- USDTHB : moving in the range 33.75 – 33.85 this morning, supporting level of USDTHB is around 33.70 resistance level is around 33.90
- SET Index: 1,675.6 (+0.45%), 19 Apr 2022
- S&P 500 Index: 4,462.2 (+1.59%), 19 Apr 2022
- Thai 10-year government bond yield (interpolated) : 2.67% (+5.00 bps), 19 Apr 2022
- US 10-year treasury yield: 2.93 (+8.00bps), 19 Apr 2022
- IMF cuts global growth forecast over Ukraine war
- Oil prices fall 5% after IMF cuts growth outlook
- Treasury Short-End Yields Surge While 30-Year Rate Tops 3%
- U.S. dollar rockets to 20-year peak vs yen on Fed, BOJ policy difference
IMF cuts global growth forecast over Ukraine war
The International Monetary Fund has cut its global growth forecasts because of the war in Ukraine, warning that Russia’s invasion could lead to the fragmentation of the world economy into rival blocs. In a half-yearly update, the IMF said prospects had worsened “significantly” in the past three months as it reduced its growth estimate for 2022 from 4.4% to 3.6%. The fund said every member of the G7 group of leading industrialized nations and the bigger developing countries would grow less rapidly this year than previously expected, and there was a strong risk of an even worse outcome. The US will suffer the least damage from the war and has had its growth forecast for 2022 shaved by 0.3 points to 3.7%. Germany and Italy, both more exposed to Russia, have had their growth estimates reduced by 1.7 points and 1.5 points respectively, to 2.1% and 2.3%.
Oil prices fall 5% after IMF cuts growth outlook
Oil prices were down about 5% in volatile trading on Tuesday on demand concerns after the International Monetary Fund (IMF) cut its economic growth forecasts and warned of higher inflation. Prices declined despite lower output from OPEC+, which produced 1.45 million barrels per day (bpd) below its targets in March, as Russian output began to decrease following sanctions imposed by the West over its invasion of Ukraine. This morning oil prices rose about 1% on Wednesday, gaining back some of their losses during the previous session.
Treasury Short-End Yields Surge While 30-Year Rate Tops 3%
Treasury yields surged across the curve Tuesday, with short-end rates leading the way higher, while the rate on the benchmark 30-year bond rose above 3% for the first time in three years. Money markets already betting on an almost half-point Federal Reserve rate hike next month received a wake-up call Monday from St. Louis Fed President James Bullard who said a three-quarter-point increase shouldn’t be ruled out. The last increase of such magnitude was in 1994.
U.S. dollar rockets to 20-year peak vs yen on Fed, BOJ policy difference
The 10-year government bond yield (interpolated) on the previous trading day was 2.67, +5.00 bps. The benchmark government bond yield (LB31DA) was 2.58, +3.00 bps. LB31DA could be between 2.53-2.63. Meantime, the latest closed US 10-year bond yields was 2.93%, +8.00bps. USDTHB on the previous trading day closed around 33.72 Moving in a range from 33.75-33.85 this morning. USDTHB could be closed between 33.70-33.90 today. The dollar surged on Tuesday to a 20-year high against the Japanese yen. The greenback hit 128.97 yen, the highest since May 2002. It was last up 1.5% at 128.94 yen. The dollar has risen 5.9% on the yen so far this month, on pace for the largest monthly percentage rise since 2016.
Sources : ttb analytics , Bloomberg, CNBC, Investing, CEIC
