ING GROEP NV

ING is reportedly seeking buyers for a portfolio of 12 data center loans worth around $500 million, joining a broader push by banks to distribute credit risk tied to the artificial intelligence infrastructure...

ING analysts James Knightley, Carsten Brzeski, Padhraic Garvey, Lynn Song and Chris Turner note that the Dollar has softened after the Democratic sweep in US midterms, though losses have been pared with Nasdaq futures stabilizing.

The Dollar has weakened following the Democratic sweep in the US midterms, although its losses have narrowed as Nasdaq futures stabilise, according to ING analysts James Knightley, Carsten Brzeski, Padhraic Garvey, Lynn Song and Chris Turner.

Chris Turner at ING notes EUR/CHF fell after Swiss inflation surprised at 1.5% year-on-year, raising doubts that the Swiss National Bank can avoid tightening through 2027. He recalls the SNB’s 2023 strategy of driving the Swiss Franc stronger via FX sales and expects growing interest in the currency, with downside risks to existing EUR/CHF forecasts over coming months.

Francesco Pesole at ING notes EUR/USD is trying to establish support around 1.1200 after a strong start to the week. A Democratic sweep could offer some help, but he does not foresee major sentiment changes.

ING strategists Warren Patterson and Ewa Manthey note that Gold fell to a one-year low late last week as surging Oil prices fueled inflation concerns and expectations of higher-for-longer interest rates.

Francesco Pesole at ING highlights that the Bank of Canada’s (BoC) 25bp hike to 2.50% is unlikely to be the last, with another move expected in early 2027 and risks of an earlier increase if energy prices stay high.

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