· USDTHB: moving in the range 36.95-36.985 this morning, supportive level at 36.76 resistance level at 37.00
· SET Index: 1,642.3 (-0.86%), 15 Sep 2022
· S&P 500 Index: 3,901.4 (-1.14%), 15 Sep 2022
· Thai 10-year government bond yield (interpolated): 2.88 (+5.71 bps), 15 Sep 2022
· US 10-year treasury yield: 3.45 (+4.00 bps), 15 Sep 2022
- US retail sales unexpectedly rise, but inflation hampering spending
- UK public inflation expectations at record high for coming year
- China central bank pauses monetary easing, partially rolls policy loan, keeps rate unchanged
- Oil prices head for third week of losses as recession fears bite
US retail sales unexpectedly rise, but inflation hampering spending
U.S. retail sales unexpectedly rebounded in August as Americans ramped up purchases of motor vehicles and dined out more amid lower gasoline prices, but demand is cooling as the Federal Reserve aggressively raises interest rates to fight inflation. Consumer spending, however, is likely to remain supported by persistent strength in the labor market, with other data on Thursday showing the number of people filing new claims for unemployment benefits last week fell to the lowest level in more than three months. Retail sales increased 0.3% last month, also lifted by back-to-school shopping. But data for July was revised down to show retail sales falling 0.4% instead of being unchanged as previously reported.
UK public inflation expectations at record high for coming year UK public's expectations for inflation over the coming year rose to a record high last month, although longer-term expectations eased from previous multi-year highs. Public satisfaction with the central bank's control of inflation also fell to its lowest since the survey started in 1999.The BoE survey took place from Aug. 5-8, the data showed consumer price inflation hit a 40-year high of 10.1% in July and steps by new Prime Minister Liz Truss to cap household energy bills. Expectations for inflation "over the coming year" rose to a record 4.9% form 4.6% in the last survey in May, but those for "the twelve months after that" dropped to 3.2% from 3.4%, which had been the highest since 2013.
China central bank pauses monetary easing, partially rolls policy loan, keeps rate unchanged The PBOC partially rolled over maturing medium-term policy loans while maintaining the interest rate as expected, as hawkish U.S. Federal Reserve tightening limited room to maneuver monetary policy to support the economy. The pause in monetary easing came as the yuan bears increasing downside pressure after the People's Bank of China (PBOC) surprised markets in August by lowering key rates, a move that further widened policy divergence with other major economies that are raising rates aggressively. The PBOC said it was keeping the rate on 400-billion-yuan ($57.46 billion) worth of one-year medium-term lending facility (MLF) loans to some financial institutions unchanged at 2.75% from the previous operation.
Oil prices head for third week of losses as recession fears bite
The 10-year government bond
yield (interpolated) on the previous trading day was 2.88, +5.71 bps. The
benchmark government bond yield (LB31DA) was 2.68, +4.0 bps. LB31DA could be
between 2.65-2.75. Meantime, the latest closed US 10-year bond yields was 3.45,
+4.00 bps. USDTHB on the previous trading day closed around 36.71 Moving in a
range of 36.95-36.985 this morning. USDTHB could be closed between 36.98-37.20
today. Oil prices inched up on but were headed for a third straight week of
losses on fears that COVID disruptions in China and a potential economic
recession will decimate crude demand this year. The prevention of a possible US
railroad strike, which was expected to disrupt local crude supply, also dented
prices this week. London-traded Brent oil futures rose 0.2% to $91.06 a barrel,
while U.S. West Texas Intermediate futures rose 0.2% to $85.25 a barrel by
22:45 ET (02:45 GMT). Both contracts tumbled around 4% on Thursday, and were
set to lose nearly 2% for the week- their third week in red.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
