- USDTHB: moving in the range 34.59-34.65 this morning, supportive level at 34.50 resistance level at 34.75
· SET Index: 1,626.8 (+0.57%), 26 Dec 2022
· S&P 500 Index: 3,844.8 (+0.59%), 23 Dec 2022
· Thai 10-year government bond yield (interpolated): 2.66 (-0.27
bps), 26 Dec 2022
· US 10-year treasury yield: 3.75 (+8.0 bps), 23 Dec 2022
- U.S. new home sales increase again in November
- Japan retail sales up for 9th month led by tourism help
- China Jan-Nov industrial profit data shows deepening slump
- Dollar retreats as risk appetite improves; Australia, NZ currencies rise
U.S. new home sales increase again in November Sales of new U.S. single-family homes rose for a second straight month in November likely as Americans took advantage of a retreat in mortgage rates and incentives from desperate builders, but the overall housing market remains depressed. New home sales increased 5.8% to a seasonally adjusted annual rate of 640,000 units last month, the Commerce Department said on Friday. October's sales pace was revised lower to 605,000 units from the previously reported 632,000. Sales surged in the Midwest and West but fell in the Northeast and the densely populated South. Economists polled by Reuters had forecast new home sales, which account for a small share of U.S. home sales, slipping to a rate of 600,000 units in November. Sales fell 15.3% year on year.
Japan retail sales up for 9th month led by tourism help Japanese retail sales rose for a ninth straight month in November, data showed on Tuesday, as the lifting of COVID-19 border controls and the government's domestic travel subsidy helped consumer demand. But from the previous month, sales fell from October, with price increases in daily necessities weighing on Japanese households as the nation's core consumer inflation rate hit a fresh 40-year high, indicating price hikes were broadening. A recovery in private consumption, which makes up more than half of Japan's economy, is key to driving growth in the economy, which unexpectedly shrank in the third quarter. Retail sales grew 2.6% from the year earlier but short of a median forecast of 3.7%. The pace of annual growth in sales, a barometer of private consumption, slowed from 4.4% in October and 4.8% in September.
China Jan-Nov industrial profit data shows deepening slump Profits at China's industrial firms contracted further in the January-November period, when strict COVID 19-related restrictions disrupted factory activity and supply chains as the virus spread through key manufacturing hubs. Industrial profits fell 3.6% in January-November from a year earlier to 7.7 trillion yuan ($1.11 trillion), according to data released by the National Bureau of Statistics (NBS) on Tuesday. That compares with a 3.0% drop for January-October. The downbeat data reflects the toll that anti-virus curbs in many cities last month, including major manufacturing hubs Guangzhou and Zhengzhou, took on the world's second-largest economy, adding to damage from a protracted property crisis and slowing exports. Last month, industrial output rose only 2.2% from a year earlier, missing expectations for a 3.6% gain in a Reuters poll and slowing significantly from the 5.0% growth seen in October.
Dollar retreats as risk appetite improves; Australia, NZ currencies rise The 10-year government bond yield (interpolated) on the previous trading day was 2.66, -0.27 bps. The benchmark government bond yield (LB31DA) was 2.33, +2.34 bps. LB31DA could be between 2.20-2.70. Meantime, the latest closed US 10-year bond yields was 3.75, +8.0 bps. USDTHB on the previous trading day closed around 34.80 Moving in a range of 34.59-34.65 this morning. USDTHB could be closed between 34.50-35.00 today. The dollar moved broadly lower on Tuesday while Australia and New Zealand's currencies jumped as risk appetite grew after China said it will scrap its COVID quarantine rule for inbound travelers - a major step towards easing curbs on its borders. The New Zealand dollar surged 0.65% to $0.63115 while the Aussie gained 0.25% to $0.67485 in mostly thin trading amid the year-end holiday season. The two currencies are often used as liquid proxies for China's yuan. China will stop requiring inbound travelers to go into quarantine on arrival starting Jan. 8, the National Health Commission said on Monday, even as COVID cases spike. At the same time, Beijing downgraded the regulations for managing COVID cases to the less strict Category B from the top-level Category A.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
