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31 Mar 2025

Copper continues its retreat– ING

Copper continues retreating from a nine-month high amid broader risk-off sentiment, ING’s commodity analysts Warren Patterson and Ewa Manthey note.

Tariffs are bearish for Copper

"Copper continues its retreat from a nine-month high amid broader risk-off sentiment as markets are awaiting the White House’s so-called reciprocal tariffs due on Wednesday. Tariffs are bearish for Copper and other industrial metals in the context of slowing global growth and keeping inflation higher for longer."

Mar 31, 2025

USD: Waiting to be lifted by tariffs – ING

The US is due to announce a new historic round of tariffs on trading partners on Wednesday, which President Trump has now famously dubbed 'liberation day', ING’s FX analysts Francesco Pesole notes.
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Mar 31, 2025

AUD: RBA hold amid tariff noise – ING

The Reserve Bank of Australia announces rates at 0430 BST tomorrow and we expect a hold, in line with consensus and market pricing (less than 10% implied probability of a cut).
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