- USDTHB : moving in the range 32.52 – 32.62 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, 32.45, resistance level is around 32.60, 32.85
- SET Index: 1,662.7 (-2.01%), 24 Feb 2022
- S&P 500 Index: 4,288.7 (+1.48%), 24 Feb 2022
- Thai 10-year government bond yield (interpolated) : 2.21% (-2.00 bps), 24 Feb 2022
- US 10-year treasury yield: 1.96 (-3.00bps), 24 Feb 2022
- Fed should raise rates a full percentage point by mid-year -Waller
- U.S., EU unlikely to cut Russia off SWIFT for now -Biden
- China central bank makes biggest weekly cash injection since Jan 2020
- Euro tries to recover after tumbling on Russian invasion of Ukraine
Fed should raise rates a full percentage point by mid-year -Waller
Federal Reserve Governor Christopher Waller on Thursday laid out the case for a "concerted" effort to rein in inflation, calling for raising interest rates a full percentage point by mid-year, starting with a half-percentage-point hike in March if data in coming weeks continues to point to an "exceedingly hot" economy. The Fed should also start trimming its $9 trillion balance sheet "no later than" its July meeting, he said. Once initial rate hikes are made, further increases would be in order if inflation stayed high, Waller said, or could slow or pause if inflation moderates in the second half as he expects. "Of course, it is possible that the state of the world will be different in the wake of the Ukraine attack, and that may mean that a more modest tightening is appropriate," Waller said. But, he also said, it is still far too early to read the impact of the conflict on the U.S. or world economy.
U.S., EU unlikely to cut Russia off SWIFT for now -Biden
The United States and the European Union have opted not to cut Russia off from the SWIFT global interbank payments system as part of their sanctions against Moscow for invading Ukraine, but could revisit that issue, U.S. President Joe Biden said on Thursday. Asked why that step was not taken, Biden told reporters the sanctions imposed against Russian banks exceeded the impact of cutting Russia off from SWIFT, and other countries had failed to agree on taking the additional step at this point. German Chancellor Olaf Scholz said Germany - a key trading partner of Russia - opposed cutting off Russia's access to the payment system at this point, but also suggested such a step could still follow at a later stage.
China central bank makes biggest weekly cash injection since Jan 2020
China's central bank made the biggest weekly cash injection in more than two years this week to maintain stable liquidity conditions towards the month-end. The People's Bank of China (PBOC) injected 300 billion yuan ($47.41 billion) worth of seven-day reverse repos into the banking system on Friday, compared with 10 billion yuan of such loans expiring on the same day. For the week, the PBOC injected 760 billion yuan on a net basis - the biggest weekly cash offering since January 2020.
Euro tries to recover after tumbling on Russian invasion of Ukraine
The 10-year government bond yield (interpolated) on the previous trading day was 2.21, -2.00 bps. The benchmark government bond yield (LB31DA) was 2.17, -3.00 bps. LB31DA could be between 2.15-2.20. Meantime, the latest closed US 10-year bond yields was 1.96%, -3.00bps. USDTHB on the previous trading day closed around 32.56 Moving in a range from 32.52-32.62 this morning. USDTHB could be closed between 32.50-32.60 today. Meantime, The euro was struggling to recover from its plunge the previous day in early Asia trading on Friday, after Russia's invasion of Ukraine had hit the common European currency and sent investors scrambling to the safety of the dollar, yen and Swiss franc.
Sources : ttb analytics , Bloomberg, CNBC, Investing, CEIC
