- USDTHB : moving in the range 33.40 – 33.60 this morning, supporting level of USDTHB is around 33.30 resistance level is around 33.50,33.70
- SET Index: 1,644.4 (-0.96%), 15 Mar 2022
- S&P 500 Index: 4,262.5 (+2.12%), 15 Mar 2022
- Thai 10-year government bond yield (interpolated) : 2.32% (-0.80 bps), 15 Mar 2022
- US 10-year treasury yield: 2.15 (+1.00bps), 15 Mar 2022
- Oil Slumps With Iran Talks In the Offing as China Lockdowns Grow
- U.S. Producer Prices Rise 10%, Reinforcing Fed’s Rate-Hike Path
- Japan March manufacturers' mood up, inflation remains a major concern
- Yuan Jumps After Report on Saudis Weighing Its Use in Oil Deals
Oil Slumps With Iran Talks In the Offing as China Lockdowns Grow
Futures in New York declined for a second session and closed below $97 a barrel while Brent settled below $100. In a tumultuous session, oil’s rally dissipated after Russian Foreign Minister Sergei Lavrov said that sanctions on his country won’t affect the Iranian nuclear deal, sparking optimism that the agreement could be revived. Meanwhile, China’s latest virus outbreak, with growing clusters spawned in some of its most-developed cities and economic zones, poses an unprecedented challenge for the country’s Covid Zero strategy. The nation injected more funds into the financial system and set a weaker-than-expected reference rate for the yuan, seeking to support the economy.
U.S. Producer Prices Rise 10%, Reinforcing Fed’s Rate-Hike Path
Prices paid to U.S. producers rose strongly in February on higher costs of goods, underscoring inflationary pressures that set the stage for a Federal Reserve rate hike this week. The producer price index for final demand increased 10% from February of last year and 0.8% from the prior month, Labor Department data showed Tuesday. That followed an upwardly revised 1.2% monthly gain in January. The data reflect the biggest monthly gain in the price of goods in data back to 2009, with two-thirds of the increase due to energy. Food prices were also up. It’s the latest indication of rapid inflation in the U.S., and prices are poised to accelerate further after Russia’s invasion of Ukraine sent prices of some raw materials to new highs.
Japan March manufacturers' mood up, inflation remains a major concern
Japanese manufacturers' business confidence improved for the first time in three months in March, as automakers became less pessimistic, though firms feared a fresh surge in energy prices due to the Ukraine crisis, the Reuters Tankan poll showed. Service-sector sentiment turned negative for the first time since October due to COVID-19 curbs and as global inflation squeezed corporate profits.
Yuan Jumps After Report on Saudis Weighing Its Use in Oil Deals
The 10-year government bond yield (interpolated) on the previous trading day was 2.32, -0.80 bps. The benchmark government bond yield (LB31DA) was 2.28, -4.00 bps. LB31DA could be between 2.25-2.32. Meantime, the latest closed US 10-year bond yields was 2.15%, +1.00bps. USDTHB on the previous trading day closed around 33.50 Moving in a range from 33.40-33.60 this morning. USDTHB could be closed between 33.40-33.60 today. The Chinese yuan reversed earlier declines following a report that Saudi Arabia is in active talks with Beijing to price some of its oil sales to China in the currency. The offshore yuan erased a loss of as much as 0.3%, and traded slightly stronger at 6.39 per dollar.
Sources : ttb analytics , Bloomberg, CNBC, Investing, CEIC
