- USDTHB : moving in the range 35.40 – 35.50 this morning, supporting level of USDTHB is around 35.30 resistance level is around 35.50
- SET Index: 1,568.8 (+0.71%), 24 Jun 2022
- S&P 500 Index: 3,911.7 (+3.01%), 24 Jun 2022
- Thai 10-year government bond yield (interpolated) : 2.91% (-0.65bps), 24 Jun 2022
- US 10-year treasury yield: 3.13 (+4.00bps), 24 Jun 2022
- U.S. new home sales rebound in May; consumer sentiment at record low
- German business sentiment clouds over but no sign of recession
- U.K. Retail Sales Fall by 0.5% in May due to rising prices
- U.S. dollar retreats as markets re-assess Fed rate path
U.S. new home sales rebound in May; consumer sentiment at record low
Sales of new U.S. single-family homes unexpectedly rose in May, but the rebound is likely to be temporary as home prices continue to increase and the average contract rate on a 30-year fixed-rate mortgage approaches 6%, reducing affordability. New home sales jumped 10.7% to a seasonally adjusted annual rate of 696,000 units last month. Survey from the University of Michigan on Friday confirmed consumer confidence plunged to a record low in June while consumers' inflation expectations moderated a bit. The University of Michigan said its final consumer sentiment index fell to 50.0 from a preliminary reading of 50.2 earlier this month. It was down from 55.2 in May.
German business sentiment clouds over but no sign of recession
German business morale fell more than expected in June but a recession was not yet in sight despite rising energy prices and the threat of gas shortages, a survey showed on Friday. The Ifo institute said its business climax index dropped to 92.3 following a reading of 93.0 in May, when the closely watched indicator posted a surprise recovery despite the economic impact of the Russia-Ukraine war.
U.K. Retail Sales Fall by 0.5% in May due to rising prices
U.K. retail sales volumes dropped by 0.5% in May, reversing course from a rise of 0.4% in the previous month, according to data from the Office for National Statistics. The decline was mainly due to slowing food store sales, which fell by 1.6% during the month, a sign that inflation concerns may be taking a bite out of consumer demand. The data comes as worries are growing in the U.K. that rising prices may lead to a wider cost of living crisis. Britain's inflation rate hit a fresh 40-year high of 9.1% in May, and the Bank of England has predicted that that figure could climb above 11% later this year.
U.S. dollar retreats as markets re-assess Fed rate path
The 10-year government bond yield (interpolated) on the previous trading day was 2.91, -0.65 bps. The benchmark government bond yield (LB31DA) was 2.84, +0.00 bps. LB31DA could be between 2.78-2.88. Meantime, the latest closed US 10-year bond yields was 3.13%, +4.00bps. USDTHB on the previous trading day closed around 35.54 Moving in a range from 34.40-35.50 this morning. USDTHB could be closed between 35.30-35.55 today. The U.S. dollar slipped on Friday and posted its first weekly decline this month, as traders pared back bets on where interest rates may peak and brought forward their outlook on the timing of rate cuts to counter a possible recession.
Sources : ttb analytics , Bloomberg, CNBC, Investing, CEIC
