- USDTHB: moving in the range 36.72-36.76 this morning supportive level at 36.60 resistance level at 36.90
· SET Index: 1,316.1 (-0.19%), 11 June 2024
· S&P 500 Index: 5,375.3 (+0.53%), 11 June 2024
· Thai 10-year government bond yield (interpolated): 2.78 (-0.73 bps), 11 June 2024
· US 10-year treasury yield: 4.39 (-8.00 bps), 11 June 2024
- NY Fed survey finds mixed views on future path of inflation in May
- Rise in UK jobless rate muddies Sunak's message to voters
- Japan May wholesale inflation accelerates more than expected
- Dollar hits four-week high ahead of US inflation report
NY Fed survey finds mixed views on future path of inflation in May The US public’s outlook on the future path of inflation was mixed in May, according to a report on Monday from the Federal Reserve Bank of New York. The bank found that as part of its monthly survey on the state of consumer expectations that the public believes inflation a year from now will be 3.2% compared with April’s expectation of 3.3%, while three years from now expected inflation held steady at 2.8%. Five years from now survey respondents see inflation at 3% from April’s projected 2.8%. The survey also found that the expected rise in home prices held steady at 3.3% last month, while the year-ahead expected rise for gasoline prices was flat at 4.8%. Also unchanged relative to the prior month was an expected 5.3% rise in food prices and a 9.1% increase in rent. Future medical care costs were expected to be higher relative to the April reading.
Rise in UK jobless rate muddies Sunak's message to voters Britain's labour market showed more signs of cooling in April as the unemployment rate rose, an awkward development for Prime Minister Rishi Sunak ahead of the July 4 election, despite another month of robust wage growth. The jobless rate for the three months to April rose to 4.4% from 4.3% between January and March, the highest reading since the three months to September 2021, the Office for National Statistics said on Tuesday. Economists polled by Reuters had forecast no change in the rate. The number of employed people has fallen by 207,000 since the end of 2023, while unemployment has increased by 190,000, the data showed. Sterling fell after the data and government bond prices rose.
Japan May wholesale inflation accelerates more than expected Japan's wholesale prices in May rose 2.4% from a year earlier, marking the fastest annual increase in nine months, central bank data showed on Wednesday. The rise in the corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, exceeded a median market forecast for a 2.0% gain. It accelerated sharply from a 1.1% gain in April. The yen-based import goods price index rose 6.9% in May from a year earlier, accelerating from a 6.6% gain in April, a sign the yen's declines were pushing up the cost of raw material imports.
Dollar hits four-week high ahead of US inflation report The 10-year government bond yield (interpolated) on the previous trading day was 2.78, -0.73 bps. The benchmark government bond yield (LB31DA) was 2.78, -1.00 bps. Meantime, the latest closed US 10-year bond yields was 4.39, -8.00 bps. USDTHB on the previous trading day closed around 36.76. Moving in a range of 36.72-36.76 this morning. USDTHB could be closed between 36.60-36.90 today. The dollar hit a four-week high on Tuesday, ahead of a highly anticipated inflation report that is likely to influence the timing of the first rate cut by the US Federal Reserve, while the euro was pressured by political uncertainty in the European Union. Stronger-than-expected jobs gains and higher wage inflation in Friday's US jobs report for May raised concerns that inflation may remain sticky while growth stays strong, making the US central bank less likely to cut rates in the coming months. Traders have pared back expectations of the first US rate cut in September, which now has roughly 50-50 odds. The US Labor Department is due to release its consumer price index (CPI) for May at 8:30 a.m. EDT (1830 GMT) on Wednesday, just hours before the Fed concludes its latest two-day policy meeting. The US central bank is expected to leave interest rates unchanged, but Fed policymakers will update economic projections widely known as the "dot plot.“
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
