- USDTHB: moving in the range 34.30-34.50 this morning
· SET Index: 1,529.7 (+0.00%), 13 April 2023
· S&P 500 Index: 4,137.6 (-0.21%), 14 April 2023
· Thai 10-year government bond yield (interpolated): 2.49 (+0.54 bps), 12 April 2023
· US 10-year treasury yield: 3.52 (+7.00 bps), 14 April 2023
- US consumer sentiment edges up in April; short-term inflation expectations rise
- China March new home prices rise at fastest pace in 21 months
- Singapore economy slows more than expected in Q1
- Oil prices dip as dollar firms, Chinese data deluge in focus
US consumer sentiment edges up in April; short-term inflation expectations rise U.S. consumer sentiment inched up in April, but households expected inflation to rise over the next 12 months. The University of Michigan's preliminary April reading on the overall index of consumer sentiment came in at 63.5, up from 62.0 in the prior month. Economists polled by Reuters had forecast a preliminary reading of 62.0. "Rising sentiment for lower-income consumers was offset by declines among those with higher incomes," said Surveys of Consumers Director Joanne Hsu. "While consumers have noted the easing of inflation among durable goods and cars, they still expect high inflation to persist, at least in the short run.“ The survey's reading of one-year inflation expectations rose to 4.6% from 3.6% in March. Its five-year inflation outlook was unchanged at 2.9% for the fifth straight month and has stayed within the narrow 2.9-3.1% range for 20 of the last 21 months.
China March new home prices rise at fastest pace in 21 months China’s new home prices rose in March at the fastest pace in 21 months, official data showed on Saturday, suggesting the market is out of the doldrums amid a flurry of support policies, but there is uncertainty on the strength of the momentum. New home prices in March edged up 0.5% month-on-month after a 0.3% rise in February, marking the fastest pace since June 2021 and the third consecutive monthly rise, according to Reuters calculations based on National Bureau of Statistics (NBS) data. Prices in annual terms showed the smallest drop since June 2022, down 0.8% in March after a 1.2% decline in February, the 11th month of declines on an annual basis.
Singapore economy slows more than expected in Q1 Singapore’s economy shrank more than expected in the first quarter of 2023, marking a sluggish start to the year as a slowdown in the country’s key manufacturing sector deepened, while other facets of the economy also saw slowing growth. Singapore’s first quarter GDP rose 0.1% on an annual basis, lower than expectations for a rise of 0.6%, and much lower than 2022’s growth of 2.1%, preliminary data from the Department of Statistics showed on Friday. On a quarterly basis, GDP shrank 0.7%, more than expectations for a decline of 0.2%. The reading was largely driven by a pronounced slowdown in the manufacturing sector, which shrank 6% on an annual basis, and marked its second straight quarter in the red.
Oil prices dip as dollar firms, Chinese data deluge in focus The 10-year government bond yield (interpolated) on the previous trading day was 2.49, +0.54 bps. The benchmark government bond yield (LB31DA) was 2.48, +2.00 bps. LB31DA could be between 2.20-2.70 Meantime, the latest closed US 10-year bond yields was 3.52, +7.00 bps. USDTHB on the previous trading day closed around 34.24 Moving in a range of 34.30-34.50 this morning. USDTHB could be closed between 34.00-34.50 today. Oil prices fell slightly in early Asian trade on Monday as hawkish comments from Federal Reserve officials on rising interest rates pushed up the dollar, with focus now turning to a raft of Chinese economic readings this week for more cues on a recovery in demand. A reading on China’s first-quarter GDP is due on Tuesday and is expected to show that growth bounced back after the lifting of anti-COVID restrictions earlier this year. Separate readings on industrial production and retail sales are also due this week, as is a decision on lending rates by the People's Bank. This week's data is expected to largely factor into expectations that a recovery in China will drive oil demand to record highs this year- a notion that was reiterated by the International Energy Agency (IEA) on Friday.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
