- USDTHB: moving in the range 33.44-33.48 this morning supportive level at 33.25 resistance level at 33.55
- SET Index: 1,452.2 (+0.55%), 7 Oct 2024
- S&P 500 Index: 5,695.9 (-0.96%), 7 Oct 2024
- Thai 10-year government bond yield (interpolated): 2.57 (+3.66 bps), 7 Oct 2024
- US 10-year treasury yield: 4.03 (+5.00 bps), 7 Oct 2024
- US consumer credit growth slows on drop in revolving credit
- Retail sales slightly up in eurozone
- UK house prices index rise for third straight month, beating expectations
- Thailand’s inflation accelerated but below expectations in September
- Dollar stable; euro slips on weak data
US consumer credit growth slows on drop in revolving credit
According to Federal Reserve data released, US consumer borrowing increased in August at a slower pace than a month earlier, restrained by the largest drop in credit-card balances since March 2021. Total credit outstanding rose $8.9 billion after a revised $26.6 billion July increase that was the largest since October 2022. Revolving debt outstanding, which includes credit cards, decreased nearly $1.4 billion. Non-revolving credit, such as loans for vehicle purchases and school tuition, increased $10.3 billion. The decline in revolving debt outstanding suggests consumers are focused on reducing credit-card balances that are carrying much higher interest rates than they were years ago.
Retail sales slightly up in eurozone
According to first estimates from Eurostat, retail sales in August up by 0.2%mom in the Euro area and by 0.3%mom in the EU. The major contribution was in automotive fuel in specialised stores, and non-food products (except automotive fuel) in Euro area. In the EU, side food, drinks, and tobacco saw an increase as well as non-food products, and automotive fuel. On annual basis, retail sales index increased by 0.8% in the Euro area and by 1.0% in the EU. The retail trade decreased for food, drinks and tobacco by 0.2%, increased for non-food products by 1.4% and for automotive fuel by 2.5% in the eurozone. In the EU, sales remained stable for food, drinks, and tobacco, and increased for non-food products, and for automotive fuel.
UK house prices index rise for third straight month, beating expectations
UK Halifax House Price Index shows a 0.3% increase in September to £293,399, up from £292,540 in August, surpassing the 0.2% forecasted, with the previous month at 0.3%, which pushed the annual growth rate up to 4.7%. This left the average price only a little short of the record high of £293,507 set in June 2022. Northern Ireland continues to record the strongest property price growth of region in the UK while London continues to have the most expensive property prices in the UK, now averaging £539,238, up +2.6% compared to last year. This is still some way below the capital’s peak property price of £552,592 set in August 2022.
Thailand’s inflation accelerated but below expectations in September
Ministry of Commerce announced that Thailand’s headline Consumer Price Index (CPI) had increased of 0.61%YoY in September, up from the previous month of 0.35%YoY rise, which below the Reuters poll of the 0.80%YoY. The core CPI, excluding volatile food and energy prices, rose by 0.77%YoY in September. During January to September, headline inflation on average stood at 0.2%. Ministry of Commerce also revised down its headline inflation range of this year of 0.2-0.8% narrower compared to previous forecast of 0-1%.
Dollar stable; euro slips on weak data
The 10-year government bond yield (interpolated) on the previous trading day was 2.57, +3.66 bps. The benchmark government bond yield (LB346A) was 2.52, +5.0 bps. Meantime, the latest closed US 10-year bond yields was 4.03, +5.00 bps. USDTHB on the previous trading day closed around 33.03 Moving in a range of 33.44-33.48 this morning. USDTHB could be closed between 33.25-33.55 today. The U.S. dollar stabilized Monday, holding onto the gains seen after Friday’s strong jobs report at the start of a week that includes the release of key inflation data as well as the minutes from the last Federal Reserve meeting, which traded marginally lower at 102.247. It rose 0.5% on Friday to a seven-week high, logging more than 2% gains for the week, its biggest in two years.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
