- USDTHB: moving in the range 38.28-38.39 this morning, supportive level at 38.20 resistance level at 38.50
· SET Index: 1,592.7 (+0.25%), 20 Oct 2022
· S&P 500 Index: 3,665.8 (-0.80%), 20 Oct 2022
· Thai 10-year government bond yield (interpolated): 3.32 (+2.37 bps), 20 Oct 2022
· US 10-year treasury yield: 4.24 (+10.0 bps), 20 Oct 2022
- US weekly jobless claims fall
- Liz Truss resigns as UK Prime Minister after less than two months
- German producer prices rise more than expected in September
- Oil slips on recession fears, eyes positive week as supply tightens
US weekly jobless claims fall The number of Americans filing new claims for unemployment benefits fell unexpectedly last week, indicating the labor market remains tight even as demand for labor is cooling amid higher interest rates. Initial claims for state unemployment benefits fell to a seasonally adjusted 214,000 for the week ended Oct. 15. Data for the prior week was revised to show 2,000 fewer applications filed than previously reported. Economists polled by Reuters had forecast 230,000 applications for the latest week. The labor market has been largely resilient, though some cracks are emerging as the Federal Reserve ramps up its monetary policy tightening campaign. The U.S. central bank has hiked its policy rate from near-zero at the beginning of this year to the current range of 3.00% to 3.25%, and officials have signaled more large increases were on the way this year with inflation showing little sign yet of a substantial retreat.
Liz Truss resigns as UK Prime Minister after less than two months Liz Truss has resigned as Prime Minister of the U.K., less than two months after taking power. Her departure ends a chaotic chapter which started with the ousting of Boris Johnson as Prime Minister in the summer and culminated in financial market chaos that quickly forced Truss to abandon her signature economic policies. However, Truss’s exit does nothing to end a period of increasing instability in British politics that began six years ago with the country’s decision to leave the European Union, a move that has so far failed to deliver any material improvements in U.K. economic performance and has caused immediate damage to its trading relationship with its neighbors.
German producer prices rise more than expected in September German producer prices rose more than expected in September, maintaining the previous month's record pace as energy prices soared. Producer prices of industrial products rose 45.8% on the same month last year, the Federal Statistical Office reported, compared with economists' expectations for the rate of increase to ease to 44.7%. Compared to August 2022, prices rose 2.3%, which was also above consensus for 1.3%.
Oil slips on recession fears, eyes positive week as supply tightens The 10-year government bond yield (interpolated) on the previous trading day was 3.32, +2.37 bps. The benchmark government bond yield (LB31DA) was 3.27, +4.5 bps. LB31DA could be between 3.10-3.40. Meantime, the latest closed US 10-year bond yields was 4.24, +10.0 bps. USDTHB on the previous trading day closed around 38.31 Moving in a range of 38.28-38.39 this morning. USDTHB could be closed between 38.20-38.50 today. Oil prices fell on Friday after a warning on economic growth from the Federal Reserve but were still set to end the week higher on positive signals from China and on the prospect of tightening supply in the coming months. Crude prices fell sharply from intraday highs on Thursday, settling only slightly higher after Philadelphia Fed President Patrick Harker said the central bank is actively trying to slow the economy, in order to combat rising inflation. His comments came as a confirmation of sorts that the U.S. is likely to see a recession due to rising interest rates, which could dent crude demand.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
