- USDTHB: moving in the range 34.305-34.385 this morning supportive level at 34.30 resistance level at 34.50
- SET Index: 1,454.8 (+1.22%), 3 Dec 2024
- S&P 500 Index: 6,049.9 (+0.05%), 3 Dec 2024
- Thai 10-year government bond yield (interpolated): 2.295 (-2.86 bps), 3 Dec 2024
- US 10-year treasury yield: 4.23 (+4.00 bps), 3 Dec 2024
- US job openings rise to 7.7 million as labor demand stabilizes
- Japan's service sector rebounds as demand strengthens
- Australia’s GDP growth falls short as households tighten spending
- South Korea's President announced and then lifted emergency martial law
- Dollar dips ahead of jobs data as focus shifts to Fed policy
US job openings rise to 7.7 million as labor demand stabilizes
US job openings increased in October, while layoffs eased, indicating stable worker demand. The JOLTS headline rose to 7.744 million, surpassing expectations. The vacancy rate climbed to 4.6%, driven by professional services and accommodation. Layoffs hit their lowest since June, and quits rose to 2.1%, the highest since May, suggesting greater worker confidence.
Japan's service sector rebounds as demand strengthens
Japan's service sector returned to growth in November, driven by stronger demand and new business. The final au Jibun Bank Service Purchasing Managers' Index (PMI) increased to 50.5 in November, up from 49.7 in October, slightly surpassing the preliminary reading of 50.2. New business expanded for the fifth month, driven by improved confidence and business growth. Employment grew at the fastest pace in four months, while outstanding business reached its strongest growth in eight months. Inflation remained high due to rising fuel, labor, and logistics costs, leading companies to increase prices at the fastest rate in six months.
Australia’s GDP growth falls short as households tighten spending
Australia’s economic growth stayed slow in the third quarter, with a rise in government spending offsetting weak exports and subdued consumer demand. Gross domestic product grew by 0.3% compared to the previous quarter, falling short of economists’ expectations of a 0.5% increase. Year-on-year, the economy expanded by 0.8%, below the forecasted 1.1%.
South Korea's President announced and then lifted emergency martial law
South Korean President Yoon Suk Yeol's surprise declaration of martial law for the first time in over 40 years — followed by a quick reversal — shocked markets and the public. Yoon announced martial law on Tuesday, accusing the opposition of trying to undermine his government. However, after facing strong opposition from parliament, he lifted the declaration on Wednesday, abandoning plans to ban political activities and censor the media.
Dollar dips ahead of jobs data as focus shifts to Fed policy
The 10-year government bond yield (interpolated) on the previous trading day was 2.295, -2.86 bps. The benchmark government bond yield (LB346A) was 2.28, +0.00 bps. Meantime, the latest closed US 10-year bond yields was 4.23, +4.00 bps. USDTHB on the previous trading day closed around 34.43, moving in a range of 34.305 – 34.385 this morning. USDTHB could be closed between 34.30 – 34.50 today. The dollar ended the day flat after weakening earlier, despite stronger-than-expected JOLTS data and continued hints from Fed officials about potential further rate cuts. Focus now shifts to upcoming data releases, including the ISM Non-manufacturing report, as well as comments from Fed Chair Powell. The euro saw some relief from recent political issues in France, rising above 1.0500, though upside remained limited as French PM Barnier faces a no-confidence vote on Wednesday. The Japanese yen was initially stronger, with USD/JPY trading below 150.00, but later rebounded from a dip below the 149.00 mark.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
