- USDTHB : moving in the range 33.20 – 33.28 this morning, USDTHB at current level might be possible long entry. But hawkish Fed may likely continue to drive USDTHB in medium term, supporting level of USDTHB is around 33.20, 33.00, resistance level is around 33.60
- SET Index: 1,648.8 (+0.57%), 31 Jan 2022
- S&P 500 Index: 4,515.6 (+1.87%), 31 Jan 2022
- Thai 10-year government bond yield (interpolated) : 2.13% (-2.00 bps), 31 Jan 2022
- US 10-year treasury yield: 1.79 (+1.00bps), 31 Jan 2022
- Fed's Daly supports rate liftoff in March, wants options open on rate path
- Inflation expectations stable, faster price rises may be easing -Fed data
- Japan Jan factory growth hits near 8-year high – PMI
- Dollar slides as recent rally takes a pause, may have seen short-term peak
Fed's Daly supports rate liftoff in March, wants options open on rate path
The U.S. Federal Reserve should start raising interest rates from near zero in March, but should keep its options open on how far to raise them after that, Fed Mary Daly said on Monday. Daly said she does not know whether rates will need to be increased three times this year, as most Fed policymakers in December thought would be appropriate. She added, "I don't want to predetermine what that level should be, because I really do see the two-sided risks we're facing, and so I want to be data dependent.” Wages are rising, but there is no sign of that pushing up prices in a 1970s-style wage-price spiral, she said. The challenge for the Fed, Daly said, is to remove its "extraordinary accommodation" and allow the economy to stand on its own, without removing so much that it undercuts economic growth.
Inflation expectations stable, faster price rises may be easing -Fed data
Data watched closely by the Federal Reserve showed inflation expectations remained broadly anchored through the end of last year, while an alternate measure of inflation showed the most intense price pressures may have begun to ease. At the same time, a Reuters poll of economists confirmed expectations of a weak January U.S. jobs report, with data to be released on Friday anticipated to show just 153,000 positions added in what would be the worst showing in a year. About 10% of those polled think the economy lost jobs over the month, which featured a record number of new COVID-19 infections from the highly transmissible Omicron variant. That good-news-bad-news mix could well typify the nature of incoming economic data in the weeks ahead as policymakers gear up to start reversing the extraordinary accommodation.
Japan Jan factory growth hits near 8-year high – PMI
Japan's manufacturing activity grew at the fastest pace in nearly eight years in January on stronger output and new orders, while cost pressures stayed elevated as firms continued to face supply chain delays. The supply chain disruptions forced businesses to build up safety stocks, with the survey showing holdings of raw materials increased at the strongest rate in nearly eight years. The final au Jibun Bank Japan Manufacturing Purchasing Managers' Index (PMI) in January rose to 55.4 on a seasonally adjusted basis, up from a 54.6 flash reading and the previous month's final of 54.3. That marked the fastest growth since February 2014 and the 12th straight month of expansion in manufacturing activity.
Dollar slides as recent rally takes a pause, may have seen short-term peak
The 10-year government bond yield (interpolated) on the previous trading day was 2.13, -2.00 bps. The benchmark government bond yield (LB31DA) was 2.13, -2.00 bps. LB31DA could be between 2.10-2.15. Meantime, the latest closed US 10-year bond yields was 1.79%, +1.00bps. USDTHB on the previous trading day closed around 33.32 Moving in a range from 33.20-33.28 this morning. USDTHB could be closed between 33.23-33.33 today. Meantime, The U.S. dollar fell on Monday, posting its largest daily fall since last November as investors consolidated gains after hitting a 1-1/2-year high on Friday on expectations of a faster pace of rate hikes by the Federal Reserve.
Sources : ttb analytics , Bloomberg, CNBC, Investing, CEIC
