- USDTHB: moving in the range 37.23-37.32 this morning, supportive level at 37.00 resistance level at 37.75
· SET Index: 1,623.6 (-0.17%), 7 Nov 2022
· S&P 500 Index: 3,806.8 (+0.96%), 7 Nov 2022
· Thai 10-year government bond yield (interpolated): 3.13 (-5.50 bps), 7 Nov 2022
· US 10-year treasury yield: 4.22 (+5.0 bps), 7 Nov 2022
- US yields advance as markets brace for inflation data, midterm elections
- German industrial output grows more than expected in September
- Thai headline CPI rises 5.98% y/y in Oct, slightly below forecast
- Japan foreign reserve down for 3rd month after intervention
US yields advance as markets brace for inflation data, midterm elections US Treasury yields rose in choppy trading on Monday after a highly-volatile week, as bond investors turned their focus to the all-important inflation data and the US midterm elections on Tuesday that will determine control of Congress. The past week saw market gyrations amid another big Federal Reserve interest rate increase and a strong US jobs report for October that ensured the Fed will be in no rush to pivot away from its aggressive tightening of monetary policy. In a press briefing last week, Fed Chair Jerome Powell cautioned against prematurely discussing a pause in hiking rates in the face of persistently high inflation. US two-year yields, which are sensitive to rate move expectations, rose nearly 7.2 basis points to 4.7237%. The US consumer price index data for October is due for release on Thursday, with investors awaiting the report for further clues on when the Fed could slow the pace of rate hikes.
German industrial output grows more than expected in September German industrial production grew in September, official data showed on Monday, despite a fall in the energy-intensive industrial branches and ongoing delivery bottlenecks. Industrial output was up 0.6% on the previous month, the Federal Statistical Office said. In a Reuters poll, analysts had pointed to a 0.2% increase. By contrast, production in energy-intensive industrial branches fell by 0.9% in September. For August, the office revised its figure to -1.2% from a previous -0.8%.
Thai headline CPI rises 5.98% y/y in Oct, slightly below forecast Thailand’s headline consumer price index (CPI) rose 5.98% in October from a year earlier, official data showed on Monday, slightly lower than forecast and the slowest pace in six months. The rise follows September’s 6.41% increase and was just shy of the 6.0% forecast in a Reuters poll. It was the lowest since April’s 4.65%. The core CPI index, which strips out energy and fresh food prices, was up 3.17% in October from a year ago, versus a forecast rise of 3.20%, the commerce ministry said. Inflation in November would slow due to lower consumer goods prices while other prices remained stable despite increasing costs, helped by government measures to ease the cost of living, the ministry said in a statement.
Japan foreign reserve down for 3rd month after intervention The 10-year government bond yield (interpolated) on the previous trading day was 3.13, -5.50 bps. The benchmark government bond yield (LB31DA) was 3.03, -2.0 bps. LB31DA could be between 3.00-3.10. Meantime, the latest closed US 10-year bond yields was 4.22, +5.0 bps. USDTHB on the previous trading day closed around 37.41 Moving in a range of 37.23-37.32 this morning. USDTHB could be closed between 37.10-37.60 today. Japan's foreign reserves extended declines in October, following the previous month's record drop, the Ministry of Finance said on Tuesday, reflecting the largest ever amount of yen-buying, dollar selling intervention. The data comes alongside separate figures that confirmed Japan did not conduct stealth intervention in September and only entered the market to buy yen for dollars on Sept. 22, its first foray into the market since 1998. Japan's foreign reserves fell for a third straight month to$1.19 trillion at the end of October, still the world's second-largest after China.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
