- USDTHB : moving in the range 34.55 – 34.65 this morning, supporting level of USDTHB is around 34.50 resistance level is around 34.70
- SET Index: 1,641.3 (+0.27%), 9 Jun 2022
- S&P 500 Index: 4,017.8 (-2.41%), 9 Jun 2022
- Thai 10-year government bond yield (interpolated) : 2.93% (-0.60bps), 9 Jun 2022
- US 10-year treasury yield: 3.04 (+1.00bps), 9 Jun 2022
- China's exports surge on easing COVID curbs, trade outlook still fragile
- Weak yen pushes up Japan's wholesale import costs at record pace
- ECB to raise interest rates, end net asset purchases in July
- Dollar gains ahead of inflation data, euro falls after ECB
China's exports surge on easing COVID curbs, trade outlook still fragile
China's exports grew at a double-digit pace in May, shattering expectations in an encouraging sign for the world's second biggest economy, as factories restarted and logistics snags eased after authorities relaxed some COVID curbs in Shanghai. Outbound shipments in May jumped 16.9% from a year earlier, the fastest growth since January this year, and more than double analysts' expectations for a 8.0% rise. Exports were up 3.9% in April. Imports also expanded for the first time in three months, providing welcome relief to Chinese policy makers as they try to chart an economic path out of the supply-side shock that has rocked global trade and financial markets in recent months. imports rose 4.1% in May from a year earlier, the first gain in three months, driven by easing logistics bottlenecks and imports of raw materials and intermediate goods as domestic production resumed.
Weak yen pushes up Japan's wholesale import costs at record pace
Japan's wholesale inflation moderated in May but yen-based import prices surged at a record annual pace, data showed on Friday, a sign the currency's sharp decline was adding to strain for the economy heavily reliant on commodity imports. The corporate goods price index (CGPI), which measures the price of goods companies charge each other, rose 9.1% in May from a year earlier. The yen-based imported goods prices surged 43.3% in May from a year earlier, the fastest pace of gain since comparable record became available in January 1981.
ECB to raise interest rates, end net asset purchases in July
The European Central Bank (ECB) said on Thursday it will increase its key interest rates by 0.25 percentage points at its July monetary policy meeting. In a statement, the bank said that it will also end net asset purchases under its asset purchase program (APP) as of July 1, putting an end to its economic stimulus scheme in the face of inflationary pressures.The bank also decided to leave the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility unchanged.
Dollar gains ahead of inflation data, euro falls after ECB
The 10-year government bond yield (interpolated) on the previous trading day was 2.93, -0.60 bps. The benchmark government bond yield (LB31DA) was 2.83, +0.00 bps. LB31DA could be between 2.78-2.87. Meantime, the latest closed US 10-year bond yields was 3.04%, +1.00bps. USDTHB on the previous trading day closed around 34.52 Moving in a range from 34.55-34.65 this morning. USDTHB could be closed between 34.50-34.80 today. The dollar index rose for a second straight day on Thursday, erasing initial declines while the euro turned lower after the latest policy announcement by the European Central Bank (ECB), which signaled the bank was set to begin raising interest rates.
