- USDTHB : moving in the range 35.64-35.74 this morning, supporting level of USDTHB is around 35.67 resistance level is around 35.70
- SET Index: 1,560.3 (-0.79%), 4 Jul 2022
- S&P 500 Index: 3,813.9 (-0.30%), 4 Jul 2022
- Thai 10-year government bond yield (interpolated) : 2.79% (-7.01 bps), 4 Jul 2022
- US 10-year treasury yield: 2.88 (-10.00 bps), 1 Jul 2022
- Eurozone PPI Inflation Eases More Than Expected
- Japan Composite PMI Confirmed at 7-Month Peak
- South Korea Inflation Hits 24-Year High
- Thailand Inflation Rate Highest in Near 14 Years
- Dollar Firms Up on Fed Rate Hike Bets, Gold Muted
Eurozone PPI Inflation Eases More Than Expected Eurozone producer price climbed 36.3 percent year-on-year in May, following a 37.2 percent rise in April. This is slower than the analyst estimation of 36.7 percent. A surge in energy prices of 94.4 percent was largely responsible for overall inflation in May. Excluding energy, producer price inflation rose slightly to 16.0 percent from 15.6 percent. On a monthly basis, producer prices went up 0.7 percent in May, slower than the 1.2 percent rise in the previous month. That was below the expected increase of 1.0 percent.
Japan Composite PMI Confirmed at 7-Month Peak The Bank Japan Composite PMI was at 53.0 in June of 2022, compared a final 52.3 in the prior month. The latest figure marked the sharpest growth in the private sector in seven months, with services activity rising the most in near 9 years. Meanwhile the manufacturing sector seeing the softest rise in the current 4-month sequence of growth. New orders moderated, amid the second successive monthly rise at service providers and a stagnation in demand for manufactured goods. Meantime, employment rose for 17th straight month despite the slowest pace of job creation since February.
South Korea Inflation Hits 24-Year High Consumer prices in South Korea rose 6% yoy in June 2022, following a 5.4% increase in May and being the fastest pace since November 1998, as higher prices of industrial goods, services, agricultural products and utility bills kept adding to inflationary pressure amid increasing raw-material prices. The country’s inflation rate also held above the central bank’s 2% target for the 15th consecutive month, keeping the pressure on the Bank of Korea to tighten policy further to curb price growth. The BOK is expected to raise its policy rate in July by another 50 basis points to arrest rising prices.
Thailand Inflation Rate Highest in Near 14 Years The annual inflation rate in Thailand rose to 7.66% in June 2022 from 7.1% in the prior month. The latest reading was the highest since July 2008 and exceeding market consensus of 7.5%. Core consumer prices rose 2.51% yoy in June, the most since March 2012, after a 2.28% gain in May and also surpassing consensus of 2.37%.
Dollar Firms Up on Fed Rate Hike Bets, Gold Muted The 10-year government bond yield (interpolated) on the previous trading day was 2.79, -7.01 bps. The benchmark government bond yield (LB31DA) was 2.68, -6 bps. LB31DA could be between 2.60-2.70. Meantime, the latest closed US 10-year bond yields was 2.88, -10.00 bps. USDTHB on the previous trading day closed around 35.66 Moving in a range of 35.64-35.74 this morning. USDTHB could be closed between 35.67-35.70 today. The dollar index firmed up above 105 on Tuesday, hovering near its highest levels since December 2002, supported by market bets that the Federal Reserve will continue to aggressively raise interest rates to curb surging inflation. Gold was subdued around $1,810 an ounce on Tuesday, hovering close to its lowest levels in five months, as impending interest rate hikes from major central banks dampened bullion’s appeal.
Sources : ttb analytics , Bloomberg, CNBC, Investing, CEIC
