- USDTHB: moving in the range 33.95-34.08 this morning, supportive level at 33.95 resistance level at 34.25
· SET Index: 1,663.9 (-0.01%), 5 Jan 2023
· S&P 500 Index: 3,808.1 (-1.17%), 5 Jan 2023
· Thai 10-year government bond yield (interpolated): 2.56 (-1.49 bps), 5 Jan 2023
· US 10-year treasury yield: 3.71 (+2.00 bps), 5 Jan 2023
- US Mortgage Rates Climb for Second Straight Week, Hitting 6.48%
- Japan Dec service-sector activity rebounded on tourist boom
- Thai headline CPI meets forecast in Dec, seen slowing in 2023
- Dollar edges higher after Fed minutes; weekly jobless claims to come
US Mortgage Rates Climb for Second Straight Week, Hitting 6.48% The average for a 30-year, fixed loan was 6.48%, up from 6.42% last week and the highest since early December, Freddie Mac said in a statement Thursday. Seesawing loan costs aren’t likely to inspire confidence in would-be homebuyers, who have been pulling away from the market for months. With demand in a slump, sellers also are holding back, reluctant to accept discounts or to give up cheap mortgages they locked in before the Federal Reserve started hiking its benchmark interest rate last year. With inflation still running hotter than the central bank would like, policymakers last month affirmed their commitment to monetary tightening and signaled that rates will probably stay elevated for some time, according to meeting minutes released Wednesday.
Japan Dec service-sector activity rebounded on tourist boom Japan’s service sector activity rebounded in December thanks to a boom in international and domestic tourism as COVID curbs were relaxed, a business survey showed on Friday. The final au Jibun Bank Japan Services purchasing managers’ index (PMI) rose to a seasonally adjusted 51.1 from November’s 50.3, although it came in lower than the flash reading of 51.7 for December. The index stayed above the 50-mark that separates expansion from contraction for a fourth consecutive month. The recovery was supported by an increasing number of international tourists as well as a discount campaign for domestic travelers, according to Laura Denman, economist at S&P Global Market Intelligence, which compiled the survey. Service firms’ demand from overseas increased at the strongest pace since July 2018, the survey showed.
Thai headline CPI meets forecast in Dec, seen slowing in 2023 Thailand's headline consumer price index (CPI) rose 5.89% in December from a year earlier, in line with analyst forecasts, but above the previous month driven by higher energy and food prices, government data showed on Thursday. The index compared with a forecast for a 5.9% rise in December in a Reuters poll and followed November's 5.55% increase. The pace remains well above the central bank's target range of 1% to 3%, reinforcing expectations that the central bank will raise its key interest rate at its next meeting on Jan. 25, to bring prices back within target. The core CPI index was up 3.23% in December from a year ago, the ministry said, versus a forecast rise of 3.28%, For 2022, headline CPI increased 6.08%, a 24-year high, while the core CPI index rose 2.51%. Headline inflation is expected to slow to 2% to 3% in 2023, helped by a high base and a global slowdown.
Dollar edges higher after Fed minutes; weekly jobless claims to come The 10-year government bond yield (interpolated) on the previous trading day was 2.56, -1.49 bps. The benchmark government bond yield (LB31DA) was 2.645, -0.5 bps. LB31DA could be between 2.50-3.00. Meantime, the latest closed US 10-year bond yields was 3.71, -2.0 bps. USDTHB on the previous trading day closed around 33.88 Moving in a range of 33.95-34.08 this morning. USDTHB could be closed between 33.80-34.20 today. The U.S. dollar edged higher Thursday, gaining some support from the generally hawkish tone of the minutes of the Federal Reserve’s December meeting. The Dollar Index, which tracks the greenback against a basket of six other currencies, rose 0.1% to 104.095. The minutes of the Fed's latest policy meeting, released late Wednesday, indicated agreement that the central bank should slow the pace of aggressive interest rate increases, but the policymakers were still keen to emphasize their focus on combating inflation. The Fed members said they favored a "restrictive policy stance for a sustained period," until inflation was on a sustained downward path to 2%, and that was likely to take "some time.“
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
