- USDTHB : moving in the range 33.36 – 33.44 this morning, supporting level of USDTHB is around 33.30 resistance level is around 33.50,33.70
- SET Index: 1,658.0 (+0.66%), 11 Mar 2022
- S&P 500 Index: 4,204.3 (-1.30%), 11 Mar 2022
- Thai 10-year government bond yield (interpolated) : 2.29% (+1.60 bps), 11 Mar 2022
- US 10-year treasury yield: 2.00 (+2.00bps), 11 Mar 2022
- U.S. consumer sentiment near 11-year low
- IMF Head Cautious on Russian Default, But See No immediate Risk
- China Locks Down Tech Hub of Shenzhen as Covid Outbreak Spreads
- Dollar Up as Central Bank Prepare to Hand Down Policy Decisions
U.S. consumer sentiment near 11-year low
U.S. consumer sentiment fell more than expected in early March as gasoline prices surged to a record high in the aftermath of Russia's war against Ukraine, boosting one-year inflation expectations to the highest level since 1981. The University of Michigan's preliminary consumer sentiment index dropped to 59.7 in the first half of this month, the lowest reading since September 2011, from a final reading of 62.8 in February.
IMF Head Cautious on Russian Default, But See No immediate Risk
A Russian sovereign default is no longer improbable, though it’s unlikely to trigger a global financial crisis, International Monetary Fund Managing Director Kristalina Georgieva said. With Russia and Russian banks under sanctions by the U.S. and its allies after the full-scale invasion of Ukraine, Russia’s credit rating has faced downgrades. Fitch Ratings said last week that a bond default is “imminent” as a result of measures imposed since the war in Ukraine began on Feb. 24.
China Locks Down Tech Hub of Shenzhen as Covid Outbreak Spreads
China placed the 17.5 million residents of the southern city of Shenzhen into lockdown for at least a week, spurring a key Apple Inc. supplier to halt production as authorities sought to gain control of a spreading Covid-19 outbreak in the vital technology hub. The lockdown, which came after virus cases doubled nationwide to nearly 3,400, will be accompanied by three rounds of city-wide, mass testing. Called with little notice on Sunday, the order followed earlier restrictions placed on Shenzhen’s central business district, and will last until March 20. The Hang Seng Tech Index slumped more than 8% during morning trade, with the sector again at the forefront of losses in Hong Kong and China stocks.
Dollar Up as Central Bank Prepare to Hand Down Policy Decisions
The 10-year government bond yield (interpolated) on the previous trading day was 2.29, +1.60 bps. The benchmark government bond yield (LB31DA) was 2.30, +4.50 bps. LB31DA could be between 2.27-2.33. Meantime, the latest closed US 10-year bond yields was 2.00%, +2.00bps. USDTHB on the previous trading day closed around 33.23 Moving in a range from 33.30-33.40 this morning. USDTHB could be closed between 33.38-33.48 today. The dollar was up on Monday morning in Asia. The Japanese yen hit a fresh five-year low as a slew of central banks prepare to hand down their policy decisions throughout the week.
Sources : ttb analytics , Bloomberg, CNBC, Investing, CEIC
