- USDTHB: moving in the range 33.82-33.86 this morning supportive level at 33.80 resistance level at 33.95
- SET Index: 1,184.9 (-0.4%), 25 Mar 2025
- S&P 500 Index: 5,776.7 (+0.2%), 25 Mar 2025
- Thai 10-year government bond yield (interpolated): 2.083 (+2.67 bps), 25 Mar 2025
- US 10-year treasury yield: 4.31 (-3.0 bps), 25 Mar 2025
- US consumer confidence falls to its lowest since early 2021
- German business confidence rises following Merz's spending plan
- The BOJ discussed potential rate hikes at its January meeting
- Thailand's car production continued to drop in February
- The dollar index saw a slight decrease after weak data
US consumer confidence falls to its lowest since early 2021
US consumer confidence dropped in March to its lowest point in four years due to concerns about rising prices and the economic outlook amid escalating tariffs from the Trump administration. The Conference Board’s confidence index fell by 7.2 points to 92.9, below the expected 94. Expectations for the next six months fell nearly 10 points to 65.2, the lowest level in 12 years, while the measure of current conditions showed a smaller decline. Additionally, average 12-month inflation expectations increased to 6.2% from 5.8%, as consumers remained worried about high prices for essential goods and the effects of tariffs.
German business confidence rises following Merz's spending plan
German business optimism reached its highest level since June 2024, as Chancellor-designate Friedrich Merz prepares a massive investment to modernize the economy. The Ifo expectations index rose to 87.7 in March, surpassing expectations. The outlook improved after last month's election and Merz’s pledge to upgrade infrastructure and military, with Parliament approving the investment package and ending fiscal austerity.
The BOJ discussed potential rate hikes at its January meeting
BoJ's January meeting minutes showed most members saw a higher chance of meeting the economic outlook, with some noting real interest rates would remain negative even after a hike. One member suggested gradual rate increases if inflation rises, while another stressed adjusting policy to prevent yen depreciation and market overheating. Members also called for caution in signaling rate hikes and proposed a 1% rate in the second half of fiscal 2025.
Thailand's car production continued to drop in February
Thailand’s car production dropped 13.62% in February, marking the 19th straight month of decline due to weak domestic sales and exports. Domestic sales fell 6.68%, while exports dropped 8.34%, affected by high household debt and increased competition. The federation forecasts a 2% production increase this year after a 20% decline in 2024, the lowest output in four years.
The dollar index saw a slight decrease after weak data
The 10-year government bond yield (interpolated) on the previous trading day was 2.083, +2.67 bps. The benchmark government bond yield (LB353A) was 2.10, +4.0 bps. Meantime, the latest closed US 10-year bond yields was 4.31, -3.0 bps. USDTHB on the previous trading day closed around 34.01, moving in a range of 33.82 – 33.86 this morning. USDTHB could be closed between 33.80 – 33.95 today. The dollar saw only a slight decline after recovering from intraday lows, supported by a brief dip below the 104.00 level despite weak U.S. consumer confidence data. President Trump reaffirmed the April 2nd tariffs and criticized the EU on trade. The euro was mixed, with EUR/USD fluctuating around 1.0800, ultimately losing earlier gains from German Ifo data. The Japanese yen strengthened as USD/JPY retreated from resistance near 151.00, falling below the 150.00 mark.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
