- USDTHB : moving in the range 33.60 – 33.70 this morning, supporting level of USDTHB is around 33.50 resistance level is around 33.70
- SET Index: 1,676.8 (-0.24%), 25 Mar 2022
- S&P 500 Index: 4,543.1 (+0.51%), 25 Mar 2022
- Thai 10-year government bond yield (interpolated) : 2.49% (+8.90 bps), 25 Mar 2022
- US 10-year treasury yield: 2.48 (+14.00bps), 25 Mar 2022
- UK retail sales and consumer confidence fall as inflation mounts
- China industrial profits up, but mired in single-digit growth
- Oil slumps as Shanghai shuts to curb COVID surge
- Dollar edges up, on track for third straight day of gains
UK retail sales and consumer confidence fall as inflation mounts
Retail sales volumes unexpectedly fell by 0.3% in February from January. Excluding automotive fuel, which rose in price in February as tensions between Russia and Ukraine escalated, sales volumes fell by a sharper 0.7%. The data combined with a drop in polling firm GfK's measure of consumer confidence in March to levels last seen in November 2020 was a taste of things to come as inflation climbs higher. GfK's gauge of personal finances for the coming year slumped to a joint record low, matched only by the reading in July 2008 when the global financial crisis was reaching a climax.
China industrial profits up, but mired in single-digit growth
Profit growth at China's industrial firms accelerated in January-February in line with other signs of momentum in the economy, although the outlook clouded by COVID-19 outbreaks and the war in Ukraine is stoking calls for supportive measures. Profits rose 5.0% in from a year earlier, up from a 4.2% gain in December, the National Bureau of Statistics (NBS) said on Sunday. The growth in January-February was driven by surging profits in the energy and raw materials sectors, thanks to higher prices of commodities such as crude oil and coal.
Oil slumps as Shanghai shuts to curb COVID surge
Oil prices fell more than $3 in early trade on Monday on prospects of a drop in fuel demand in China after authorities in Shanghai said they would shut the country's financial hub for a COVID-19 testing blitz over nine days. Shanghai's city government said on Sunday all firms and factories would suspend manufacturing or have people work remotely in a two-stage lockdown over nine days, after the city reported a new daily record for asymptomatic COVID-19 infections.
Dollar edges up, on track for third straight day of gains
The 10-year government bond yield (interpolated) on the previous trading day was 2.49, +8.90 bps. The benchmark government bond yield (LB31DA) was 2.44, +9.00 bps. LB31DA could be between 2.40-2.46. Meantime, the latest closed US 10-year bond yields was 2.48%, +14.00bps. USDTHB on the previous trading day closed around 33.51 Moving in a range from 33.60-33.70 this morning. USDTHB could be closed between 33.50-33.80 today. The dollar edged higher against a basket of major currencies on Friday, putting it on track for a third straight day of gains, as crude prices reversed earlier weakness and added to pressure for the Federal Reserve to be aggressive in combating inflation.
Sources : ttb analytics , Bloomberg, CNBC, Investing, CEIC
