- USDTHB : moving in the range 35.00 – 35.10 this morning, supporting level of USDTHB is around 35.00 resistance level is around 35.20
- SET Index: 1,603.0 (+0.19%), 14 Jun 2022
- S&P 500 Index: 3,735.5 (-0.38%), 14 Jun 2022
- Thai 10-year government bond yield (interpolated) : 3.13% (+4.80bps), 14 Jun 2022
- US 10-year treasury yield: 3.49 (+6.00bps), 14 Jun 2022
- U.S. fuel and trucking costs power producer inflation
- UK slowdown fears mount as GDP unexpectedly shrinks in April
- Japan's core machinery orders post surprise double-digit growth
- Yields hit decade highs before expected 75 bp Fed rate hike
U.S. fuel and trucking costs power producer inflation
U.S. producer prices increased solidly in May as the cost of gasoline surged, another sign of stubbornly high inflation that could force the Federal Reserve to raise interest rates as much as 75 basis points on Wednesday. The producer price index for final demand rose 0.8% last month after advancing 0.4% in April. A 1.4% jump in the prices of goods accounted for nearly two-thirds of the rise in the PPI. Goods prices, which rose 1.3% in April, were driven by soaring costs for energy products. Wholesale gasoline prices rebounded 8.4% after falling 3.0% in April, making up 40% of the rise in the costs of goods. In the 12 months through May, the PPI increased 10.8% after accelerating 10.9% in April.
UK slowdown fears mount as GDP unexpectedly shrinks in April
Britain's economy unexpectedly shrank in April, official figures showed on Monday, adding to fears of a sharp slowdown just three days before the Bank of England announces the scale of its latest interest rate response to the surge in inflation. Gross domestic product contracted by 0.3% after falling by 0.1% in March, the first back-to-back declines since April and March 2020, at the start of the coronavirus pandemic. Despite the slowdown, the BoE is expected to raise interest rates for the fifth time since December on Thursday to 1.25%.
Japan's core machinery orders post surprise double-digit growth
Japan's core machinery orders unexpectedly rose in April, at the fastest pace in 18 months, as business spending remained defiantly robust against higher energy prices and China's COVID-19 lockdowns. The surge in the closely watched barometer of business investment bodes well for Japan's corporate sector and the broader economy, which faces global inflation and a rapid yen decline to 24-year-lows. Core machinery orders, a highly volatile data series considered an early indicator of capital expenditure, grew 10.8% in April from the previous month, marking the biggest monthly growth since October 2020.
Yields hit decade highs before expected 75 bp Fed rate hike
The 10-year government bond yield (interpolated) on the previous trading day was 3.13, +4.80 bps. The benchmark government bond yield (LB31DA) was 3.05, +0.00 bps. LB31DA could be between 3.00-3.10. Meantime, the latest closed US 10-year bond yields was 3.49%, +6.00bps. USDTHB on the previous trading day closed around 34.95 Moving in a range from 35.00-35.10 this morning. USDTHB could be closed between 34.90-35.20 today. U.S. Treasury yields climbed to their highest levels in a decade on Tuesday as investors raised bets that the Federal Reserve will hike rates by 75 basis points when it concludes its two-day meeting. Two-year Treasury note yields reached 3.439%, the highest since Nov. 2007. Benchmark 10-year notes hit 3.475%, the highest since April 2011.
