- USDTHB : moving in the range 33.10 – 33.20 this morning, supporting level of USDTHB is around 33.00 resistance level is around 33.30
- SET Index: 1,647.1 (+0.21%), 10 Mar 2022
- S&P 500 Index: 4,259.5 (-0.43%), 10 Mar 2022
- Thai 10-year government bond yield (interpolated) : 2.27% (+1.30 bps), 10 Mar 2022
- US 10-year treasury yield: 1.98 (+4.00bps), 10 Mar 2022
- ECB Surprises With Faster Stimulus Exit on Risk to Inflation
- Households squeezed as U.S. consumer prices accelerate highest in 40 years
- China Tech Selloff Deepens as U.S. Delisting Fears Alarm Traders
- Euro eases after ECB meeting, while dollar firms following inflation data
ECB Surprises With Faster Stimulus Exit on Risk to Inflation
The European Central Bank unexpectedly accelerated its wind-down of monetary stimulus, signaling it’s more concerned about record inflation than weaker economic growth as Russia’s invasion of Ukraine threatens to propel prices even higher. ECB officials pledged to slow bond buying from the start of May, and said they could halt the program as soon as the third quarter. They tried to temper that by making a subsequent interest-rate hike less automatic. The outcome defied the expectations of economists who anticipated a delay in major policy decisions to allow time to assess the implications of Russia’s attack.
Households squeezed as U.S. consumer prices accelerate highest in 40 years
The consumer price index increased 0.8% last month after gaining 0.6% in January. A 6.6% rebound in gasoline prices accounted for almost a third of the increase in the CPI. Gasoline prices had declined 0.8% in January. Food prices jumped 1.0%, with the cost of food consumed at home soaring 1.4%. Prices for fruit and vegetables increased by the most since March 2010, while the rise in the cost of dairy and related products was the largest in nearly 11 years. In the 12 months through February, the CPI shot up 7.9%, the biggest year-on-year increase since January 1982. That followed a 7.5% jump in January and was the fifth straight month of annual CPI readings north of 6%. February's increase in the CPI was in line with economists' expectations.
China Tech Selloff Deepens as U.S. Delisting Fears Alarm Traders
Chinese tech shares tumbled, tracking overnight weakness in their U.S. peers, as renewed regulatory concerns unnerved investors still reeling from wild price swings this week. Hong Kong’s Hang Seng Tech Index plunged as much as 7.1% in early trading, the most since July. JD.com and Trip.com were among the worst performers. Meanwhile the benchmark Hang Seng Index slumped 3.3%. Friday’s selloff comes as the U.S. Securities and Exchange Commission identified five Chinese firms this week that could be subject to delisting if they failed to comply with certain auditing requirements.
Euro eases after ECB meeting, while dollar firms following
inflation data
The 10-year government bond yield (interpolated) on the previous trading day
was 2.27, +1.30 bps. The benchmark government bond yield (LB31DA) was 2.21,
-1.00 bps. LB31DA could be between 2.18-2.25. Meantime, the latest closed US
10-year bond yields was 1.98%, +4.00bps. USDTHB on the previous trading day
closed around 33.08 Moving in a range from 33.10-33.20 this morning. USDTHB
could be closed between 33.00-33.28 today. The euro retreated from its
overnight gains on Thursday following the European Central Bank's announcement
it will phase out its stimulus in the third quarter, while the dollar
strengthened after a strong U.S. inflation report.
Sources : ttb analytics , Bloomberg, CNBC, Investing, CEIC
