- USDTHB: moving in the range 36.31-36.48 this morning, supporting level of USDTHB is around 36.30 resistance level is around 36.48
- SET Index: 1,626.5 (-1.12%), 29 Aug 2022
- S&P 500 Index: 4,030.6 (-0.67%), 29 Aug 2022
- Thai 10-year government bond yield (interpolated): 2.60 (+6.30 bps), 29 Aug 2022
- US 10-year treasury yield: 3.12 (+8.00 bps), 29 Aug 2022
· ECB’s member showing as hawkish as Fed at Jackson Hole
· U.S. consumer sentiment improves further in August
· Australia’s retail sales jumped strongest in four months
· Sell-off sentiment continues, surging U.S. Treasury yields reflect mounting rate fears
ECB’s member showing as hawkish as Fed at Jackson
Hole
According to speaking at Fed’s annual Jackson Hole Economic
Symposium, ECB board member Isabel Schnabel, French Central Bank chief Francois
Villeroy de Galhau and Latvian central bank Governor Martins Kazaks, all argued
for forceful or significant policy action. US and Europe faced the likelihood
and the cost of current high inflation becoming entrenched in expectations are
uncomfortably high. “In this environment, central banks need to act
forcefully”. However, the ECB raised rates by 50 bps. zero last month and the
markets expect a similar (50 bps.) or even bigger move (75 bps.) on Sept 8,
partly on sky-high inflation.
U.S. consumer sentiment improves further in August The University of Michigan's final reading on the overall consumer sentiment index, came in at 58.2 in August, up from 55.1 earlier this month and 51.5 in July. The survey's one-year inflation expectations fell to an eight-month low of 4.8% from 5.2% in July, while the survey's five-year inflation outlook was unchanged at 2.9%, holding within the range that has prevailed for the past year. Overall, consumers’ views on their personal finances improved about 7%, primarily due to a reduction in the share of consumers citing inflation’s harmful effects on their living standards, down from 49% last month to 44%. Likewise, fewer consumers spontaneously mentioned gas prices or food prices at any point in the survey this month. The share of consumers who mentioned hearing negative news about inflation fell from 37% last month to 29% in August. Still, all these measures remained elevated relative to last year, reflecting the continued effects of inflation on consumer attitudes.
Australia’s retail sales jumped strongest in four months The Australian Bureau of Statistics reported that retail sales in July rose by 1.3%mom to a fresh record level of AUD 34.67 billion, exceeding market estimates of 0.3%. The latest result marked the strongest pace in retail trade since March, despite cost-of-living pressures. Department stores had the largest rise, up 3.8%, followed by clothing, footwear, and personal accessory retailing, cafes, restaurants, and takeaway food services, other retailing, and food retailing. By contrast, household goods retailing fell for the third time in four months, down 1.1%.
Sell-off sentiment continues, surging U.S. Treasury yields reflect mounting rate fears The 10-year government bond yield (interpolated) on the previous trading day was 2.60, +6.30 bps. The benchmark government bond yield (LB31DA) was 2.39, +5.0 bps. LB31DA could be between 2.35-2.45. Meantime, the latest closed US 10-year bond yields was 3.12, +8.00 bps. USDTHB on the previous trading day closed around 36.48 Moving in a range of 36.31-36.48 this morning. USDTHB could be closed between 36.30-36.60 today. Monday’s stock moves coincided with the yield on the 2-year Treasury note notching a fresh 15-year high as rate hike fears persisted. The Dow fell over 3%, as well as S&P 500 and Nasdaq Composite fell 3.4% and 3.9%, respectively, their worst days since June. The drop erased August’s gains for all three averages. The Nikkei 225 also slipped 2.66% and the Topix index declined 1.79%. South Korea’s Kospi fell 2.18% and the Kosdaq index dropped 2.81% yesterday.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
