- USDTHB: moving in the range 34.58-34.68 this morning supportive level at 34.50 resistance level at 34.70
- SET Index: 1,372.7 (-0.88%), 6 Jan 2025
- S&P 500 Index: 5,975.4 (+0.55%), 6 Jan 2025
- Thai 10-year government bond yield (interpolated): 2.349 (+4.22 bps), 6 Jan 2025
- US 10-year treasury yield: 4.62 (+2.0 bps), 6 Jan 2025
- Trump says reports on changes to his tariff policy are incorrect
- German inflation rises more than expected in December
- Ueda reminds bankers of potential rate hikes
- Trudeau resigns after 9 years as Liberals push him out
- Thai inflation hits target for the first time in seven months
- Dollar drops in volatile trading amid Trump tariff uncertainty
Trump says reports on changes to his tariff policy are incorrect
The Washington Post reported that Trump aides were considering universal import duties on certain sectors, a shift from his more aggressive campaign stance. The affected sectors were unclear, but discussions focused on industries Trump wants to bring back to the U.S., like defense (steel, iron, aluminum, copper), medical supplies (syringes, vials, pharmaceuticals), and energy (batteries, rare earth minerals, solar panels). However, Trump later denied on Truth Social that he would scale back his tariff policy.
German inflation rises more than expected in December
Germany's annual inflation exceeded expectations in December, driven by higher food prices and a smaller decline in energy costs compared to previous months. The annual consumer price inflation rate increased to 2.9%, up from 2.4% in November and above the 2.6% forecast. The average inflation rate in Germany for 2024 is projected to be 2.2%.
Ueda reminds bankers of potential rate hikes
BOJ Governor Kazuo Ueda reminded bankers that he plans to raise the benchmark rate if the economy shows continued improvement this year. His reaffirmation of the current stance comes as analysts look for hints regarding whether the central bank will hike rates this month or in March. Ueda kept the timing of the next rate increase uncertain, stating that it will depend on economic growth, inflation, and financial conditions.
Trudeau resigns after 9 years as Liberals push him out
Justin Trudeau is stepping down as Canada’s prime minister after over nine years, citing poor polling and internal party unrest. He announced he cannot unite the Liberals for the upcoming election and will remain in office until a new leader is chosen, likely in March.
Thai inflation hits target for the first time in seven months
Thailand's inflation returned to the central bank's target range for the first time in seven months, with December CPI rising 1.23%, meeting the 1%-3% target. However, it was below the 1.4% expected by analysts. Full-year inflation averaged 0.4%. Consumer prices fell 0.18% month-on-month in December. Inflation is expected to exceed 1% in Q1 due to higher diesel and food prices, with the central bank forecasting 1.1% inflation and 2.9% economic growth for 2025.
Dollar drops in volatile trading amid Trump tariff uncertainty
The 10-year government bond yield (interpolated) on the previous trading day was 2.349, +4.22 bps. The benchmark government bond yield (LB346A) was 2.35, +7.0 bps. Meantime, the latest closed US 10-year bond yields was 4.62, +2.0 bps. USDTHB on the previous trading day closed around 34.60, moving in a range of 34.58 – 34.68 this morning. USDTHB could be closed between 34.50 – 34.70 today. The dollar fell broadly after a Washington Post report briefly pushed the index below 108.00, but it rebounded after Trump called the report fake news. The euro benefited from the dollar's weakness and stronger German inflation, briefly reaching 1.0400 before pulling back. The yen failed to gain, as markets shrugged off BoJ Governor Ueda's comments on raising interest rates.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
