- USDTHB: moving in the range 34.06-34.24 this morning supportive level at 33.90 resistance level at 34.40
- SET Index: 1,340.5 (-0.01%), 20 Jan 2025
- S&P 500 Index: 5,996.7 (+0.99%), 17 Jan 2025
- Thai 10-year government bond yield (interpolated): 2.413 (+0.39 bps), 20 Jan 2025
- US 10-year treasury yield: 4.61 (+0.0 bps), 17 Jan 2025
- Donald Trump was sworn in as the 47th president
- Trump delays China tariffs, orders review
- China holds loan prime rate steady
- South Korea’s early trade data reveals slow export growth
- Dollar declines as signs point to gradual Trump tariffs
Donald Trump was sworn in as the 47th president
Donald Trump was sworn in as the 47th U.S. President, declaring the start of America's golden age. In his Inaugural Address, he outlined plans to sign executive orders addressing inflation, launch a Mars mission, halt illegal immigration, reinstate the "Remain in Mexico" policy, and send troops to the southern border. He also announced a national energy emergency, reiterated "drill baby, drill," and vowed to overhaul trade by taxing foreign nations and create an "External Revenue Service."
Trump delays China tariffs, orders review
On his first day in office, President Donald Trump delayed imposing China-specific tariffs, instead directing his administration to address global trade unfairness and investigate whether Beijing had honored an agreement from his first term. Trump's decision not to target China immediately suggests a shift toward negotiation, with potential future tariffs, offering some relief to companies concerned about immediate trade duties. Nonetheless, he announced plans to impose tariffs of up to 25% on Mexico and Canada by February 1, emphasizing his belief that the two neighboring countries are enabling the flow of migrants and drugs into the U.S.
China holds loan prime rate steady
China maintained its benchmark lending rates for the third month in a row, as anticipated, due to the weakening yuan which has constrained the effectiveness of Beijing's monetary easing measures. The one-year loan prime rate (LPR) remained at 3.1%, and the five-year LPR stayed at 3.6%. The one-year LPR typically applies to most new and outstanding loans in China, while the five-year rate affects mortgage pricing.
South Korea’s early trade data reveals slow export growth
South Korea’s early trade data shows weak export growth in January, with shipments rising 1.4% year-on-year, down from 4.3% in December. Unadjusted exports dropped 5.1% due to fewer working days, while imports fell 1.7%, resulting in a $3.8 billion trade deficit. Political turmoil and uncertainties over Trump’s return to power are adding pressure to the trade-reliant economy.
Dollar declines as signs point to gradual Trump tariffs
The 10-year government bond yield (interpolated) on the previous trading day was 2.413, +0.39 bps. The benchmark government bond yield (LB346A) was 2.40, -0.5 bps. Meantime, the latest closed US 10-year bond yields was 4.61, +0.0 bps. USDTHB on the previous trading day closed around 34.37, moving in a range of 34.06 – 34.24 this morning. USDTHB could be closed between 33.90 – 34.40 today. The dollar dropped following the WSJ report that no day-one tariffs would be imposed, triggering a risk-on sentiment across G10 and emerging markets, causing the index to briefly fall below 108.00. The euro gained from the dollar’s decline and the absence of immediate tariff measures, bolstered by recent hawkish remarks from ECB officials Schnabel and Holzmann. The Japanese yen also strengthened against the dollar, with USD/JPY falling below 156.00, although its movements were more subdued compared to other major currencies.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
