- USDTHB : moving in the range 32.25 – 32.45 this morning, USD has been strengthen as Russia-Ukraine tension escalates, Fed hike may likely drive USDTHB up in medium term, supporting level of USDTHB is around 32.30, resistance level is around 32.60
- SET Index: 1,694.3 (-1.11%), 21 Feb 2022
- S&P 500 Index: 4,348.9 (-0.72%), 18 Feb 2022
- Thai 10-year government bond yield (interpolated) : 2.18% (+0.00 bps), 21 Feb 2022
- US 10-year treasury yield: 1.92 (-5.00bps), 18 Feb 2022
- Fed's Bowman keeping open mind on possible half percentage point rate hike in March
- Baltics call for swift EU sanctions on Russia after it recognizes Ukrainian breakaway republics
- German economy likely to shrink again in Q1: Bundesbank
- Dollar Up as Russia-Ukraine Tension Escalates
Fed's Bowman keeping open mind on possible half percentage point rate hike in March
Fed Michelle Bowman said on Monday that she will assess incoming economic data over the next three weeks in deciding whether a half percentage point interest rate rise at the central bank's next meeting in March is needed, a stance that underscores divisions among policymakers on how aggressively to begin its tightening cycle. Before the next meeting, there will be another inflation report and monthly jobs figures for the central bank to digest, as policymakers also keep an eye on escalating geopolitical tensions on fears Russia will invade Ukraine. Investors currently see an 83% probability of a quarter-percentage point rate hike next month. Fed Bullard had initially prompted market expectations to price in a more aggressive move after he called 11 days ago for the Fed to raise rates by a full percentage point by its June meeting.
Baltics call for swift EU sanctions on Russia after it recognizes Ukrainian breakaway republics
The European Union must impose sanctions on Russia immediately after it recognised two Ukrainian breakaway regions as independent, the governments of the Baltic states of Estonia, Latvia and Lithuania said after Russia's announcement. Russian President Vladimir Putin recognised the Donetsk and Luhansk regions in eastern Ukraine as independent entities on Monday, upping the ante in a crisis the West fears could unleash a major war. "Recognition of Donetsk & Luhansk separatist 'republics' by Russia is an intolerable violation of international law. It also means unilateral withdrawal from Minsk agreements", said Lithuanian President Gitanas Nauseda, referring to the Donbass ceasefire documents.
German economy likely to shrink again in Q1: Bundesbank
The German economy will probably shrink again in the current quarter as a new wave of coronavirus infections stops many people from going to work, the Bundesbank said on Monday, while predicting a rebound in the spring. Europe's largest economy went into reverse in the last three months of 2021 as its large industrial sector was hit by supply snags. These were now easing but the rapid spread of the Omicron variant was affecting services and employment in general. "Unlike in previous waves of the pandemic it is not just activity in the services sector that is likely affected by containment measures and behavioural changes," Germany's central bank wrote in a monthly report. "Instead, pandemic-related absence from work is likely to dampen economic activity markedly also in other sectors."
Dollar Up as Russia-Ukraine Tension Escalates
The 10-year government bond yield (interpolated) on the previous trading day was 2.18, +0.00 bps. The benchmark government bond yield (LB31DA) was 2.15, +0.00 bps. LB31DA could be between 2.12-2.17. Meantime, the latest closed US 10-year bond yields was 1.92%, -5.00bps. USDTHB on the previous trading day closed around 32.23 Moving in a range from 32.25-32.45 this morning. USDTHB could be closed between 32.40-32.55 today. Meantime, The dollar was up on Tuesday morning in Asia as Russia recognized two breakaway parts of eastern Ukraine, increasing concerns of a major war.
Sources : ttb analytics , Bloomberg, CNBC, Investing, CEIC
