- USDTHB : moving in the range 34.21-34.33 this morning, supporting level of USDTHB is around 34.25 resistance level is around 34.40
- SET Index: 1,625.2 (-0.06%), 25 May 2022
- S&P 500 Index: 3,978.7 (0.94%), 25 May 2022
- Thai 10-year government bond yield (interpolated) : 2.93% (-11.44 bps), 25 May 2022
- US 10-year treasury yield: 2.75 (-1.00bps), 25 May 2022
- Fed Minutes Show Urgency for Hiking Rates
- UK Car Production Falls 11% in April
- Japan Leading Economic Index Revised Lower
- Korea Raises Base Rate Again, Sees Higher Inflation
- Wall Street wobbles as tech disappointed report, Oil edges up
Fed Minutes Show Urgency for Hiking Rates Most Fed policymakers judged that 50 basis point increases in the target range for the fed funds rate would likely be appropriate at the next couple of meetings, minutes of May showed. It is also noted that a restrictive stance of policy may well become appropriate depending on the evolving economic outlook, seen as highly uncertain. At the same time, expediting the removal of policy accommodation would leave the Committee well positioned later this year to assess the effects of policy firming.
UK Car Production Falls 11% in April UK car production fell 11.3% to 60,554 units in April 2022 from a year ago, amid ongoing chip shortages and supply chain issues, exacerbated by the Ukraine crisis. Soaring energy prices and slowing global markets also pressured the car industry, while supply chain disruptions in Ukraine, a major hub for automotive parts, has left many car makers scrambling to find alternative sources. UK car industry’s CEO calling for government relief akin to the kind given to energy-intensive industries such as steel to cope with surging electricity costs.
Japan Leading Economic Index Revised Lower
The index of leading economic indicators in Japan, which is a gauge of the economy a few months ahead and is compiled using data such as job offers and consumer sentiment, was revised lower to 100.8 in March of 2022, compared with the preliminary estimates of 101.0, and following a 100.1 a month earlier, amid worries about the pandemic’s impact in China and a prolonged Ukraine war.
Korea Raises Base Rate Again, Sees Higher Inflation
Bank of Korea raised its base rate by 25 bps to 1.75%, during its May meeting, being the third rate hike this year after a 25 bps increases in both January and April. governor and the board member raised further their 2022 inflation forecasts to 4.5% from an earlier projection of 3.1%, citing soaring oil prices and industrial products and adding it was necessary to conduct monetary policy with more emphasis on inflation for some time. BoK could consider big-step rate hike in coming months, depending on data. The board also cut 2022 growth outlook to 2.7% from 3%, amid a slowdown in exports.
Wall Street wobbles as tech disappointed report, Oil edges up
The 10-year government bond yield (interpolated) on the previous trading day was 2.93, -11.44 bps. The benchmark government bond yield (LB31DA) was 2.85, -12.00 bps. LB31DA could be between 2.70-2.90. Meantime, the latest closed US 10-year bond yields was 2.75%, -1.00 bps. USDTHB on the previous trading day closed around 34.21 Moving in a range from 34.21-34.33 this morning. USDTHB could be closed between 34.25-34.40 today. On Thursday, US stock futures wobbled as investors digested disappointing quarterly reports from the technology sector. WTI crude futures edged up toward $111 per barrel on Thursday, extending a cautious rally this week on signs of ongoing supply tightness
