- USDTHB : moving in the range 34.30 – 34.40 this morning, supporting level of USDTHB is around 34.30 resistance level is around 34.50
- SET Index: 1,643.3 (-0.55%), 5 May 2022
- S&P 500 Index: 4,146.9 (-3.63%), 5 May 2022
- Thai 10-year government bond yield (interpolated) : 3.06% (+9.50 bps), 5 May 2022
- US 10-year treasury yield: 3.05 (+12.00bps), 5 May 2022
- China’s Services Activity Falls in April 2022, Second Steepest on Record
- Worker shortages hamper U.S. private payrolls, services sector in April
- U.S. service sector slows; input prices measure at record high
- Dollar index hits 20-year high, sterling tumbles on dovish BoE
China’s Services Activity Falls in April 2022, Second Steepest on Record
China's services sector activity contracted at the second-steepest rate on record in April 2022, according to a private-sector survey released on Thursday. The country’s latest COVID-19 outbreaks, and the ensuing preventative measures, also led to sharper reductions in new business and employment. The Caixin services purchasing managers' index (PMI) was 36.2, down from March’s 42 figure and below the 50-mark indicating economic growth. This was the index’s second-lowest since the survey began in November 2005, after it hit a record low of 26.5 in February 2020 at the beginning of the COVID-19 pandemic.
Worker shortages hamper U.S. private payrolls, services sector in April
U.S. private employers hired the fewest workers in two years in April amid chronic labor shortages and rising costs, which are hitting small businesses the hardest, raising the possibility that overall job growth slowed considerably last month. Government data on Tuesday showed there were a record 11.5 million job openings on the last day of March, which pushed up the jobs-workers gap to a record 3.4% of the labor force from 3.1% in February. Private payrolls rose by 247,000 jobs last month, the smallest gain since April 2020, after increasing 479,000 in March. The slowdown in hiring was across the board, with leisure and hospitality industry payrolls rising by 77,000 jobs, the fewest since late 2020.
U.S. service sector slows; input prices measure at record high
U.S. services industry growth unexpectedly slowed in April, with employment contracting for the second time this year, while a measure of input prices raced to a record high. The Institute for Supply Management said on Wednesday its non-manufacturing activity index fell to a reading of 57.1 last month from 58.3 in March. The ISM's measure of new orders received by services businesses fell to 54.6 from a reading of 60.1 in March. The moderation came despite spending shifting back to services from goods. Order backlogs also increased at a slower pace relative to March and exports cooled.
Dollar index hits 20-year high, sterling tumbles on dovish BoE
The 10-year government bond yield (interpolated) on the previous trading day was 3.06, +9.50 bps. The benchmark government bond yield (LB31DA) was 2.97, +7.00 bps. LB31DA could be between 2.93-3.05. Meantime, the latest closed US 10-year bond yields was 3.06%, +12.00bps. USDTHB on the previous trading day closed around 34.10 Moving in a range from 34.30-34.40 this morning. USDTHB could be closed between 34.30-34.50 today. The dollar hit a 20-year high against a basket of currencies on Thursday as a sharp stocks selloff boosted demand for the safe-haven currency and as the Federal Reserve was seen as tightening monetary policy more than peers. Sterling fell to its lowest level since June 2020 after the Bank of England raised interest rates to their highest since 2009 but warned that the economy was at risk of recession.
