- USDTHB : moving in the range 34.51 – 34.56 this morning, supporting level of USDTHB is around 34.53 resistance level is around 34.58
- SET Index: 1,636.9 (-0.30%), 8 Jun 2022
- S&P 500 Index: 4,115.8 (-1.09%), 8 Jun 2022
- Thai 10-year government bond yield (interpolated) : 2.93% (-6.71bps), 8 Jun 2022
- US 10-year treasury yield: 3.03 (+5.00bps), 8 Jun 2022
- US Wholesale Inventories rose in April
- UK to see slowest growth of developed countries, says OECD
- China Trade Surplus Largest in 4 Months
- US and Asian Stock slipped, Yield higher as worried over tightening policy outlook
US Wholesale Inventories rose in April
US Wholesale inventories of April 2022 increased 2.2 percent
from a month earlier to $861.8 billion, following a 2.7 percent rise in March
as growth in sales moderated. Wholesale motor vehicle inventories rose 1.3 per
cent after accelerating 2.4 per cent in March. Wholesale inventories, excluding
autos, increased a solid 2.2 per cent in April. This component goes into the
calculation of GDP and suggested that inventory investment could provide a lift
to economic growth this quarter. On an annual basis, wholesale inventories
jumped 24 percent in April, also above an earlier reading of 23.8 percent.
UK to see slowest growth of developed countries, says OECD
OECD expects the UK economy to grow by 3.6% this year, followed by 0% growth
next year. It means the UK will go from the second-fastest growing economy in
the G7 group of industrial nations to the slowest growing in 2023. This is
since the UK was being hit hard by a combination of factors, including higher
interest rates, higher taxes, reduced trade and more expensive energy and food.
Inflation is expected to keep rising and peak at over 10% at the end of this
year before gradually declining to 4.7% by the end of 2023. However, there is a
upside risk from the chancellor's emergency measures of £15bn worth announced
on 26th May. This plan included a £400 energy bill discount for every household
in the UK.
China Trade Surplus Largest in 4 Months
China's trade surplus jumped to USD 79.76 billion in May 2022 from USD 43.28
billion in the same month a year earlier, exceeding market forecasts of a
surplus of USD 58.0 billion while pointing to the largest figure since the
start of the year. Exports grew 16.9% yoy, the most in four months, as factory
production resumed and logistic issues eased following an easing of COVID-19
curbs in Shanghai and Beijing. Meanwhile, imports rose by 4.1 percent, picking
up as domestic demand recovered. For the first five months of the year, the
trade surplus was at USD 290.46 billion, with exports rising 13,5% while
imports gained 6.6%.
US and Asian Stock slipped, Yield higher as worried over
tightening policy outlook
The 10-year government bond yield (interpolated) on the previous trading day
was 2.93, -6.71 bps. The benchmark government bond yield (LB31DA) was 2.83,
-3.00 bps. LB31DA could be between 2.80-2.88. Meantime, the latest closed US
10-year bond yields was 3.03, +5.00 bps. USDTHB on the previous trading day
closed around 34.48 Moving in a range from 34.51-34.56 this morning. USDTHB
could be closed between 34.53-34.58 today. US Stocks slipped in Asia on Thursday
and bonds were again on the back foot, weighed down by the impact of high
inflation. The 10-year US Treasury note yield, consolidated above 3% as
investors assessed the outlook for tightening monetary policy ahead of a
critical US inflation reading. Asian stocks fell, U.S. bond yields rose and a
soaring dollar pushed to a two-decade high against the yen on Thursday as
investors worried about the outlook for more rate rises ahead of a key meeting
of the European Central Bank later in the day.
