- USDTHB: moving in the range 33.90-33.985 this morning supportive level at 33.75 resistance level at 34.05
- SET Index: 1,352.5 (+0.89%), 21 Jan 2025
- S&P 500 Index: 6,049.2 (+0.87%), 21 Jan 2025
- Thai 10-year government bond yield (interpolated): 2.414 (+0.13 bps), 21 Jan 2025
- US 10-year treasury yield: 4.57 (-4.0 bps), 21 Jan 2025
- Trump says he's still considering a 10% tariff threat on China
- UK wage growth hits six-month high ahead of BOE meeting
- Canadian consumer prices rose slightly in December, helped by a sales tax break
- China vows to increase imports after avoiding US tariffs
- Dollar pressured as investors await Trump's policy clarity
Trump says he's still considering a 10% tariff threat on China
President Donald Trump stated that his threat to impose 10% tariffs on all Chinese imports remains active, despite previously excluding China from the list of countries he planned to target soon. His comments on Tuesday indicate that any temporary relief for China from the proposed trade taxes may not last long.
UK wage growth hits six-month high ahead of BOE meeting
The UK wage growth reached a six-month peak, despite a decline in employment following Labour's hike in payroll taxes during its initial budget. Pay excluding bonuses increased by 5.6% in the three months leading up to November compared to the same period the previous year, up from 5.2% in October. This was slightly above the 5.5% wage growth anticipated by the market, although analysts suggest that strong base effects are boosting the numbers. Private-sector pay growth, which is closely monitored by the Bank of England, rose to 6% from 5.5%.
Canadian consumer prices rose slightly in December, helped by a sales tax break
Canada’s inflation rate dropped to 1.8% in December, mainly due to a temporary federal tax break. The biggest factors in the slowdown were restaurant food and store-bought alcohol. Shelter cost inflation eased slightly to 4.5%, while rent rose at a slower rate of 7.1%. The tax break on certain items, including food, children’s clothing, and toys, helped reduce inflation; without it, the rate would have been 2.3%.
China vows to increase imports after avoiding US tariffs
Chinese Vice Premier Ding Xuexiang announced that China plans to increase imports, shortly after U.S. President Donald Trump excluded China from the list of countries he intended to target with tariffs. "We don't aim for a trade surplus. We want to import more competitive, high-quality products and services to promote balanced trade," Ding stated on Tuesday at the World Economic Forum in Davos.
Dollar pressured as investors await Trump's policy clarity
The 10-year government bond yield (interpolated) on the previous trading day was 2.414, +0.13 bps. The benchmark government bond yield (LB346A) was 2.40, +0.0 bps. Meantime, the latest closed US 10-year bond yields was 4.57, -4.0 bps. USDTHB on the previous trading day closed around 34.04, moving in a range of 33.90 – 33.985 this morning. USDTHB could be closed between 33.75 – 34.05 today. The dollar ended the session mostly unchanged after reversing some overnight gains, following reports that President Trump is considering 25% tariffs on Mexico and Canada, with potential implementation on February 1st. The G10 saw a broad recovery with little new developments. The euro gradually recovered from initial losses, overcoming weaker-than-expected German ZEW Economic Sentiment data to regain the 1.0400 mark. The Japanese yen fluctuated between gains and losses before stabilizing near 155.50, despite reports suggesting the BoJ may be moving toward a rate hike at this week’s meeting.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
