- USDTHB: moving in the range 36.01-36.20 this morning, supporting level of USDTHB is around 36.10 resistance level is around 36.20
- SET Index: 1,633.6 (+1.09%), 23 Aug 2022
- S&P 500 Index: 4,128.7 (-0.22%), 23 Aug 2022
- Thai 10-year government bond yield (interpolated): 2.60 (-1.86 bps), 23 Aug 2022
- US 10-year treasury yield: 3.05 (+2.00 bps), 23 Aug 2022
- US New Home Sales Lowest since 2016
- US Factory Growth Lowest in 2 Years: S&P Global PMI
- UK Manufacturing Activity unexpectedly Contracts and Factory Output falls
- Hawkish Fed comments knock stocks, help dollar
US New Home Sales Lowest since 2016 New home sales tumbled 12.6% to 511,000 units, the lowest level since January 2016 and well below the forecast, amid rising borrowing costs, prices and a fall in demand. June's sales pace was revised down to 585,000 units. Sales fell in the Midwest region (-20.6%), the West (-13.3%), and the South (-12.1%) but rose in the Northeast (13.3%). Despite slowing demand, house price growth remains strong. The median new house price in July was $439,400, an 8.2% jump from a year ago. While that was a deceleration from the double-digit growth seen early in the year, average house prices jumped 18.3% year-on-year in July.
US Factory Growth Lowest in 2 Years: S&P Global PMI The S&P Global Flash US Manufacturing PMI fell to 51.3 in August of 2022 from 52.2 in July, below forecasts of 52, and pointing to the lowest growth in factory activity since July of 2020, amid muted demand conditions and production cutbacks. Output contracted for the second successive month. Higher input prices also served to dampen customer demand, as some firms stated that clients were monitoring inventories and essential spending more closely. New export orders fell solidly as inflationary pressures in key export markets weighed on demand.
UK Manufacturing Activity unexpectedly Contracts and Factory Output falls The Manufacturing PMI for the UK fell to 46 in August of 2022 from 52.1 in July, pointing to the first contraction in factory activity since May of 2020, and surprising markets that expected a reading of 51.1. Reduced customer demand, the delayed delivery of inputs and labour shortages all weighed on performance. New business fell the most since May of 2020, as increased economic uncertainty and high costs had weighed on market confidence and sales. The Confederation of British Industry's order book balance fell to -7 in the three months to August of 2022 from 8 in July. The reading pointed to the first decline in industrial output since April of 2021, with no growth expected in the three months ahead. Export orders remained subdued (-12 vs -12), domestic price expectations increased (57 vs 48) and output expectations declined (-2 vs 6).
Hawkish Fed comments knock stocks, help dollar The 10-year government bond yield (interpolated) on the previous trading day was 2.60, -1.86 bps. The benchmark government bond yield (LB31DA) was 2.47, -3.0 bps. LB31DA could be between 2.40-2.53. Meantime, the latest closed US 10-year bond yields was 3.05, +2.00 bps. USDTHB on the previous trading day closed around 36.23 Moving in a range of 36.01-36.20 this morning. USDTHB could be closed between 36.10-36.20 today. Asian stock markets slipped for an eighth straight session on Wednesday, and the dollar loomed large as fresh hawkish comments from a Federal Reserve official kept investors cautious ahead of this week's Jackson Hole symposium. MSCI's index of Asian shares outside Japan fell 0.2% in morning trade, on track for the index's eight successive daily drop, if sustained. Japan's Nikkei fell 0.6%. Wall Street steadied overnight after two days of heavy losses, as soft U.S. data tempered rate-hike worries.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
