Report published May 14, 2026

FX Daily: Headlines from Beijing Can Cap USD - ING Analysis (14 May 2026)

ING · May 14, 2026

Stronger-than-expected US PPI and Gulf tensions are supporting the USD, while Trump's visit to China offers potential risk-on sentiment. Political instability in the UK via a potential Labour leadership challenge adds local uncertainty to the Pound.

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Finvaulta summarizes ING's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.

Key Takeaways

1.Hot US PPI data (1.4% MoM) is raising Fed tightening concerns, though some components like airfares may be seasonal.
2.Trump's visit to China could provide conciliatory headlines and risk-on sentiment, keeping a cap on the USD's recent strength.
3.UK political risk is rising as Health Secretary Wes Streeting reportedly prepares a leadership challenge against PM Keir Starmer.

USD: Hot PPI raising some concerns
EUR: Short-term fair value at 1.180
GBP: Political headlines remain central
TRY: A cautious tone and a new forecast

Report data

Chinese President Xi Jinping with US President Donald Trump during a welcome ceremony in Beijing on 14 May 2026

Metric	Estimate	Context
US PPI Headline	1.4%	Compared to consensus of 0.5%
UK 1Q GDP	0.6%	Accelerated in line with expectations.
Turkey April Inflation	32.4%	Jumped from 30.9% previously.
Oil Price	100 USD/bbl	Trading above this level, impacting inflation models.