- USDTHB: moving in the range 37.385-37.53 this morning, supportive level at 37.30 resistance level at 37.60
· SET Index: 1,578.0 (+1.27%), 4 Oct 2022
· S&P 500 Index: 3,790.9 (+3.01%), 4 Oct 2022
· Thai 10-year government bond yield (interpolated): 3.13 (-7.62 bps), 4 Oct 2022
· US 10-year treasury yield: 3.62 (-5.00 bps), 4 Oct 2022
- World Bank sees weak growth in 2023 for eastern Europe, central Asia
- Japan’s tourism restart stirs hope of service-sector recovery –PMI
- Thai headline CPI rises 6.41% y/y in Sept, less than forecast
- Oil climbs ahead of OPEC+ talks on supply cut
World Bank sees weak growth in 2023 for eastern Europe, central Asia The World Bank said that countries in eastern Europe and Central Asia will return to weak growth in 2023 but warned that a cut-off of Russian energy to the European Union would tip them into recession next year. In updated economic forecasts, the World Bank said collective GDP in its Europe and Central Asia region was now expected to contract 0.2% in 2022 and grow by 0.3% in 2023 due to spillover effects from Russia's invasion of Ukraine. The 2022 forecast is a marked improvement over the World Bank's June forecast of a 2.9%% GDP contraction for the region that includes Ukraine, Poland, Russia, Turkey and surrounding countries. It reflects better-than-expected resilience and growth in some of the region's largest economies, along with extensions of pandemic-era stimulus programs in some countries.
Japan’s tourism restart stirs hope of service-sector recovery –PMI Japan’s services sector activity growth posted a small expansion in September as demand recovered on declining COVID-19 cases and the prospect of easing restrictions on foreign tourism boosted hopes of a stronger economic revival. Prime Minister Fumio Kishida this week pledged to raise inbound tourism spending to more than 5 trillion yen ($34.52 billion) a year, hoping to benefit from windfalls brought by the yen’s recent fall to a 24-year low against the dollar. The final au Jibun Bank Japan Services purchasing managers’ index (PMI) rose to a seasonally adjusted 52.2, returning to growth after posting a contraction of 49.5 in August. The figure was largely in line with a 51.9 flash reading for September unveiled last month. The 50-mark separates expansion from contraction.
Thai headline CPI rises 6.41% y/y in Sept, less than forecast Thailand's headline consumer price index (CPI) rose 6.41% in September from a year earlier, commerce ministry data showed on Wednesday. The reading compared with a forecast for a 6.60% rise in September in a Reuters poll and followed August's 7.86% increase. The core CPI index was up 3.12% in September from a year ago, versus a forecast rise of 3.20%.
Oil climbs ahead of OPEC+ talks on supply cut The 10-year government bond yield (interpolated) on the previous trading day was 3.13, -7.62 bps. The benchmark government bond yield (LB31DA) was 3.00, -6.0 bps. LB31DA could be between 2.90-3.10. Meantime, the latest closed US 10-year bond yields was 3.62, -5.00 bps. USDTHB on the previous trading day closed around 37.73 Moving in a range of 37.385-37.53 this morning. USDTHB could be closed between 37.50-37.75 today. Oil prices inched up on Wednesday extending 3% gains in the previous session ahead of a meeting of OPEC+ producers to discuss a big output cut in what energy executives and analysts see as a tightly supplied market. The Organization of the Petroleum Exporting Countries and allies led by Russia, together called OPEC+, meeting in Vienna later on Wednesday, are discussing output cuts as big as 2 million barrels per day (bpd). That would be the group's biggest production cut since demand was smashed by COVID-19 in 2020.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
