ING Groep(US:ING) Xin Lang Cai Jing·2026-01-05 13:47Group 1 - The core viewpoint of the report by ING is that the recent U.S. attack on Venezuela has significant implications for the financial markets, particularly concerning the dollar and oil prices, with investors assessing short-term, medium-term, and long-term impacts [1][2] - The initial market reaction to the event on January 3 was a mild "risk-off" sentiment, with gold and the Swiss franc gaining traction, while the dollar received some support [1][2] - The oil market is experiencing uncertainty regarding the short-term impact on Venezuela's oil production, which is currently assessed to be around 500,000 barrels per day due to sanctions [3][4] Group 2 - The future of the oil market will depend on how much Venezuela can increase its oil production, with estimates suggesting it could take 5 to 10 years to reach a level of 2.5 to 3 million barrels per day [4] - The euro to dollar exchange rate briefly surpassed 1.18 in late December 2025 but is now under pressure, with the future development of the Venezuelan situation likely to influence further declines [4] - Geopolitical factors are critical, as U.S. President Trump has not ruled out the possibility of deploying ground troops to Venezuela, which could lead to a more pessimistic outlook on U.S. fiscal health and the dollar's future [4]