- USDTHB : moving in the range 34.50 – 34.60 this morning, supporting level of USDTHB is around 34.50 resistance level is around 34.70
- SET Index: 1,614.5 (+1.88%), 17 May 2022
- S&P 500 Index: 4,088.9 (+2.00%), 17 May 2022
- Thai 10-year government bond yield (interpolated) : 3.42% (+3.50 bps), 17 May 2022
- US 10-year treasury yield: 2.98 (+10.00bps), 17 May 2022
- Strong U.S. retail sales, manufacturing output boost economic outlook
- UK unemployment hits 48-year low, pushing up pay
- Japan's GDP shrinks as surging costs raise specter of deeper downturn
- Dollar slips as risk appetite returns, GBP rallies strong from the job data
Strong U.S. retail sales, manufacturing output boost economic outlook
U.S. retail sales rose strongly in April as consumers bought more motor vehicles amid an improvement in supply and increased spending at restaurants, providing a powerful boost to the economy at the start of the second quarter. Retail sales rose 0.9% last month. Data for March was revised higher to show sales advancing 1.4% instead of 0.5% as previously reported. April's increase in retail sales, which reflected both strong demand and higher prices, was in line with economists' expectations. Sales rose 8.2% on a year-on-year basis. The increase in retail sales was led by receipts at auto dealerships, which rebounded 2.2% after falling 1.6% in March.
UK unemployment hits 48-year low, pushing up pay
Britain's jobless rate hit a 48-year low in the first three months of 2022 and employers paid bigger bonuses to keep or attract staff, according to data that added to bets by investors on further Bank of England interest rate hikes. Core earnings for most workers fell by the greatest amount since 2013 when adjusted for surging inflation, the Office for National Statistics said on Tuesday. The jobless rate dropped to 3.7% from 3.8% and the number of people out of work was less than job vacancies on offer for the first time on record. The BoE fears that higher-than-normal pay growth could be a key channel through which the current energy-driven leap in inflation might become entrenched.
Japan's GDP shrinks as surging costs raise specter of deeper downturn
Japan's economy shrank for the first time in two quarters in the first three months of the year as COVID-19 curbs hit the service sector and surging commodity prices created new pressures, raising concerns about a protracted downturn. Japan’s economy shrank at an annualized rate of 1.0% in January-March from the previous quarter, gross domestic product (GDP) figures showed. That translated into a quarterly drop of 0.2%, the Cabinet Office data showed, versus market forecasts for a 0.4% drop.
Dollar slips as risk appetite returns, GBP rallies strong from the job data
The 10-year government bond yield (interpolated) on the previous trading day was 3.42, +3.50 bps. The benchmark government bond yield (LB31DA) was 3.32, -3.00 bps. LB31DA could be between 3.28-3.40. Meantime, the latest closed US 10-year bond yields was 2.98%, +10.00bps. USDTHB on the previous trading day closed around 34.63 Moving in a range from 34.50-34.60 this morning. USDTHB could be closed between 34.50-34.70 today. The dollar fell for a third straight day on Tuesday, pulling back from a two-decade high against a basket of major peers, as an uptick in investors' appetite for riskier bets diminished the U.S. currency's appeal. The pound surged against the dollar Tuesday as a stronger-than-expected labor market is expected to give the Bank of England the green light to continue hiking rates ahead of the record U.K. inflation report expected Wednesday.
