- USDTHB : moving in the range 35.30 – 35.38 this morning, supporting level of USDTHB is around 35.32 resistance level is around 35.45
- SET Index: 1,559.2 (-0.01%), 20 Jun 2022
- S&P 500 Index: 3,674.8 (+0.22%), 17 Jun 2022
- Thai 10-year government bond yield (interpolated) : 2.99% (-5.61bps), 20 Jun 2022
- US 10-year treasury yield: 3.25 (-3.00bps), 17 Jun 2022
- Yellen says gasoline tax holiday worth considering as anti-inflation tool
- German Producer Inflation Hits Record for 6th Month
- RBA Reaffirms More Hikes Ahead: June Minutes
- Dow futures surge more than 400 points, 10-year Bund yield rose
Yellen says gasoline tax holiday worth considering as anti-inflation tool U.S. Treasury Secretary Janet Yellen said on Monday that a gasoline tax holiday should be considered to address inflation, even if it is "not perfect" and may not result in all the reduction passed on to consumers. Yellen said that, according to the research, there was likely a higher pass-through rate for cutting higher state fuel taxes than the generally lower federal taxes of 18.4 cents a gallon for gasoline and 24.4 cents for diesel. The levels are unchanged since 1993. High fuel prices have been a substantial burden on American households. A fuel tax holiday, even not perfect, but it should be taken under consideration" to address inflation.
German Producer Inflation Hits Record for 6th Month Annual producer inflation in Germany surged to 33.6% in May of 2022, breaking a new record peak for a 6th straight month and higher than 33.5% in April and market forecasts of 33.5%. The figures reflect the effects of the Ukraine war, with energy prices remaining the biggest upward contributor, namely distribution of natural gas (148.1%), electricity (90.4%) and mineral oil products (55.8%). Excluding energy, producer prices climbed 16.5% from a year earlier. Other significant price increases were seen for intermediate goods , particularly metals (38.1%), fertilizers and nitrogen compounds (110.9 %) and wooden containers (67.4%); non-durable consumer goods, such as food (19.2%); durable consumer goods; and capital goods.
RBA Reaffirms More Hikes Ahead: June Minutes The Reserve Bank of Australia flagged more rate hikes over the months ahead amid current inflation pressures and the still very low level of interest rates in the country, the minutes of the central bank's June meeting showed. The size and timing of future interest rate increases will continue to be guided by the incoming data and the board's assessment of the outlook for inflation and the labor market, including the risks to the outlook. The committee reiterated its commitment to doing what is necessary to ensure that inflation returns to the target over time. Meantime, Governor Philip Lowe said in a speech that Australia's inflation to peak at around 7% by the end of the year as pandemic-related supply chain disruptions resolve.
Dow futures surge more than 400 points, 10-year Bund yield rose The 10-year government bond yield (interpolated) on the previous trading day was 2.99, -5.61 bps. The benchmark government bond yield (LB31DA) was 2.89, -6.00 bps. LB31DA could be between 2.80-2.95. Meantime, the latest closed US 10-year bond yields was 3.25, -3.00 bps. USDTHB on the previous trading day closed around 35.28 Moving in a range from 35.30-35.38 this morning. USDTHB could be closed between 35.32-35.45 today. Stock futures rose in overnight trading Monday following a brutal week as investors assessed a more aggressive Federal Reserve and rising chances of a recession. The German 10-year Bund yield rose to above 1.7%, the highest since 2014 after ECB President Lagarde reaffirmed plans to hike rates twice this summer.
