- USDTHB: moving in the range 36.28-36.37 this morning, supportive level at 36.00 resistance level at 36.50
- SET Index: 1,640.0 (+0.00%), 8 Sep 2022
- S&P 500 Index: 4,006.2 (+2.48%), 8 Sep 2022
- Thai 10-year government bond yield (interpolated): 2.77 (-5.13 bps), 8 Sep 2022
- US 10-year treasury yield: 3.29 (+2.00 bps), 8 Sep 2022
· Powell says Fed "strongly committed" to inflation fight
· ECB raises rates by unprecedented 75 basis points
· U.K. PM Truss Announces Plan to Freeze Household Energy Bills for 2 Years
· Asia shares edge higher as dollar eases
Powell says Fed "strongly committed" to inflation fight Powell's comments in a telecast discussion hosted by the Cato Institute briefly lifted U.S. Treasury yields and supported the dollar. He said the Fed would act "forthrightly, strongly" in its bid to bring down consumer prices. "The longer inflation remains above (the Fed's 2%) target, the greater the risk that the public does begin to see higher inflation as the norm, and that has the capacity to really raise the cost of getting inflation down," Powell said. "History strongly cautions against prematurely loosening policy.
ECB raises rates by unprecedented 75 basis points The European Central Bank (ECB) raised interest rates by an unprecedented 75 basis points on Thursday to tame runaway inflation, despite increasing risks of recession as the bloc has lost access to vital Russian natural gas. The ECB lifted its deposit rate to 0.75% from zero and raised the main refinancing rate to 1.25%, their highest levels since 2011 with moves promised for the next several meetings, as inflation is becoming increasingly broad and was at risk of getting entrenched. When asked about future moves, Lagarde said 75 basis points is not the norm and future moves could be smaller but she also declined to rule out a similarly large move in the future
U.K. PM Truss Announces Plan to Freeze Household Energy Bills for 2 Years New Prime Minister Liz Truss told the House of Commons on Thursday that she intends to set the maximum dual-fuel bill for a typical family home at 2,500 pounds ($2,880) a year for two years, starting in October. However, Truss avoided giving much detail about how the plan will be financed, a key worry that has weighed on sterling and on U.K. government bond markets in the last month. However, she did again repeat her objection to a windfall tax on energy companies, meaning that oil majors Shell and look unlikely to be raided for cash.
Asia shares edge higher as dollar eases The 10-year government bond yield (interpolated) on the previous trading day was 2.77, -5.13 bps. The benchmark government bond yield (LB31DA) was 2.67, -7.0 bps. LB31DA could be between 2.62-2.72. Meantime, the latest closed US 10-year bond yields was 3.29, +2.00 bps. USDTHB on the previous trading day closed around 36.45 Moving in a range of 36.28-36.37 this morning. USDTHB could be closed between 36.25-36.50 today. Asian shares moved higher as the dollar eased, with markets turning calmer after a record interest rate hike from the European Central Bank and hawkish comments from the U.S. Federal Reserve Chair reinforced bets of aggressive tightening ahead. MSCI's broadest index of Asia-Pacific shares outside Japan stretched out a gain of 0.3% early on Friday. Japan's Nikkei rose 0.3%, Chinese blue chips were up 0.2%, while Hong Kong's Hang Seng Index advanced 0.4%. Overnight, Wall Street's main indexes posted modest gains after heavy selling earlier in the week. S&P 500 futures rose 0.3% and Nasdaq futures was up 0.5%, in a sign of improved risk appetite as markets stabilized.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
