- USDTHB: moving in the range 34.39-34.49 this morning, supportive level at 34.30 resistance level at 34.60
· SET Index: 1,668.7 (+0.45%), 30 Dec 2022
· S&P 500 Index: 3,839.5 (-0.25%), 30 Dec 2022
· Thai 10-year government bond yield (interpolated): 2.64 (-0.86 bps), 30 Dec 2022
· US 10-year treasury yield: 3.88 (+5.0 bps), 30 Dec 2022
- Darkest days likely over for euro zone factories, Dec PMIs show
- China Dec factory activity extends declines on COVID surge – Caixin PMI
- Singapore GDP growth slumps in 2022 as trade slowdown weighs
- Asia FX extends new year gains, Japanese yen surges to 7-mth high
Darkest days likely over for euro zone factories, Dec PMIs show The downturn in euro zone manufacturing activity has likely passed its trough as supply chains begin to recover and inflationary pressures ease, a survey showed on Monday, leading to a rebound in optimism among factory managers. S&P Global's final manufacturing Purchasing Managers' Index (PMI) bounced to 47.8 in December from November's 47.1, matching a preliminary reading but still below the 50 mark separating growth from contraction. An index measuring output, which feeds into a composite PMI due on Wednesday and seen as a good gauge of economic health, also came in at 47.8, up from November's 46.0, marking its seventh month of sub-50 readings but its highest since June. The final data was compiled earlier than usual last month due to the holiday season.
China Dec factory activity extends declines on COVID surge – Caixin PMI China’s factory activity shrank at a sharper pace in December as surging COVID-19 infections disrupted production and weighed on demand after Beijing largely removed anti-virus curbs, a private sector survey showed on Tuesday. The Caixin/Markit manufacturing purchasing managers’ index (PMI) fell to 49.0 in December from 49.4 in November. The index has stayed below the 50-point that separates growth from contraction for five straight months. The reading was the lowest since September but beat analysts’ forecast of 48.8 in a Reuters poll. China’s larger official PMI survey on Saturday showed a much sharper decline, with the activity index falling to a near three-year low. The Caixin survey focuses on smaller, export-oriented firms. The figures provide a snapshot of the challenges faced by Chinese manufacturers who now have to contend with surging infections after the country’s abrupt COVID policy U-turn in early December.
Singapore GDP growth slumps in 2022 as trade slowdown weighs Singapore’s economy likely expanded at a substantially slower pace in the fourth quarter of 2022, preliminary data showed on Tuesday, as high inflation and a lull in the country’s major exports took a toll on growth. The island state’s gross domestic product (GDP) grew at an annual rate of 2.2% in the fourth quarter, according to an advance GDP estimate from the Ministry of Trade and Industry. While the reading was slightly better than estimates for growth of 2.1%, it was nearly half of the 4.2% growth seen in the third quarter. On a quarterly basis, the economy grew 0.8% in the fourth quarter, much slower than the 4.6% growth logged in the third quarter. This puts Singapore's overall GDP for 2022 at 3.8% - half of the growth rate seen in the previous year.
Asia FX extends new year gains, Japanese yen surges to 7-mth high The 10-year government bond yield (interpolated) on the previous trading day was 2.64, -0.86 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 3.88, +5.0 bps. USDTHB on the previous trading day closed around 34.55 Moving in a range of 34.39-34.49 this morning. USDTHB could be closed between 34.20-34.70 today. Most Asian currencies rose on Tuesday, extending gains as markets bet on slower interest rate hikes and a weaker dollar this year, with the Japanese yen surging to a six-month high on expectations of tighter monetary policy. The yen jumped 0.7% and was the best-performing currency in Asia, hitting a seven-month high of 129.74 against the dollar. The currency has been on a tear since early-December, when the Bank of Japan unexpectedly struck a more hawkish tone than markets were expecting, which ramped up expectations that it could tighten its ultra-loose policy in 2023. The Japanese central bank is now set to meet on January 18, with markets expecting its interest rates to remain unchanged at record lows. But any further changes to its yield curve control measures will be closely watched.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
