- USDTHB: moving in the range 35.82-35.92 this morning, supportive level at 35.70 resistance level at 36.10
· SET Index: 1,637.3 (+1.11%), 11 Nov 2022
· S&P 500 Index: 3,992.9 (+0.92%), 11 Nov 2022
· Thai 10-year government bond yield (interpolated): 2.84 (-17.66 bps), 11 Nov 2022
· US 10-year treasury yield: 3.82 (-30.0 bps), 10 Nov 2022
- US consumer sentiment slumps; inflation expectations edge up
- UK economy shrinks at start of feared long recession
- Hong Kong's economy shrinks for third straight quarter, outlook dims
- Dollar extends fall after inflation data knock
US consumer sentiment slumps; inflation expectations edge up US consumer sentiment slumped in November amid persistent worries about inflation and higher interest rates, according to a survey on Friday, which also hinted at a sharp slowdown in spending on goods. The University of Michigan's preliminary November reading on the overall index on consumer sentiment came in at 54.7, down from 59.9 in the prior month. The 8.7% decline, which erased about half of the gains since the index's tumble to a historic low in June, also came as gasoline prices pushed higher. Economists polled by Reuters had forecast a preliminary reading of 59.5. The survey's reading of one-year inflation expectations edged up to 5.1% from 5.0% in October. The survey's five-year inflation outlook rose to 3.0% from 2.9% in October.
UK economy shrinks at start of feared long recession Britain’s economy shrank in the three months to September at the start of what is likely to be a lengthy recession, underscoring the challenge for finance minister Jeremy Hunt as he prepares to raise taxes and cut spending next week. Economic output shrank by 0.2% in the third quarter, less than the 0.5% contraction analysts had forecast in a Reuters poll, Friday’s official data showed. But it was the first fall in gross domestic product since the start of 2021, when Britain was still under tight coronavirus restrictions, as households and businesses struggle with a severe cost-of-living crisis. Britain’s economy is now further below its pre-pandemic size – it is the only Group of Seven economy yet to recover fully from the COVID slump – and is smaller than it was three years ago on a calendar-quarter basis.
Hong Kong's economy shrinks for third straight quarter, outlook dims Hong Kong's economy contracted 4.5% in the third quarter from a year earlier, advance government data showed on Friday, weighed down by rising global interest rates and a slump in trade. It was the third consecutive quarter of year-on-year contraction for the Asian financial hub's gross domestic product (GDP) and marked the worst contraction since the second quarter of 2020. The decline widened from 1.3% in the second quarter. The government also revised down its full-year growth forecast to minus 3.2%, from between 0.5% and minus 0.5%, citing a deteriorating global growth outlook.
Dollar extends fall after
inflation data knock The 10-year government bond
yield (interpolated) on the previous trading day was 2.84, -17.66 bps. The
benchmark government bond yield (LB31DA) was 2.90, -15.0 bps. LB31DA could be
between 2.85-3.10. Meantime, the latest closed US 10-year bond yields was 3.82,
-30.0 bps. USDTHB on the previous trading day closed around 36.00 Moving in a
range of 35.82-35.92 this morning. USDTHB could be closed between 35.80-36.40
today. The dollar fell across the board for a second straight day on Friday, as
investors favored riskier currencies following signs U.S. inflation is cooling
that boosted the case for the Federal Reserve to ease off its hefty interest
rate hikes. Friday's dollar weakness was an extension of the move set off after
Thursday's data showed U.S. consumer inflation rose 7.7%
year-on-year in October, its slowest rate since January and below forecasts for
8%. Against a basket of currencies, the dollar was down about 3.8% over two
sessions, on pace for its largest two-day percentage loss since March 2009.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
