- USDTHB : moving in the range 34.10 – 34.20 this morning, supporting level of USDTHB is around 34.00 resistance level is around 34.30
- SET Index: 1,653.6 (+0.90%), 30 May 2022
- S&P 500 Index: 4,158.2 (+2.44%), 27 May 2022
- Thai 10-year government bond yield (interpolated) : 2.92% (+1.98bps), 30 May 2022
- US 10-year treasury yield: 2.74 (-1.00bps), 27 May 2022
- European Union Pledges to Curb Oil Purchases From Russia
- China's factory activity falls at slower pace as COVID curbs ease
- Japan's April factory output slumps in worrying sign for economy
- Euro edges down but set for largest monthly gain in a year
European Union Pledges to Curb Oil Purchases From Russia
European Union leaders said for the first time that they would impose an oil embargo on Russia over its invasion of Ukraine, taking a big step forward in an economic fight against Moscow that is already reverberating in global markets. The embargo would include an exemption for oil delivered from Russia via pipelines, an amount that makes up one-third of EU oil purchases from Russia. EU officials said that by the end of this year, the embargo would cover 90% of previous Russian oil imports. It would be phased in over several months. Oil prices rose on Tuesday after the news. Brent crude futures for July, which expires on Tuesday, gained 33 cents to $122 a barrel.
China's factory activity falls at slower pace as COVID curbs ease
China's factory activity contracted at a slower pace in May as COVID-19 curbs in major manufacturing hubs were relaxed, but movement controls still depressed domestic demand, restrained production and weighed on the economy in the second quarter. The official manufacturing Purchasing Managers' Index (PMI) rose to 49.6 in May from 47.4 in April, the National Bureau of Statistics (NBS) said on Tuesday, marking the highest in three months but also the third consecutive contraction. Though restrictions implemented in the major manufacturing hubs of Shanghai and in the northeast eased in May, analysts said the resumption in output was slow, restrained by sluggish domestic consumption and softening global demand.
Japan's April factory output slumps in worrying sign for economy
Japan's factories posted a sharp fall in output in April as China's COVID-19 lockdowns and wider supply disruptions took a heavy toll on manufacturers, clouding the outlook for the trade-reliant economy. However, retail sales grew 2.9% in April from a year earlier as consumers stepped up spending after the government eased pandemic curbs, withstanding pressure from wider price rises that threaten to hurt demand. Factory output dropped 1.3% in April from the previous mont on sharp falls in the production of items such as electronic parts and production machinery.
Euro edges down but set for largest monthly gain in a year
The 10-year government bond yield (interpolated) on the previous trading day was 2.92, +1.98 bps. The benchmark government bond yield (LB31DA) was 2.81, -2.00 bps. LB31DA could be between 2.92-3.02. Meantime, the latest closed US 10-year bond yields was 2.74%, -1.00bps. USDTHB on the previous trading day closed around 34.08 Moving in a range from 34.10-34.20 this morning. USDTHB could be closed between 34.10-34.30 today. The euro gave back some of its recent gains on Tuesday, but was still set for its best month in a year as markets reposition in anticipation of interest rate increases in Europe and the possibility of a slower pace of U.S. rate hikes. The euro is also set for a 2.2% gain in May, which would be its biggest monthly rise in a year.
