- USDTHB : moving in the range 36.17-36.33 this morning, supporting level of USDTHB is around 36.15 resistance level is around 36.30
- SET Index: 1,541.8 (+0.03%), 6 Jul 2022
- S&P 500 Index: 3,845.1 (+0.36%), 6 Jul 2022
- Thai 10-year government bond yield (interpolated) : 2.71% (-9.34 bps), 6 Jul 2022
- US 10-year treasury yield: 2.93 (+11.00 bps), 6 Jul 2022
- Fed Says More Restrictive Stance Could be Needed
- US Job Openings Remain Near Record Highs
- US Services PMI Revised Higher
- Stocks in the doldrums as euro founders on recession fears
Fed Says More Restrictive Stance Could be Needed Fed policymakers continued to anticipate that ongoing increases in the fed funds rate would be appropriate and backed a 50 or 75 basis points hike in July, FOMC minutes from the June meeting showed. Officials also noted that the US economic outlook warranted moving to a restrictive stance of policy, and they recognized the possibility that an even more restrictive stance could be appropriate if elevated inflation pressures were to persist. At the same time, they noted that policy firming could slow economic growth for a time, but they saw the return of inflation to 2% as critical to achieving maximum employment on a sustained basis.
US Job Openings Remain Near Record Highs Job opening number in the US was 11.3 million in May of 2022, down slightly from 11.7 million in April. Figures came above market expectations of 11 million and were still above pre-pandemic levels, suggesting demand for workers remained robust. The largest decreases in job openings were in professional and business services (-325,000), durable goods manufacturing (-138,000), and nondurable goods manufacturing (-70,000). Meanwhile, some 4.3 million Americans quit their jobs in May, little changed from the prior month, with the so-called quits rate falling to a four-month low of 2.8% and there were 1.9 job openings for every unemployed person.
US Services PMI Revised Higher The S&P Global US Services PMI was revised higher to 52.7 in June of 2022 from a preliminary of 51.6, and down from 53.4 in May pointing to the weakest rise in activity since January. New orders decrease for the first time in almost two years as sustained price pressures and economic uncertainty hit demand. On the price front, a further substantial rise in input prices was recorded in June, although inflation did ease from May's survey peak. Rising wages played a key role in higher input costs, with increased fuel charges also widely mentioned. Firms often passed on higher costs to customers but came with limitation due to aim in enhancing demand. Finally, business confidence regarding the year ahead outlook dropped to a 21-month low.
Stocks in the doldrums as euro founders on recession fears The 10-year government bond yield (interpolated) on the previous trading day was 2.71, -9.34 bps. The benchmark government bond yield (LB31DA) was 2.62, -8.00 bps. LB31DA could be between 2.55-2.70. Meantime, the latest closed US 10-year bond yields was 2.93, +11.00 bps. USDTHB on the previous trading day closed around 36.02 Moving in a range of 36.17-36.33 this morning. USDTHB could be closed between 36.15-36.30 today. The euro huddled at a two-decade low on Thursday and oil nursed losses as investors fretted about a looming recession, while equities were caught between growth worries and relief that a slowdown might put the brakes on interest rate hikes. MSCI's broadest index of Asia-Pacific shares outside Japan edged up from a two-month low. Japan's Nikkei advanced 0.7%.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
