- USDTHB: moving in the range 34.57-34.69 this morning supportive level at 34.50 resistance level at 34.75
· SET Index: 1,401.4 (+0.57%), 28 Nov 2023
· S&P 500 Index: 4,554.9 (+0.10%), 28 Nov 2023
· Thai 10-year government bond yield (interpolated): 3.03 (-8.38 bps), 28 Nov 2023
· US 10-year treasury yield: 4.34 (-5.00 bps), 28 Nov 2023
- US consumer confidence rebounds, house prices maintain upward trend
- US annual home price growth at 6.1% in September
- Japan's price trend gauge hits record, heightens case for BOJ exit
- US dollar skids to 3-1/2-month low, headed for biggest monthly drop in a year
US consumer confidence rebounds, house prices maintain upward trend US consumer confidence rose in November after three straight monthly declines, with Americans planning big-ticket purchases like motor vehicles and houses over the next six months even as they continued to fret over higher prices and interest rates. The Conference Board said its consumer confidence index increased to 102.0 this month from a downwardly revised 99.1 in October. Economists polled by Reuters had forecast the index dipping to 101.0. The improvement in confidence was concentrated mostly among households aged 55 and up. Consumers in the 35-54 age group were less optimistic about their prospects. The survey's present situation index, based on consumers' assessment of current business and labor market conditions, edged down to 138.2 from 138.6 in October. Its expectations index, based on consumers' short-term outlook for income, business and labor market conditions, rose to 77.8 from 72.7.
US annual home price growth at 6.1% in September US annual home price growth accelerated again in September, underscoring the rebound of the housing market as it entered the final quarter of the year. Home prices rose 6.1% on a year-over-year basis in September, up from an upwardly revised 5.8% increase in the prior month, the Federal Housing Finance Agency (FHFA) said. On a quarterly basis, annual house prices increased 5.5% between the third quarter of last year and the comparative period this year. Home prices rose 2.1% in the third quarter compared to the second quarter of this year, reflecting the reacceleration since June that has taken place following a period of softness in the market. The report also showed prices rose moderately on a month-over-month basis, in line with recent trends. Prices were up 0.6% in September, compared with an upwardly revised 0.7% month-over-month increase in August.
Japan's price trend gauge hits record, heightens case for BOJ exit A key measure of Japan's trend inflation accelerated to 2.2% in October, marking a fresh record high in a sign of broadening price pressure that heightens the case for the central bank to dial back its massive monetary stimulus. The data adds to recent growing signs that prospects of sustained wage increases are prodding firms to hike prices for their services, a trend the central bank sees as a prerequisite for ending ultra-low interest rates. The 2.2% year-on-year increase in the weighted median inflation rate, which is closely watched as an indicator on whether price rises are broadening, followed a 2.0% gain in September. It was the fastest rise since comparable data became available in 2001, Bank of Japan (BOJ) data showed.
US dollar skids to 3-1/2-month low, headed for biggest monthly drop in a year The 10-year government bond yield (interpolated) on the previous trading day was 3.03, -8.38 bps. The benchmark government bond yield (LB31DA) was 3.10, -6.00 bps. Meantime, the latest closed US 10-year bond yields was 4.34, -5.00 bps. USDTHB on the previous trading day closed around 34.94. Moving in a range of 34.57-34.69 this morning. USDTHB could be closed between 34.50-34.75 today. The US dollar sank to its lowest in more than three months on Tuesday as investors continued to take the view that growth in the world's largest economy is starting to slow down, with the market starting to price in a rate cut by the first half of the year. US rate futures were pricing in a 33% chance of a rate cut in March, rising to a roughly 65% probability in May, according to the CME's FedWatch tool. Those odds were at 21% and roughly 50% late on Monday. The dollar extended losses after Fed Governor Christopher Waller, a hawkish policymaker, flagged a possible rate cut in the months ahead. If the decline in inflation continues "for several more months ... three months, four months, five months ... we could start lowering the policy rate just because inflation is lower," he said.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
