- USDTHB : moving in the range 33.30 – 33.45 this morning, supporting level of USDTHB is around 33.30 resistance level is around 33.50,33.70
- SET Index: 1,678.5 (-0.19%), 18 Mar 2022
- S&P 500 Index: 4,463.1 (+1.16%), 18 Mar 2022
- Thai 10-year government bond yield (interpolated) : 2.31% (+2.00 bps), 18 Mar 2022
- US 10-year treasury yield: 2.14 (-6.00bps), 18 Mar 2022
- China keeps lending benchmark unchanged but Q2 easing expected
- IMF says Fed tightening appropriate, adds to risks for emerging markets
- UK consumer spending in line with pre-pandemic level
- Dollar Up, Yen Down in a Tale of Two Central Banks
China keeps lending benchmark unchanged but Q2 easing expected
China kept its benchmark interest rate for corporate and household lending unchanged on Monday, as expected, although analysts say the case for monetary stimulus is building amid mounting external risks to an already slowing economy. The one-year loan prime rate (LPR) was held at 3.70% while the five-year LPR remained at 4.60%. Markets now widely expect policymakers to resume monetary easing soon to revive an economy hit by a domestic COVID-19 resurgence, weaker credit growth and a faltering property sector, while increasing global risks from the Ukraine conflict also add pressure.
IMF says Fed tightening appropriate, adds to risks for emerging markets
The U.S. Federal Reserve is acting "appropriately" to tighten monetary policy and signal a higher future rate path, but the policy shift does bring risks for emerging market countries dependent on dollar funding, IMF spokesman Gerry Rice said on Thursday. Continuing to give clear forward guidance that reacts proportionately to shifts in the data will help keep inflation expectations anchored, Rice said. "This faster pace of Fed normalization increases the risks faced by other countries reliant on dollar funding, especially in emerging and developing economies.“
UK consumer spending in line with pre-pandemic level
British consumers' spending on credit and debit cards slipped back slightly in the week to March 10 to match its average level in February 2020, weekly Bank of England CHAPS data published by the Office for National Statistics showed on Friday. Retail footfall in the week to March 12 was up 3% on the week before and 87% of its level in the same week of 2019, the ONS said, based on Springboard data. Some 83% of consumers and 47% of businesses reported that prices had risen over the past month.
Dollar Up, Yen Down in a Tale of Two Central Banks
The 10-year government bond yield (interpolated) on the previous trading day was 2.31, +2.00 bps. The benchmark government bond yield (LB31DA) was 2.31, +4.00 bps. LB31DA could be between 2.24-2.32. Meantime, the latest closed US 10-year bond yields was 2.14%, -6.00bps. USDTHB on the previous trading day closed around 33.31 Moving in a range from 33.30-33.45 this morning. USDTHB could be closed between 33.35-33.50 today. The dollar was up on Monday morning in Asia, recording slight gains on the Japanese yen to as much as 119.3 yen and challenging the six-year peak of 119.39 touched on Friday. Moves in the pair could slow this week, but the dollar will climb further on the yen in the coming months as the gap between U.S. and Japanese interest rates widens.
Sources : ttb analytics , Bloomberg, CNBC, Investing, CEIC
