- USDTHB: moving in the range 34.20-34.40 this morning
· SET Index: 1,597.1 (+0.25%), 11 April 2023
· S&P 500 Index: 4,108.9 (-0.00%), 11 April 2023
· Thai 10-year government bond yield (interpolated): 2.48 (+0.32 bps), 11 April 2023
· US 10-year treasury yield: 3.43 (+2.00 bps), 11 April 2023
- Yellen says vigilant to downside economic risks, but don't 'overdo the negativism’
- Euro zone investor morale improves in April
- Japan March wholesale inflation slows for 3rd straight month
- Gold pushes further past $2,000 as Fed’s Kashkari flags recession
Yellen says vigilant to downside economic risks, but don't 'overdo the negativism’ U.S. Treasury Secretary Janet Yellen on Tuesday said she remained vigilant to downside risks facing the global economy, given Russia's ongoing war against Ukraine and banking pressures, but the overall outlook was "reasonably bright.“ Yellen, speaking at a news conference, pushed back against warnings by the International Monetary Fund of bigger risks associated with severe financial tensions. "I wouldn't overdo the negativism about the global economy," Yellen said, when asked about a slightly trimmed IMF global growth forecast for 2023 which warned that a flare-up of financial system turmoil could slash output to near recessionary levels. "I think we should be more positive. "Yellen said she had not seen evidence suggesting a squeeze in credit after two U.S. bank failures last month, although that was a possibility.
Euro zone investor morale improves in April Investor morale in the euro zone improved in April after a surprise dip in March, in a resumption of improvements of recent months as the assessment of current conditions rose to the highest level in more than a year, a survey showed on Tuesday. Sentix’s index for the euro zone rose to -8.7 points for April from -11.1 in March, beating forecasts. Analysts polled by Reuters had expected the index to rise/fall to -9.9 in April. While an index on the current situation rose for the sixth month in a row in April, to -4.3 from -9.3, the fact that it remained in negative territory indicates the economy is, at best, in a stagnation phase, the survey showed. An expectations index, on the other hand, held steady at -13.0.
Japan March wholesale inflation slows for 3rd straight month Japan's wholesale prices rose 7.2% in March from a year earlier, with the pace of increase slowing for the third straight month, data showed on Wednesday, offering some relief to households and firms hit by a steady rise in raw material costs. The gain in the corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, was roughly in line with a median market forecast for a 7.1% gain. It followed a revised 8.3% increase in February. Rising global commodity and fuel costs have pushed Japan's wholesale and consumer inflation to multi-decade highs, heightening market expectations the Bank of Japan (BOJ) may soon phase out its massive stimulus program.
Gold pushes further past $2,000 as Fed’s Kashkari flags recession The 10-year government bond yield (interpolated) on the previous trading day was 2.48, +0.32 bps. The benchmark government bond yield (LB31DA) was 2.49, -1.00 bps. LB31DA could be between 2.20-2.70 Meantime, the latest closed US 10-year bond yields was 3.43, +2.00 bps. USDTHB on the previous trading day closed around 34.32 Moving in a range of 34.20-34.40 this morning. USDTHB could be closed between 34.00-34.50 today. Gold prices rose past key levels on Wednesday, boosted by safe haven buying after Minneapolis Federal Reserve President Neel Kashkari flagged a potential recession this year, with focus also turning to more U.S. economic cues due later in the day. Kashkari said that rising interest rates and a slowdown in lending after the collapse of several U.S. banks could trigger a potential recession this year. But he also opined that allowing inflation to stay high would likely be worse. His comments come ahead of consumer price index inflation data that is likely to have eased further in March. But core inflation, which excludes food and energy prices, is expected to remain stubbornly high, which could push up broader price pressures. The Fed has vowed to keep hiking interest rates to curb high inflation. The minutes of the central bank’s latest meeting , also due on Wednesday, are expected to shed more light on this notion.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
