: The European Central Bank will continue to lower interest rates in the new year.
Vantage Data Centers Issues US$114 Million Equivalent Bonds in APAC Guaranteed by Credit Guarantee & Investment Facility
Goldman Selectively Constructive on European Banks -- Market Talk
Express News | ING Groep is bearish on the outlook for CSI Commodity Equity Index next year, expecting Gold to stand out.
Enfinity Global Closes €165 Million Financing for 147 MW Solar Energy Projects in Italy
The EU and South America have reached a large-scale trade agreement, with Lithium seemingly being the key.
After 25 years of negotiations, the EU and the five member countries of the Southern Common Market (Mercosur countries) - Brazil, Argentina, Paraguay, Uruguay, and the newly joined Bolivia - reached a long-awaited trade agreement on December 6. Analysts indicate that the strategic importance of lithium may have played a significant role in this major agreement. If approved by the 27 EU countries, the EU-Southern Common Market partnership will create one of the largest free trade areas in the world, estimated to cover over 0.7 billion people, accounting for approximately 20% of global GDP.