Oil market speculators have repositioned so aggressively that the market is now oversold. ING expects oil prices to rise again, which would also give the ECB reason to hike once more.
Europe's main upside from AI is as a user, not a builder. Low barriers to AI adoption, tight labor markets, and strong research capabilities mean Europe will benefit from using AI to boost productivity. Open source models and lower AI model prices will further benefit European customers. This is a long-term opportunity for European equities.