- USDTHB: moving in the range 37.40-37.47 this morning, supportive level at 37.30 resistance level at 37.60
· SET Index: 1,589.2 (+0.56), 6 Oct 2022
· S&P 500 Index: 3,744.5 (-1.03%), 6 Oct 2022
· Thai 10-year government bond yield (interpolated): 3.10 (+1.87 bps), 6 Oct 2022
· US 10-year treasury yield: 3.83 (+7.00 bps), 6 Oct 2022
- US initial jobless claims rose to 219,000 last week
- Euro zone retail sales fall as expected in August
- Japan Aug household spending rises annually on reopening
- Asian stocks retreat on global recession angst; dollar firm
US initial jobless claims rose to 219,000 last week The number of people claiming unemployment benefits in the US lurched up last week, threatening to break a three-month trend of falling claims that had created an impression of exceptional labor market strength. Initial jobless claims rose by 29,000 from a downwardly revised 190,000 to hit 219,000, their highest in five weeks. Continuing claims also rose for the first time in five weeks, to 1.361 million from 1.346 million. Challenger's data are consistent with anecdotal reports of layoffs across the retail and technology sectors over a summer in which many companies have been forced to retrench, having been caught out by a surge in inflation that that has hit demand for their products and services.
Euro zone retail sales fall as expected in August Euro zone retail sales fell in August, data showed on Thursday, pointing to a weakness in consumer demand and underlining expectations of an approaching recession. The European Union's statistics office Eurostat said retail sales in the 19 countries sharing the euro fell 0.3% month-on-month for a 2.0% year-on-year drop. Economists polled by Reuters had expected a 0.4% monthly fall and a 1.7% year-on-year decline. The fall in retail sales, seen as a proxy for consumer demand, underlines economists' expectations that the euro zone is likely to go in to a recession in the coming quarters, hit by the energy price shock created by the Russian invasion of Ukraine.
Japan Aug household spending rises annually on reopening Japanese households increased spending in August compared with a year earlier as the economy continued to recover from COVID-19 restrictions, but rising prices are clouding the outlook for further gains. Separate data on Friday showed real wages falling for a fifth month, underscoring growing pressure on Japanese consumer spending, which accounts for more than half of the country’s gross domestic product (GDP). Household spending rose 5.1% in August from a year earlier, government data showed on Friday. The reading was lower than economists’ median estimate for a 6.7% gain and followed a 3.4% rise in July. While there are clear signs that activity is slowly picking up, gains in August have been flattered by the comparison with August 2021, when the government ramped up state of emergency restrictions to battle a resurgence of COVID cases.
Asian stocks retreat on global recession angst; dollar firm The 10-year government bond yield (interpolated) on the previous trading day was 3.10, +1.87 bps. The benchmark government bond yield (LB31DA) was 2.97, -1.0 bps. LB31DA could be between 2.95-3.05. Meantime, the latest closed US 10-year bond yields was 3.83, +7.00 bps. USDTHB on the previous trading day closed around 37.25 Moving in a range of 37.40-37.47 this morning. USDTHB could be closed between 37.35-37.50 today. Asian stocks declined on Friday, extending a global equity slide to a third day, as investors fretted over recession risks amid signs of further aggressive central bank policy tightening. The dollar and Treasury yields remained elevated after multiple Federal Reserve officials continued to talk up additional rate hikes ahead of a crucial U.S. jobs report later in the day, while rising crude oil prices compounded concerns about prolonged inflation.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
