- USDTHB: moving in the range 35.25-35.51 this morning, supporting level of USDTHB is around 35.45 resistance level is around 35.50
- SET Index: 1,622.3 (+0.31%), 11 Aug 2022
- S&P 500 Index: 4,280.2 (+1.72%), 12 Aug 2022
- Thai 10-year government bond yield (interpolated): 2.42 (-5.41 bps), 11 Aug 2022
- US 10-year treasury yield: 2.84 (-3.00 bps), 12 Aug 2022
- Germany Wholesale Prices Decelerated
- UK GDP Annual Growth Rate Lowest in a Year
- Japan GDP Growth Annualized Below Forecasts
- China Cuts 2 Key Rates for 1st Time in 7 Months
- European Stocks to Open Mixed As Weak China Data Weighs
Germany Wholesale Prices Decelerated Wholesale prices in Germany increased by 19.5% year-on-year in July of 2022, after a 21.2% gain in the previous month. The biggest upward impact came from cost of solid fuels (92.9%), followed by wholesale trade of mineral oil products (53.8%); grain, unmanufactured tobacco, seeds etc. (33.4%) and metals and metal ores (14.9%). Compared with the previous month, wholesale prices fell 0.4% in July, reversing from a 0.1% rise in June.
UK GDP Annual Growth Rate Lowest in a Year The British economy expanded 2.9% year-on-year in the second quarter of 2022, the least since a contraction in the first quarter of 2021, and slightly above market forecasts of a 2.8% growth. Household spending slowed sharply 3.6% from 12.6% in Q1, as high consumer prices weigh while gross fixed capital formation remained robust 5.9% compared to 7.1% in Q1, namely business investment 5%.
Japan GDP Growth Annualized Below Forecasts The Japanese economy grew by 2.2 percent on an annualized basis in Q2 of 2022, the third straight quarter of expansion and compared with market estimates of a 2.5% growth. It followed a revised 0.1% rise in Q1 when surging COVID-19 cases hurt spending while some reports said that the latest GDP figure has reached the level that was before the pandemic started spreading globally. There was an acceleration in both private consumption and government spending while capital expenditures bounced back sharply. Also, public investment grew after falling in the previous fifth quarter. Net exports contributed positively to the GDP, as exports increased while imports fell.
China Cuts 2 Key Rates for 1st Time in 7 Months The People's Bank of China (PBoC) unexpectedly cut a key policy interest rate for the first time since January in an attempt to revive credit demand to support the COVID-hit economy. The central bank lowered the rate on CNY 400 billion of one-year medium-term lending facility (MLF) loans to some financial institutions by 10 bps to 2.75% from 2.85% previously. With CNY 600 billion of MLF loans maturing on Monday, the operation resulted a net CNY 200 billion fresh fund withdrawal from the banking system. PBoC also injected CNY 2 billion through seven-day reverse repos while cutting the borrowing cost by the same margin of 10 bps to 2.0% from 2.1% previously, according to an online statement.
European Stocks to Open Mixed As Weak China Data Weighs The 10-year government bond yield (interpolated) on the previous trading day was 2.42, -5.41 bps. The benchmark government bond yield (LB31DA) was 2.36, -2.0 bps. LB31DA could be between 2.31-2.40. Meantime, the latest closed US 10-year bond yields was 2.84, -3.00 bps. USDTHB on the previous trading day closed around 35.31 Moving in a range of 35.25-35.51 this morning. USDTHB could be closed between 35.45-35.50 today. Stock futures in Europe were mixed on Monday, with investors digesting fresh economic data from China, showing it slowed in July and is struggling to recover from the covid curbs hit.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
