- USDTHB: moving in the range 35.18-35.28 this morning supportive level at 35.15 resistance level at 35.35
· SET Index: 1,383.5 (+0.23%), 4 Dec 2023
· S&P 500 Index: 4,567.2 (-0.06%), 4 Dec 2023
· Thai 10-year government bond yield (interpolated): 2.97 (-1.16 bps), 4 Dec 2023
· US 10-year treasury yield: 4.18 (-10.00 bps), 4 Dec 2023
- US job openings fall to 8.733 million in October
- Euro zone producer prices inch up in Nov, matching expectations
- Fall in euro zone Nov business activity adds to recession expectations
- US dollar index hits two-week high amid positive economic data
US job openings fall to 8.733 million in October US job openings dropped in October, pointing to a possible easing in labor demand that could bolster the case for the Federal Reserve to start backing away from a long-standing campaign of interest rate hikes. The Job Openings and Labor Turnover Survey, or JOLTS report, showed that the number of available roles dipped to 8.733 million as of the final business day of the month, decreasing from a downwardly revised mark of 9.350 million at the end of September. Economists had called for a reading of 9.300 million. A decline in openings in the health care, finance and real estate sectors offset an uptick in positions in information services, according to the numbers from the Labor Department. Layoffs came in at 1.6 million, little changed from the prior month. Meanwhile, the ratio of job openings per unemployed American dipped to 1.3, inching closer to the pre-pandemic level of 1.2.
Euro zone producer prices inch up in Nov, matching expectations Euro zone producer prices inched higher as expected in October compared with September as a rise in energy prices offset slight declines in a range of goods, while the decline from a year earlier eased. The European Union's statistics office Eurostat said that prices at factory gates in the 20 countries sharing the euro were 0.2% higher month-on-month in October, but down 9.4% down against a year earlier. The average expectations of economists were respectively for a 0.2% increase and a 9.5% drop. The figures compared with a 0.5% monthly increase in September and a 12.4% year-on-year decline. Compared with September, energy prices in October rose by 1.0% and durable consumer goods by 0.1%. Prices of capital goods, such as machinery and tools, were unchanged.
Fall in euro zone Nov business activity adds to recession expectations The downturn in euro zone business activity eased last month but still indicates the bloc's economy will contract again this quarter as the dominant services industry continues to struggle to generate demand, a survey showed. Last quarter the economy contracted 0.1%, according to official data, and Tuesday's Composite Purchasing Managers' Index (PMI) for November indicated the 20-country currency union is on track to do so again this quarter, meeting the technical definition of recession. HCOB's composite PMI, compiled by S&P Global and seen as a good guide of overall economic health, rose to 47.6 from October's near three-year low of 46.5 and coming in above a 47.1 preliminary estimate. That was its best reading since July but remained firmly below the 50 mark separating growth from contraction. A PMI for the services sector rose to 48.7 from October's 47.8.
US dollar index hits two-week high amid positive economic data The 10-year government bond yield (interpolated) on the previous trading day was 2.97, -1.16 bps. The benchmark government bond yield (LB31DA) was 2.965, -1.16 bps. Meantime, the latest closed US 10-year bond yields was 4.18, -10.00 bps. USDTHB on the previous trading day closed around 34.90 Moving in a range of 35.18-35.28 this morning. USDTHB could be closed between 35.15-35.35 today. The US Dollar Index continued its upward trajectory today, reaching a two-week peak around the 104.00 mark, bolstered by a series of positive economic indicators. The American currency's rise comes amidst a broader trend of strength for the greenback. Key economic data released today highlighted a mixed picture of the US economy. The JOLTS Job Openings saw a significant drop to 8.73 million in October, suggesting a cooling job market. However, the ISM Services PMI provided a more optimistic view, outstripping forecasts with a rise to 52.7, indicating continued expansion in the service sector. The performance of the US dollar has had notable effects on various currency pairs. The EUR/USD pair dipped below the critical threshold of 1.0800 after a continuous five-day decline.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
