- USDTHB: moving in the range 32.59-32.73 this morning, supportive level at 32.50 resistance level at 32.75
· SET Index: 1,677.3 (-0.67%), 20 Jan 2023
· S&P 500 Index: 3,972.6 (+1.87%), 20 Jan 2023
· Thai 10-year government bond yield (interpolated): 2.44 (+2.79 bps), 20 Jan 2023
· US 10-year treasury yield: 3.48 (+9.00 bps), 20 Jan 2023
- U.S. home sales drop to 12-year low; price growth cools
- U.K. retail sales, consumer confidence slump as cost-of-living squeeze tightens
- South Korean exports fall 2.7% in Jan 1-20 period
- Gold prices eye 9-month high as markets mull over U.S. recession
U.S. home sales drop to 12-year low; price growth cools U.S. existing home sales plunged to a 12-year low in December, but declining mortgage rates raised cautious hope that the embattled housing market could be close to finding a floor. The report from the National Association of Realtors on Friday also showed the median house price increasing at the slowest pace since early in the COVID-19 pandemic as sellers in some parts of the country resorted to offering discounts. The Federal Reserve's fastest interest rate-hiking cycle since the 1980s has pushed housing into recession. Existing home sales, which are counted when a contract is closed, fell 1.5% to a seasonally adjusted annual rate of 4.02 million units last month, the lowest level since November 2010. That marked the 11th straight monthly decline in sales, the longest such stretch since 1999. Sales dropped in the Northeast, South and Midwest. They were unchanged in the West. Economists polled by Reuters had forecast home sales falling to a rate of 3.96 million units.
U.K. retail sales, consumer confidence slump as cost-of-living squeeze tightens Retail sales slumped again in the U.K. in December, while consumer confidence fell to a new low as Britons counted the cost of an expensive holiday season. The Office for National Statistics said retail sales fell 1.0% from November, their fourth drop in five months, leaving them down 5.8% on the year. Stripping out volatile sales of autos and fuel, core retail sales fared even worse, falling 1.1% on the month and 6.1% on the year. The figures confirmed what has already been apparent from U.K. supermarket chains' trading updates, showing that non-food sales suffered particularly badly, as consumers chose to focus their spending on food and drink over the festive period. The ONS said non-food sales fell 2.1% on the month.
South Korean exports fall 2.7% in Jan 1-20 period South Korea's exports for the first 20 days of January fell 2.7% from a year earlier, but the pace of drop was slower than that recorded in December, customsdata showed on Saturday. In December, South Korean exports fell 9.0% on-year during the first 20 days and declined 9.6% for the full month, as global demand cooled after a wave of aggressive policy tightening to contain inflation. For the first 20 days of January, exports to China fell 24.4%, whereas shipments to the United States rose 18.1%, the Korea Customs Service data showed. Imports over Jan. 1-20 rose by 9.3% on-year, bringing South Korea's trade deficit to $10.26 billion over the period. For December, the trade deficit was $4.69 billion.
Gold prices eye 9-month high as markets mull over U.S. recession The 10-year government bond yield (interpolated) on the previous trading day was 2.44, +2.79 bps. The benchmark government bond yield (LB31DA) was 2.46, +1.0 bps. LB31DA could be between 2.30-2.80. Meantime, the latest closed US 10-year bond yields was 3.48, +9.0 bps. USDTHB on the previous trading day closed around 32.83 Moving in a range of 32.59-32.73 this morning. USDTHB could be closed between 32.70-33.95 today. Gold prices rose slightly on Monday, trading close to a nine-month high as markets awaited more U.S. data this week to gauge whether the world’s largest economy was facing a potential recession in 2023. Trading volumes in metal markets were also relatively smaller at the beginning of the week, amid market holidays in several Asian countries, most notably China, for the Lunar New Year. Chinese markets will be closed for the remainder of the week. Focus this week is squarely on U.S. fourth-quarter GDP data, due on Thursday. Growth is expected to have slowed in the fourth quarter from the third, as the effects of tighter monetary policy begin to be felt by the economy. Spot gold rose 0.2% to $1,928.95 an ounce, while gold futures rose 0.1% to $1,930.50 an ounce by 19:32 ET (00:32 GMT). Both instruments were trading close to their highest level since late-April and were less than $100 away from record highs.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
