- USDTHB : moving in the range 33.40 – 33.50 this morning, supporting level of USDTHB is around 33.30 resistance level is around 33.70
- SET Index: 1,680.9 (+0.18%), 24 Mar 2022
- S&P 500 Index: 4,520.2 (+1.45%), 24 Mar 2022
- Thai 10-year government bond yield (interpolated) : 2.40% (-0.20 bps), 24 Mar 2022
- US 10-year treasury yield: 2.34 (+2.00bps), 24 Mar 2022
- U.S. weekly jobless claims drop to lowest level since 1969
- Euro zone March business growth strong but outlook darkens
- Core inflation in Japan's capital hits 2-year high in March
- Dollar climbs as data supports bigger rate hikes
U.S. weekly jobless claims drop to lowest level since 1969
The number of Americans filing new claims for jobless benefits dropped to a 52-1/2-year low last week, while unemployment rolls continued to shrink, pointing to rapidly diminishing labor market slack that will keep boosting wage inflation. Initial claims for state unemployment benefits fell 28,000 to a seasonally adjusted 187,000 for the week ended March 19, the lowest level since September 1969. The strength in the job market reported by the Labor Department on Thursday may push the Federal Reserve to raise interest rates by half a percentage point at its next policy meeting in May.
Euro zone March business growth strong but outlook darkens
Euro zone business growth was stronger than expected this month, a survey showed on Thursday, although prices rose at a record pace, likely adding to pressure on the European Central Bank to raise interest rates. However, some of that expansion came from a rebound following the lifting of COVID restrictions and the outlook is murky as supply chain issues caused by the coronavirus pandemic have worsened following Russia's invasion of Ukraine. S&P Global (NYSE:SPGI)'s Flash Composite Purchasing Managers' Index, seen as a good gauge of overall economic health, slipped to 54.5 in March from 55.5 in February.
Core inflation in Japan's capital hits 2-year high in March
Core consumer prices in Japan's capital rose at the fastest annual increase in more than two years in March, propelled by soaring energy costs. The Tokyo core consumer price index (CPI), which excludes volatile fresh food but includes energy items, rose 0.8% year-on-year in March, the fastest pace since December 2019. The relentless uptrend in global commodity prices following the war in Ukraine could ruin import-reliant Japan's fragile recovery from the pandemic, even as domestic COVID-19 infections wane and social distancing curbs are reduced.
Dollar climbs as data supports bigger rate hikes
The 10-year government bond yield (interpolated) on the previous trading day was 2.40, -0.20 bps. The benchmark government bond yield (LB31DA) was 2.39, +3.00 bps. LB31DA could be between 2.34-2.40. Meantime, the latest closed US 10-year bond yields was 2.34%, +2.00bps. USDTHB on the previous trading day closed around 33.65 Moving in a range from 33.40-33.50 this morning. USDTHB could be closed between 33.30-33.70 today. The dollar rose for the fourth time in the past five sessions, as economic data on the labor market helped firm expectations the U.S. Federal Reserve will be more aggressive in taking steps to curb inflation.
Sources : ttb analytics , Bloomberg, CNBC, Investing, CEIC
