- USDTHB: moving in the range 35.61-35.725 this morning supportive level at 35.50 resistance level at 35.80
· SET Index: 1,381.0 (+0.16%), 8 Dec 2023
· S&P 500 Index: 4,622.4 (+0.39%), 11 Dec 2023
· Thai 10-year government bond yield (interpolated): 2.87 (-0.90 bps), 8 Dec 2023
· US 10-year treasury yield: 4.23 (+0.00 bps), 11 Dec 2023
- US non-farm payrolls rise more than expected in November
- German inflation eases to 2.3% in November
- Japan's inflation-adjusted wages decline for 19th month in October
- India keeps repo rate steady at 6.5% amid robust economic growth
- Dollar firms amid forward outlook on the week ahead
US non-farm payrolls rise more than expected in November The U.S. Bureau of Labor Statistics reported that total nonfarm
payroll employment increased by 199,000 in November, comparing to the market
expectation of the number of jobs added to come in marginally lower at 190,000.
Moreover, the unemployment rate edged down to 3.7%, which 0.2% below the
anticipated rate, the number of unemployed persons showed little change at 6.3
million. Employment growth is below the average monthly gain of 240,000 over
the prior 12 months but is in line with job growth in recent months. In
November, job gains occurred in health care and government. Employment also
increased in manufacturing, reflecting the return of workers from a strike.
Employment in retail trade declined.
German inflation eases to 2.3% in November Germany's annual consumer inflation was at 3.2% in November, the lowest rate since June 2021. The figure was down from 3.8% in October with a slowdown in food inflation and a further fall in energy prices. Energy product prices in November dropped 4.5% from a year ago due to a base effect, accelerating a decline of 3.2% in October. The cost of food rose 5.5% in November, at nearly a two-year low, slowing further from October's 6.1% rise. On the other hand, core inflation cooled to 3.8%, the lowest since August 2022.
Japan's inflation-adjusted wages decline for 19th month in October According to Ministry of Health, Labour and Welfare data, Japan's real wages declined for a 19th consecutive month in October, which fell 2.3% in October from a year earlier, after a revised 2.9% decline in September. At the same time, nominal pay growth in October was 1.5%, the highest since June, after a downward revision to 0.6% in September. The results partly reflect an increase in special payments, which went up 7.5% in October after a revised 8.6% drop in the previous month.
India keeps repo rate steady at 6.5% amid robust economic growth The Reserve Bank of India (RBI) decided to keep the policy rate unchanged at 6.5% for the fifth time in a row as it maintains a tight vigil on inflation, maintained its policy stance of withdrawal of accommodation to ensure inflation progressively aligns with the committee's target while remaining supportive of economic growth. So far, the RBI had raised the repo rate by a total 250 basis points (bps) since May 2022 in efforts to cool surging inflation, which dropped to a four-month low of 4.87% in October but is expected to remain above the RBI's 4% medium-term target for some time. Moreover, the RBI expects the economy to expand 7% in the current fiscal year from 6.5% after stronger than expected growth in the July-September quarter.
Dollar firms amid forward outlook on the week ahead The 10-year government bond yield (interpolated) on the previous trading day was 2.87, -0.90 bps. The benchmark government bond yield (LB336A) was 2.85, -1.00 bps. Meantime, the latest closed US 10-year bond yields was 4.23, +0.00 bps. USDTHB on the previous trading day closed around 35.32 Moving in a range of 35.61-35.725 this morning. USDTHB could be closed between 35.50-35.80 today. US Dollar (DXY) strengthens and rallies amid courtesy of impactful and high-risk events on the economic calendar, including US inflation data, UK GDP figures, and significant monetary policy announcements from the FOMC (Dec12-13), the Bank of England (BOE) (Dec14) and the European Central Bank (ECB) (Dec14).
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
