- USDTHB: moving in the range 35.63-35.77 this morning, supporting level of USDTHB is around 35.65 resistance level is around 35.80
- SET Index: 1,636.1 (-0.22%), 18 Aug 2022
- S&P 500 Index: 4,283.7 (+0.23%), 18 Aug 2022
- Thai 10-year government bond yield (interpolated): 2.46 (+3.18 bps), 18 Aug 2022
- US 10-year treasury yield: 2.88 (-1.00 bps), 18 Aug 2022
- US Existing home sales at 2 years low
- Euro Area Construction Growth Slows to 6-Month Low
- Japan Inflation Rate Highest in Near 8 Years
- Recession fears grip commodity markets
US Existing home sales at 2 years low Existing home sales in the US declined 5.9% to 4.81 million in July of 2022, the lowest since May of 2020 and below market expectations of 4.89 million. Sales declined for a sixth consecutive month, reflecting the impact of the mortgage rate peak of 6% in early June. The median existing-home price for all housing types was $403,800, up 10.8% from July 2021, and total housing inventory increased 4.8% to 1,310,000 units. Single-family home sales declined 5.5% to 4.31 million and co-ops were down 9.1% to 500,000 units.
Euro Area Construction Growth Slows to 6-Month Low
Construction output in the Euro Area edged up 0.1 percent
year-on-year in June of 2022, easing from a downwardly revised 2.3 percent rise
in the previous month. It was the softest pace of growth in construction
activity since a contraction of 1% since in December of 2021. Building
construction increased 0.1 percent, slowing from a 2.2 percent advance in May;
and civil engineering works declined 0.2 percent, down from a 2.7 percent gain.
On a monthly basis, construction output fell 1.3 percent, following a 0.3
percent decrease in May.
Japan Inflation Rate Highest in Near 8 Years
The annual inflation rate in Japan rose to 2.6% in July 2022
from 2.4% in June. This was the 11th straight month of increase in consumer
prices and the fastest pace since April 2014, amid surging fuel and food cost
following Russia's invasion of Ukraine as well as a sharply weakening yen. Main
upward pressure primarily came from cost of food 4.4% from 3.7% in June, as
well as fuel, light and water charges 14.7%, slowing from 14.0% last month. On
the flip side, cost continued to fall for both transport -0.2%, slightly
improving from -0.7% in June and medical care -0.8% from -0.7% last period.
Core consumer prices were at 2.4% yoy, the highest since December 2014, after a
2.2% rise in June. On a monthly basis, consumer prices went up 0.5%, the most since
January 2021, after being flat in June.
Recession fears grip commodity markets The 10-year government bond yield (interpolated) on the previous trading day was 2.46, +3.18 bps. The benchmark government bond yield (LB31DA) was 2.40, +6.0 bps. LB31DA could be between 2.33-2.43. Meantime, the latest closed US 10-year bond yields was 2.88, -1.00 bps. USDTHB on the previous trading day closed around 35.59 Moving in a range of 35.63-35.77 this morning. USDTHB could be closed between 35.65-35.80 today. Brent crude futures held above $96 per barrel on Friday but were set to end the week modestly lower, as concerns about a global economic slowdown and potential supply boosts from major producers. Recession fears continued to grip commodity markets, with the US Federal Reserve intent on raising interest rates further to bring inflation much lower.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
