- USDTHB: moving in the range 34.215-34.28 this morning supportive level at 34.10 resistance level at 34.40
- SET Index: 1,386.9 (+1.59%), 23 Dec 2024
- S&P 500 Index: 5,974.1 (+0.73%), 23 Dec 2024
- Thai 10-year government bond yield (interpolated): 2.261 (-0.44 bps), 23 Dec 2024
- US 10-year treasury yield: 4.52 (-5.0 bps), 20 Dec 2024
- Orders for US business equipment rise by most in over a year
- US consumer confidence declines as political uncertainty impacts outlook
- Revisions show UK economy stalled after Labour took office
- Honda and Nissan begin merger talks, aim for 2026
- Dollar recovers after sharp decline on Friday
Orders for US business equipment rise by most in over a year
US factory orders for business equipment rose sharply in November, marking the strongest monthly gain in over a year. Core capital goods orders increased 0.7%, reversing a 0.1% decline in October and surpassing the 0.1% expected gain. The report showed growth in machinery, computers, and primary metals. However, overall durable goods orders fell 1.1% due to a drop in commercial aircraft orders and lower defense spending. Excluding transportation, orders decreased 0.1%.
US consumer confidence declines as political uncertainty impacts outlook
US consumer confidence unexpectedly dropped in December to 104.7 from 111.7, marking the first decline in three months due to concerns over the economy and uncertainty around the Trump administration's policies. The Present Situation Index fell to 140.2, and the Expectations Index dropped sharply to 81.1, near recession levels. Survey responses highlighted growing concerns about politics and tariffs, with 46% of respondents expecting tariffs to increase living costs and 21% anticipating job growth from them.
Revisions show UK economy stalled after Labour took office
Revised estimates show the UK economy did not grow in the third quarter, indicating a sharper slowdown than anticipated since the Labour Party took office. GDP remained flat in the third quarter, down from a previous estimate of 0.1% growth, with economists not expecting any revisions. The second quarter also performed weaker than expected, with growth of 0.4% instead of 0.5%. Furthermore, recent data suggests the economy is lacking momentum as the year ends.
Honda and Nissan begin merger talks, aim for 2026
Honda Motor Co. and Nissan Motor Co. have made their initial move toward a potential merger, aiming to form a powerful entity capable of withstanding the intense competition from China that is shaking up the industry. On Monday, the two Japanese automakers signed a preliminary agreement to begin merger discussions and held a joint press conference in Tokyo. They announced plans to establish a holding company for the new organization, which is expected to be listed by August 2026. Additionally, Honda will have the authority to appoint the majority of the new company's board members.
Dollar recovers after sharp decline on Friday
The 10-year government bond yield (interpolated) on the previous trading day was 2.261, -0.44 bps. The benchmark government bond yield (LB346A) was 2.22, -1.0 bps. Meantime, the latest closed US 10-year bond yields was 4.52, +0.00 bps. USDTHB on the previous trading day closed around 34.26, moving in a range of 34.215 – 34.28 this morning. USDTHB could be closed between 34.10 – 34.40 today. The dollar strengthened on Monday, though within narrow ranges and with very little market activity due to many participants being absent ahead of the upcoming holidays. There was no commentary from the Federal Reserve, and while some U.S. data was released, it didn’t have a significant impact. The Japanese yen underperformed, pressured by the stronger dollar and rising U.S. Treasury yields. Meanwhile, the euro hovered around 1.0400 during the North American session. ECB officials, including President Lagarde, suggested the bank is nearing its 2% inflation target.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
