- USDTHB : moving in the range 34.40 – 34.45 this morning, supporting level of USDTHB is around 34.35 resistance level is around 34.50
- SET Index: 1,667.4 (-0.02%), 29 Apr 2022
- S&P 500 Index: 4,155.4 (+0.57%), 2 May 2022
- Thai 10-year government bond yield (interpolated) : 2.84% (+2.00 bps), 29 Apr 2022
- US 10-year treasury yield: 2.99 (+10.00bps), 2 May 2022
- U.S. manufacturing activity slowest in more than 18 months
- China April factory activity contracts at steeper pace as lockdowns bite
- Euro zone factory output growth stalled in April
- Dollar approaches 20-year highs, Fed meeting in focus
U.S. manufacturing activity slowest in more than 18 months
U.S. factory activity grew at its slowest pace in more than 1-1/2 years in April amid a rise in workers quitting their jobs, and manufacturers are becoming more anxious about supply over the summer because of China's zero tolerance COVID-19 policy. The ISM's index of national factory activity fell to a reading of 55.4 last month, the lowest since a matching reading in September 2020, from 57.1 in March. The last time the index was lower was in July 2020. In the survey, businesses cited coronavirus outbreaks overseas were creating a near-term headwind for the U.S. manufacturing community, noting that some manufacturers worried about their Asian partners ability to deliver reliably in the summer months.
China April factory activity contracts at steeper pace as lockdowns bite
China's factory activity contracted at a steeper pace in April as widespread COVID-19 lockdowns halted industrial production and disrupted supply chains, raising fears of a sharp economic slowdown in the second quarter that will weigh on global growth. The official manufacturing Purchasing Managers' Index (PMI) fell to 47.4 in April from 49.5 in March, in a second straight month of contraction, the National Bureau of Statistics (NBS) said on Saturday. That was the lowest since February 2020. Factory activity shrank at its steepest pace in 26 months, a Caixin survey of private business showed, with the new export orders index diving to its lowest since June 2020, suggesting a weakening in one of the few bright spots in the economy.
Euro zone factory output growth stalled in April
Euro zone manufacturing output growth stalled last month as factories struggled to source raw materials. Russia's invasion of Ukraine, coupled with renewed COVID-19 related lockdowns in China, have exacerbated supply chain bottlenecks and left factories struggling and forward looking indicators in the survey did not point to an imminent turnaround. Manufacturing Purchasing Managers' Index (PMI) fell to a 15-month low of 55.5 in April from March's 56.5, just above below an initial "flash" estimate of 55.3 and still comfortably above the 50 mark that separates growth from contraction.
Dollar approaches 20-year highs, Fed meeting in focus
The 10-year government bond yield (interpolated) on the previous trading day was 2.84, +2.00 bps. The benchmark government bond yield (LB31DA) was 2.70, +0.00 bps. LB31DA could be between 2.68-2.80. Meantime, the latest closed US 10-year bond yields was 2.99%, +10.00bps. USDTHB on the previous trading day closed around 34.34 Moving in a range from 34.40-34.45 this morning. USDTHB could be closed between 34.40-34.55 today. The dollar held just below a 20-year high against a basket of currencies on Monday before an expected Federal Reserve rate hike this week, with traders focused on the potential for the U.S. central bank to adopt an even more hawkish tone than many expect.
