- USDTHB: moving in the range 35.33-35.43 this morning, supporting level of USDTHB is around 35.39 resistance level is around 35.45
- SET Index: 1,630.0 (+0.29%), 16 Aug 2022
- S&P 500 Index: 4,305.2 (+0.19%), 16 Aug 2022
- Thai 10-year government bond yield (interpolated): 2.43 (-0.31 bps), 16 Aug 2022
- US 10-year treasury yield: 2.82 (+3.00 bps), 16 Aug 2022
- New Zealand Delivers Another 50Bps Rate Hike
- US Industrial Output Growth Beats Estimates
- Euro Area Posts Another Trade Gap in June
- Asian stocks solid as expectation for further Fed’s rate hike
New Zealand Delivers Another 50Bps Rate Hike The Reserve Bank of New Zealand raised its official cash rate (OCR) by 50 bps to a level not seen in 7 years of 3.0% during its August meeting, the fourth half-point rate hike, in line with market consensus. While expecting some easing of the inflation rate in the near term due to falling fuel prices and stabilization in shipping costs, the RBNZ highlighted that the inflation level would only return to the board's target range by the middle of 2024 and that more monetary tightening is needed with a peak at 4.1% in March 2023. The demand in the economy has been resilient over H1 2022, but the output was being constrained by the disrupted global supply, labor shortages, and high levels of sickness from COVID-19 and other illnesses. Home prices have continued to fall towards more sustainable levels and would decline further over the coming months.
US Industrial Output Growth Beats Estimates Industrial production in the United States rose 0.6% from a month earlier in July of 2022, surpassing market expectations of a 0.3% increase and edging higher from the revised stagnation in June. Manufacturing output rose by 0.7%, rebounding from the 0.4% decrease in the previous month with durable and non-durable manufacturing rising by 1.3% and 0.1%, respectively. Within manufacturing of durable goods, motor vehicles production gained 6.6%. Meanwhile about non-durable manufacturing, higher output was focused on apparel and leather, and chemicals.
Euro Area Posts Another Trade Gap in June The Euro Area (EURO) recorded a trade deficit of EUR 24.6 billion in June of 2022, marking the eighth consecutive gap, above market estimates of a EUR 20 billion deficit and swinging from a surplus of EUR 17.3 billion in the corresponding month of the previous year. Imports surged by 43.5 percent to EUR 276.8 billion, largely due to surging energy costs, while exports rose at a slower 20.1 percent to EUR 210 billion. Meantime, The European Union (EU) posted a trade gap of EUR 200.7 billion in the first half of the year, compared to the surplus of EUR 83.2 billion from the corresponding period of the previous year. The trade deficit widened sharply from Russia, EUR 90.6 billion, and China, EUR 189.5 billion.
Asian stocks solid as expectation for further Fed’s rate hike The 10-year government bond yield (interpolated) on the previous trading day was 2.43, -0.31 bps. The benchmark government bond yield (LB31DA) was 2.35, 0 bps. LB31DA could be between 2.30-2.38. Meantime, the latest closed US 10-year bond yields was 2.82, +3.00 bps. USDTHB on the previous trading day closed around 35.41 Moving in a range of 35.33-35.43 this morning. USDTHB could be closed between 35.39-35.45 today. Asian shares tracked solid Wall Street performance on Wednesday as strong overnight earnings for U.S. retail giants pointed to further scope for the Federal Reserve to tackle inflation with rate hikes. However, investors remain cautious about the size of Federal Reserve’s further interest rate raising to bring down inflation. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.02%. Stocks of crude oil in the United States decreased by 0.448 million barrels in the week ended August 12, 2022.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
