- USDTHB : moving in the range 34.35 – 34.45 this morning, supporting level of USDTHB is around 34.30 resistance level is around 34.50
- SET Index: 1,660.0 (-0.20%), 1 Jun 2022
- S&P 500 Index: 4,101.2 (-0.75%), 1 Jun 2022
- Thai 10-year government bond yield (interpolated) : 2.95% (+0.00bps), 1 Jun 2022
- US 10-year treasury yield: 2.94 (+9.00bps), 1 Jun 2022
- U.S. manufacturing sector regains speed in May
- U.S. Layoffs Hit All-Time Low in April as Job Openings Edge Down
- May European Manufacturing Growth Slowest Since Early 2021
- Rising U.S. yields pushed Dollar higher
U.S. manufacturing sector regains speed in May
U.S. manufacturing activity picked up in May as demand for goods remains strong, which could further allay fears of an imminent recession, but a measure of factory employment contracted for the first time in nearly a year. The Institute for Supply Management (ISM) said on Wednesday that its index of national factory activity rebounded to a reading of 56.1 last month from 55.4 in April. Demand for goods remains resilient even as spending is shifting back to services like travel, dining out and recreation. Goods spending surged as the COVID-19 pandemic restricted movement.
U.S. Layoffs Hit All-Time Low in April as Job Openings Edge Down
The number of layoffs across the U.S. economy hit an all-time low in April, as companies hoarded labor to cope with the upswing in the economy after the end of the wave of Omicron-wave COVID-19 over the winter. The Labor Department said that layoffs fell by 170,000 to a series low of 1.2 million in the month, with the sharpest drops coming in professional and business services. The monthly Job Openings and Labor Turnover Survey also showed the number of vacancies across the U.S. stayed close to record highs at 11.40 million in April.
May European Manufacturing Growth Slowest Since Early 2021
Manufacturing activity in Europe was at its slowest since early last year in May, according to business surveys published by S&P Global, while other numbers showed German retail sales falling sharply in real terms and U.K. house prices continuing to rise at an unsustainable pace. S&P's purchasing managers index for both the Eurozone and the U.K. fell to 54.6, as supply chain problems, skills shortages, and sharply rising energy prices all took their toll. For the Eurozone, the reading was the lowest since the end of 2020, while for the U.K., it was the lowest since February 2021. For the Eurozone, at least, the final figure was slightly better than the 54.4 originally reported.
Rising U.S. yields pushed Dollar higher
The 10-year government bond yield (interpolated) on the previous trading day was 2.95, +0.00 bps. The benchmark government bond yield (LB31DA) was 2.86, +1.00 bps. LB31DA could be between 2.83-2.98. Meantime, the latest closed US 10-year bond yields was 2.94%, +9.00bps. USDTHB on the previous trading day closed around 34.33 Moving in a range from 34.35-34.45 this morning. USDTHB could be closed between 34.30-34.60 today. The dollar hit a three-week high against the yen in early trade on Thursday and was holding firm against other majors, supported by rising U.S. Treasury yields, which hit two-week peaks overnight.
The dollar rose as far as 130.23 yen, its highest since May 11, extending Wednesday's 1.1% gain and heading back towards its 20-year peak of 131.34 hit in May.
