- 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: 1,594.5 (+0.90%), 28 Jun 2022
- S&P 500 Index: 3,821.6 (-2.03%), 28 Jun 2022
- Thai 10-year government bond yield (interpolated) : 2.96% (+3.20 bps), 28 Jun 2022
- US 10-year treasury yield: 3.20 (+0.00bps), 28 Jun 2022
- Inflation saps U.S. consumer confidence; house prices remain elevated
- Japan May retail sales rise faster than expected as COVID curbs ease
- German consumer sentiment plunges to new record low
- Dollar falters as U.S. yields retreat amid recession risks
Inflation saps U.S. consumer confidence; house prices remain elevated
U.S. consumer confidence dropped to a 16-month low in June as worries about high inflation left consumers to anticipate that the economy would slow significantly or even slide into recession in the second half of the year. The Conference Board's consumer confidence index dropped 4.5 points to a reading of 98.7 this month, the lowest since February 2021. Consumers' assessment of current business and labor market conditions were little changed. But their short-term outlook for income, business and labor market conditions were the weakest since March 2013. Signs that house price inflation has probably peaked were reinforced by a report from the Federal Housing Finance Agency showing home prices increased 18.8% in the 12 months through April after accelerating 19.1% in March.
Japan May retail sales rise faster than expected as COVID curbs ease
Japanese retail sales rose for a third month in May, reinforcing views that strong consumption will lead an economic rebound this quarter, although rising inflation poses a risk to household spending for the rest of 2022.Retail sales rose 3.6% in May from a year earlier, government data showed on Wednesday. It followed an upwardly revised 3.1% increase in April and marked the third month of advancement since March, when the government lifted all coronavirus restrictions on face-to-face services nationwide. On a seasonally-adjusted month-on-month basis, retail sales advanced 0.6% in May, after a 1.0% growth in April.
German consumer sentiment plunges to new record low
German consumer sentiment is projected to fall to another record low in July, as the Ukraine war and interrupted supply chains push up energy and food prices even further, a survey showed on Tuesday. The GfK institute said its consumer sentiment index, based on a survey of around 2,000 Germans, dropped to -27.4 points heading into July after posting a short-lived recovery in June with a revised reading of -26.2 points.
Dollar falters as U.S. yields retreat amid recession risks
The 10-year government bond yield (interpolated) on the previous trading day was 2.97, +3.20 bps. The benchmark government bond yield (LB31DA) was 2.90, +1.00 bps. LB31DA could be between 2.85-2.95. Meantime, the latest closed US 10-year bond yields was 3.20%, +0.00bps. USDTHB on the previous trading day closed around 35.26 Moving in a range from 35.00-35.10 this morning. USDTHB could be closed between 34.80-35.10 today. The dollar slipped against most major peers on Wednesday as a decline in U.S. yields took some of the sheen off the currency, with investors mulling the risk of a recession from aggressive Federal Reserve rate hikes. The dollar index, which measures the greenback against six counterparts, eased 0.08% to 104.39, giving back some of its 0.53% rally overnight, spurred mainly by weakness in the euro
Sources : ttb analytics , Bloomberg, CNBC, Investing, CEIC
