- USDTHB : moving in the range 34.67 – 34.75 this morning, supporting level of USDTHB is around 34.60 resistance level is around 34.80
- SET Index: 1,548.5 (-1.80%), 12 May 2022
- S&P 500 Index: 3,930.1 (-0.13%), 12 May 2022
- Thai 10-year government bond yield (interpolated) : 3.39% (-2.00 bps), 12 May 2022
- US 10-year treasury yield: 2.84 (-7.00bps), 12 May 2022
- UK economy shrinks in March as recession risks mount
- U.S. Producer Price Index Edges Lower to 11% on Year in April
- Philippines economy in solid shape in Q1, boosts rate hike views
- Global growth worries send dollar to new 20-yr high
UK economy shrinks in March as recession risks mount
Britain's economy unexpectedly shrank in March, marking a weak end to the first quarter of a year when the risk of recession is looming and increasing pressure on the government to offer more support to inflation-hit households. Gross domestic product fell 0.1% from February, hurt by a slump in car sales due to supply-chain problems, the Office for National Statistics said. That left growth in the first three months at 0.8%, weaker than the Bank of England's 0.9% forecast. Britain's economy outpaced the United States and the euro zone in the first quarter, although this partly reflected an earlier start and end to the Omicron wave of COVID-19, and differences in the timing of energy price rises.
U.S. Producer Price Index Edges Lower to 11% on Year in April
U.S. producer price inflation showed signs of peaking in April but remained in double digits, as the surge in energy prices in the wake of Russia's invasion of Ukraine weakened a little. The annual rate of factory gate inflation fell to 11.0% from 11.5%, as the monthly rise in prices slowed to 0.5% from 1.6% in March. The monthly rise was in line with consensus forecasts. The softening was due largely to energy prices, which had risen at 7.2% and 6.4% in the previous two months. That slowed to a rise of only 1.7% in April as crude prices eased somewhat after the initial shock of Russia's invasion.
Philippines economy in solid shape in Q1, boosts rate hike views
The Southeast Asian nation's economy grew a better-than-expected 8.3% in the first quarter, the government said on Thursday. It was the fastest annual growth since the June quarter of 2021. On a seasonally adjusted basis, the economy grew 1.9% in January-March from the previous quarter, with the easing of COVID-19 curbs and election-related spending underpinning domestic demand.
The Philippines thus was the fastest growing economy in the East Asia Region for the period, officials said. That gives the Bangko Sentral ng Pilipinas (BSP) scope to raise interest rates to tackle rising inflation, which threatens to dampen consumer sentiment and derail the economic recovery.
Global growth worries send dollar to new 20-yr high
The 10-year government bond yield (interpolated) on the previous trading day was 3.39, -2.00 bps. The benchmark government bond yield (LB31DA) was 3.25, -5.00 bps. LB31DA could be between 3.30-3.35. Meantime, the latest closed US 10-year bond yields was 2.84%, -7.00bps. USDTHB on the previous trading day closed around 34.73 Moving in a range from 34.67-34.75 this morning. USDTHB could be closed between 34.65-34.85 today. The dollar climbed to a fresh 20-year high on Thursday as concerns persisted that central bank actions to drive down high inflation would crimp global economic growth, boosting the currency's safe-haven appeal.
