- USDTHB : moving in the range 34.75 – 34.85 this morning, supporting level of USDTHB is around 34.70 resistance level is around 35.00
- SET Index: 1,632.6 (-0.53%), 10 Jun 2022
- S&P 500 Index: 3,900.9 (-2.95%), 10 Jun 2022
- Thai 10-year government bond yield (interpolated) : 2.93% (+0.20bps), 10 Jun 2022
- US 10-year treasury yield: 3.15 (+11.00bps), 10 Jun 2022
- U.S. annual inflation posts largest gain in nearly 41 years
- Bank of England says 12-month inflation expectations hit record
- South Korea June 1-10 exports shrink 12.7%, trade deficit at $6 billion
- Dollar rises as hot U.S. inflation data seen keeping Fed hawkish
U.S. annual inflation posts largest gain in nearly 41 years
U.S. consumer prices accelerated in May as gasoline prices hit a record high and the cost of food soared, leading to the largest annual increase in nearly 40-1/2 years, suggesting that the Federal Reserve could continue with its 50 basis points interest rate hikes through September to combat inflation. The faster-than-expected increase in inflation last month reported by the Labor Department on Friday also reflected a surge in rents, which increased by the most since 1990. The consumer price index increased 8.6% from last year and increased 1.0% last month after gaining 0.3% in April. The so-called core CPI increased 6.0% in the 12-months through May. That followed a 6.2% rise in April. The inflation report was published ahead of an anticipated second 50 basis points rate hike from the Fed this week. The U.S. central bank is expected to raise its policy interest rate by an additional half a percentage point in July.
Bank of England says 12-month inflation expectations hit record
U.K. consumers' expectations for inflation are rising further and further away from the Bank of England's 2% target, adding to the pressure on the central bank for more interest rate hikes. Expectations for inflation over the next 12 months rose to 4.6% in May. In the last survey in February, the median expectation had only been 4.3%. Moreover, consumers expect inflation to stay higher above target for longer. The median expectation for the following year rose to 3.4% in the previous survey, while the median expectation for the next five years rose to 3.5% from 3.3%.
South Korea June 1-10 exports shrink 12.7%, trade deficit at $6 billion
South Korea's exports for the first 10 days of June shrank 12.7% from the same period a year before, customs agency data showed on Monday. The country's imports grew 17.5%, however, bringing the trade balance to a $6 billion deficit for the period. By product, exports of semiconductors grew 0.8% and petroleum products surged 94.5%, but those of cars, automobile parts and wireless communication devices fell 35.6%, 28.8% and 27.5%, respectively. By destination, shipments to China, the United States and European Union shrank 16.2%, 9.7% and 23.3% each.
Dollar rises as hot U.S. inflation data seen keeping Fed hawkish
The 10-year government bond yield (interpolated) on the previous trading day was 2.92, +0.20 bps. The benchmark government bond yield (LB31DA) was 2.86, +3.00 bps. LB31DA could be between 2.83-2.93. Meantime, the latest closed US 10-year bond yields was 3.15%, +11.00bps. USDTHB on the previous trading day closed around 34.67 Moving in a range from 34.75-34.85 this morning. USDTHB could be closed between 34.70-34.90 today. The yen fell to a fresh 20-year low against the dollar on Monday, as red hot U.S. inflation data drove up Treasury yields, diminishing the earlier boost from speculation Japanese authorities could intervene to support the currency.
