- USDTHB : moving in the range 34.40 – 34.50 this morning, supporting level of USDTHB is around 34.20 resistance level is around 34.50/34.70
- SET Index: 1,631.9 (-0.86%), 7 Jun 2022
- S&P 500 Index: 4,160.7 (+0.95%), 7 Jun 2022
- Thai 10-year government bond yield (interpolated) : 3.00% (+1.20bps), 7 Jun 2022
- US 10-year treasury yield: 2.98 (-6.00bps), 7 Jun 2022
- U.S. Imports Fell for First Time in Nine Months in April, Amid Destocking
- UK businesses feel the strain from surging inflation
- German Factory Orders Fall for Third Straight Month in April
- Yen slides as Europe braces for rate hikes
U.S. Imports Fell for First Time in Nine Months in April, Amid Destocking
Imports into the U.S. fell in April for the first time in nine months, amid signs that slowing demand from consumers is leaving final sellers of goods with too much inventory. Imports of goods fell by $13 billion to $283.8 billion, with consumer goods accounting for half of that decline. Imports from China alone fell by $10.1 billion, in part, a reflection of growing problems in shipping products out of Shanghai, which entered a two-month stop-start period of lockdown in the month. Exports, meanwhile, held up better, rising 3.5% on the month to $252.6 billion. Exports of natural gas and petroleum products both rose, as European buyers increasingly turned to the U.S. for alternatives to Russian energy supplies in the wake of Russia's invasion of Ukraine.
UK businesses feel the strain from surging inflation
Growth among British businesses slowed sharply in May to its weakest since early 2021 when the country was under a COVID-19 lockdown, according to a survey, although the loss of momentum was less severe than initially reported. The composite S&P Global/CIPS Purchasing Managers Index - spanning services and manufacturing firms - slumped to 53.1 from 58.2 in April, the lowest since February 2021, as Britain's economy felt the hit from accelerating inflation. May's figures painted a picture of slower growth and higher prices across the services sector with input and output costs rising by the most since records began in 1996.
German Factory Orders Fall for Third Straight Month in April
The Eurozone’s largest economy looks set for at least one quarter of economic contraction after incoming orders to German factories fell for a third month in a row in April. Orders fell by 2.7% on the month, following on from declines of 4.2% and 0.8% in the previous two months. The figures are the latest evidence of a sharp slowdown in Germany in response to Russia’s invasion of Ukraine, which has triggered steep rises in energy costs. Producer price inflation is now running at an annual rate of 33.5%, largely due to the fact that gas prices have risen by over 150% in the last year, while industrial electricity prices have risen by nearly 90%.
Yen slides as Europe braces for rate hikes
The 10-year government bond yield (interpolated) on the previous trading day was 3.00, +1.20 bps. The benchmark government bond yield (LB31DA) was 2.86, -4.00 bps. LB31DA could be between 2.82-2.92. Meantime, the latest closed US 10-year bond yields was 2.98%, -6.00bps. USDTHB on the previous trading day closed around 34.46 Moving in a range from 34.40-34.50 this morning. USDTHB could be closed between 34.40-34.60 today. The yen hit a fresh 20-year low versus the dollar on Wednesday and slipped to a seven-year trough against the euro as traders awaited a European Central Bank meeting likely to leave Japan alone among peers in sticking to ultra easy monetary policy. The ECB meets on Thursday and markets are expecting it to at least lay the groundwork for rapid rate rises, if not begin them with a small hike.
