- USDTHB : moving in the range 32.85 – 32.89 this morning, USDTHB at current level might be possible long entry. Hawkish Fed may likely continue to drive USDTHB in medium term, supporting level of USDTHB is around 32.85, 32.60 resistance level is around 33.00, 33.20
- SET Index: 1,684.2 (+0.42%), 8 Feb 2022
- S&P 500 Index: 4,521.5 (+0.84%), 8 Feb 2022
- Thai 10-year government bond yield (interpolated) : 2.21% (+2.00 bps), 8 Feb 2022
- US 10-year treasury yield: 1.96 (+4.00bps), 8 Feb 2022
- U.S. December trade data reveals massive shortfall in China's 'Phase 1' purchases
- Fed's Daly says U.S. inflation could get worse before it gets better
- European, U.S. regulators tell banks to prepare for Russian cyberattack threat
- Dollar, euro trade sideways after ECB pushback
U.S. December trade data reveals massive shortfall in China's 'Phase 1' purchases
U.S. goods exports to China fell in December, cementing a massive shortfall in Beijing's two-year purchase commitments under the "Phase 1" trade deal negotiated by former President Donald Trump's administration. The U.S. Census Bureau said on Tuesday that the United States' 2021 goods trade deficit with China rose by $45 billion, or 14.5%, to $355.3 billion, the largest since a 2018 record of $418.2 billion. The 2020 gap was $310.3 billion, a 10-year low driven by coronavirus pandemic lockdowns. The global U.S. trade deficit in 2021 surged 27% to a record $859.1 billion as businesses restocked inventories to meet robust demand. The data showed China missed by far its commitments to purchase an additional $200 billion worth of U.S. farm and manufactured goods, energy and services above 2017 levels - the year before a trade war.
Fed's Daly says U.S. inflation could get worse before it gets better
High U.S. inflation may get even higher before subsiding in the face of Federal Reserve action and as supply chain strains recede, Fed Mary Daly said on Tuesday. "We could have it be worse before it gets better but it is definitely going to get better," Daly told CNN, adding that even so she doesn't expect inflation to have fallen to 2% by the end of the year. Consumer prices rose 7% last year, eating into American paychecks. The Fed is expected to begin raising interest rates from near-zero levels next month, a move Daly said she supports. When it does, Daly said, the Fed should do neither too little nor be "overly aggressive," mindful that the Fed alone cannot cure inflation that's caused in large part by ongoing pandemic disruption.
European, U.S. regulators tell banks to prepare for Russian cyberattack threat
The European Central Bank is preparing banks for a possible Russian-sponsored cyber attack as tensions with Ukraine mount, as the region braces for the financial fallout of any conflict. The stand-off between Russia and Ukraine has rattled Europe's political and business leaders, who fear an invasion that would inflict damage on the entire region. Earlier this week, French President Emmanuel Macron shuttled from Moscow to Kyiv in a bid to act as a mediator after Russia massed troops near Ukraine. Now the European Central Bank, led by former French minister Christine Lagarde, is on alert for the threat of cyber attacks on banks launched from Russia, the people said.
Dollar, euro trade sideways after ECB pushback
The 10-year government bond yield (interpolated) on the previous trading day was 2.21, +2.00 bps. The benchmark government bond yield (LB31DA) was 2.20, +2.00 bps. LB31DA could be between 2.18-2.23. Meantime, the latest closed US 10-year bond yields was 1.96%, +4.00bps. USDTHB on the previous trading day closed around 32.97 Moving in a range from 32.85-32.89 this morning. USDTHB could be closed between 32.85-32.95 today. Meantime, The dollar strengthened and the euro weakened in sideways trade on Tuesday, a day after European Central Bank President Christine Lagarde tapped down expectations of aggressive interest rate hikes that have spooked bond markets.
Sources : ttb analytics , Bloomberg, CNBC, Investing, CEIC
