- 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: 1,674.3 (-0.25%), 12 Apr 2022
- S&P 500 Index: 4,392.6 (-1.22%), 14 Apr 2022
- Thai 10-year government bond yield (interpolated) : 2.59% (+7.80 bps), 12 Apr 2022
- US 10-year treasury yield: 2.83 (+13.00bps), 14 Apr 2022
- China’s first quarter GDP beats expectations to grow 4.8% year-on-year
- U.S. Retail Sales Moderated in March Amid Squeeze from High Gas Prices
- China cuts reserve requirements for banks as economy slows
- Dollar gains on euro as ECB seen in no rush to hike rates
China’s first quarter GDP beats expectations to grow 4.8% year-on-year
China's economy grew at a faster than expected in the first quarter, data showed on Monday, expanding 4.8% year-on-year, but the risk of a sharp slowdown over coming months has risen as sweeping COVID-19 curbs and the Ukraine war take a heavy toll. The downturn in activity was evident in March indicators, which showed a sharp hit to demand and suggests a hard grind ahead. Separate data on March activity showed retail sales plunged last month on an annual basis on widespread COVID curbs across the country. It fell 3.5%, well below expectations for a 1.6% decrease and an increase of 6.7% in January and February. The industrial sector held up better than expected with production expanding 5.0% from a year earlier, compared with forecasts for 4.5% gain. That was still down from a 7.5% increase seen in the first two months of the year.
U.S. Retail Sales Moderated in March Amid Squeeze from High Gas Prices
U.S. retail sales growth slowed in March, as record-high gasoline prices and rising prices for food and shelter forced consumers to cut back on other spending. Retail sales grew only 0.5%, from an upwardly revised 0.8% gain in February. Core sales, which exclude automobile purchases, held up somewhat better, at 1.1%. As a result, retail sales were up 6.9% on the year. The government's data aren't adjusted for inflation. Consumer prices have risen 8.5% in the last 12 months, so the retail sales number reflects a drop in spending in real terms, consistent with other figures that show many U.S. consumers have now run down the excess savings that they accumulated during the pandemic.
China cuts reserve requirements for banks as economy slows
China said on Friday it would cut the amount of cash that banks must hold as reserves for the first time this year, releasing about 530 billion yuan ($83.25 billion) in long-term liquidity to cushion a sharp slowdown in economic growth.The People's Bank of China (PBOC) said on its website it would cut the reserve requirement ratio (RRR) for all banks by 25 basis points (bps), effective from April 25. Heightened global risks from the war in Ukraine and within China widespread COVID-19 lockdowns and a weak property market have triggered convulsions in the world's second-largest economy that are quickly spilling over into global supply chains.
Dollar gains on euro as ECB seen in no rush to hike rates
The 10-year government bond yield (interpolated) on the previous trading day was 2.59, +7.80 bps. The benchmark government bond yield (LB31DA) was 2.49, +5.20 bps. LB31DA could be between 2.32-2.42. Meantime, the latest closed US 10-year bond yields was 2.83%, +13.00bps. USDTHB on the previous trading day closed around 33.68 Moving in a range from 33.60-33.70 this morning. USDTHB could be closed between 33.60-33.75 today. The dollar gained on the euro, as comments from European Central Bank chief Christine Lagarde were taken as a sign that the bank was in no rush to raise interest rates.
Sources : ttb analytics , Bloomberg, CNBC, Investing, CEIC
