- USDTHB : moving in the range 34.40 – 34.55 this morning, supporting level of USDTHB is around 34.30 resistance level is around 34.70
- SET Index: 1,629.6 (-0.84%), 6 May 2022
- S&P 500 Index: 4,123.3 (-0.59%), 6 May 2022
- Thai 10-year government bond yield (interpolated) : 3.21% (+14.00 bps), 6 May 2022
- US 10-year treasury yield: 3.12 (+7.00bps), 6 May 2022
- China's April exports slow, imports unchanged amid expanding virus curbs
- Manufacturing drives strong U.S. hiring; wage growth cools
- Oil slips on global economic concerns, ahead of EU vote on Russia oil ban
- UST continued to rise after solid U.S. jobs number, TGB steepened sharply
China's April exports slow, imports unchanged amid expanding virus curbs
China's export growth slowed to single digits in April, while imports were unchanged as tighter and wider COVID-19 curbs halted factory production, disrupted supply chains and triggered a collapse in domestic demand. Exports in dollar terms grew 3.9% in April from a year earlier, compared with the 14.7% growth reported in March and slightly beating analysts' forecast of 3.2%. The growth was the slowest since June 2020. Imports were unchanged year-on-year last month, improving slightly from a 0.1% fall in March. A sharply depreciating yuan likely bolstered exports in April. The Chinese currency suffered its worst month in April in nearly two years as risks to the economy grow, and touched a 1-1/2-year low.
Manufacturing drives strong U.S. hiring; wage growth cools
U.S. job growth increased more than expected in April as manufacturers boosted hiring, underscoring the economy's strong fundamentals despite a decline in output in the first quarter. The survey of establishments showed nonfarm payrolls rose by 428,000 jobs last month. But the economy created 38,000 fewer jobs in February and March than previously reported. It was the 12th straight month of employment gains in excess of 400,000. The broad increase in hiring last month was led by the leisure and hospitality sector, which added 78,000 jobs. Restaurants and bars contributed 44,000 jobs to those gains, leaving employment in the industry 1.4 million below its February 2020 level. Manufacturing payrolls rose by 55,000 jobs after increasing by 43,000 in March, indicating that demand for goods remains strong, which should help to underpin consumer spending.
Oil slips on global economic concerns, ahead of EU vote on Russia oil ban
Oil prices slipped on Monday, along with stock markets in Asia, sparked by fears a global recession could dampen oil demand, with investors eying European Union talks on a Russian oil embargo that is expected to tighten global supplies. Brent crude dropped 28 cents, or 0.3%, to $112.11 a barrel by 0153 GMT. U.S. West Texas Intermediate crude was at $109.36 a barrel, down 41 cents, or 0.4%.
UST continued to rise after solid U.S. jobs number, TGB steepened sharply
The 10-year government bond yield (interpolated) on the previous trading day was 3.21, +14.00 bps. The benchmark government bond yield (LB31DA) was 3.20, +23.00 bps. LB31DA could be between 2.93-3.05. Meantime, the latest closed US 10-year bond yields was 3.12%, +12.00bps. USDTHB on the previous trading day closed around 34.38 Moving in a range from 34.40-34.55 this morning. USDTHB could be closed between 34.45-34.60 today. The dollar began the week on a strong footing, buttressed by sharply rising U.S. yields and by investors' tilt toward safety as lockdowns in China, war on the edge of Europe and fear about higher interest rates sent a nervous jolt through markets.
