- USDTHB: moving in the range 36.15-36.35 this morning, supporting level of USDTHB is around 36.15 resistance level is around 36.30
- SET Index: 1,576.4 (+1.48%), 27 Jul 2022
- S&P 500 Index: 4,130.3 (+1.41%), 29 Jul 2022
- Thai 10-year government bond yield (interpolated): 2.58% (-0.13 bps), 27 Jul 2022
- US 10-year treasury yield: 2.67 (-1.00 bps), 29 Jul 2022
- The Eurozone economy expanded 0.7% on quarter
- Euro Area Inflation rate unexpectedly accelerates
- China's July factory activity grows at slower pace
- Asia shares got hit by China’s data, US stock slipped, Brent declined
The Eurozone economy expanded 0.7% on quarter The Eurozone economy expanded 0.7% on quarter in the three months to June of 2022, following a downwardly revised 0.5% growth in Q1 and beating market forecasts of a 0.2% gain. The positive momentum prompted by the easing of covid restrictions and the summer tourism season in southern countries. Spain, Italy and France grew by 1.1%, 1% and 0.5% respectively, while the German economy stalled and some countries including Portugal (-0.2%), Lithuania (-0.4%) and Latvia (-1.4%) already contracted, a worrying sign that a recession may be right on the corner. At the same time, the energy crisis and the war in Ukraine are far from over, and natural gas cuts from Russia threaten the outlook for the winter, further pressuring the inflation and consequently interest rates.
Euro Area Inflation rate unexpectedly accelerates Annual inflation rate in the Euro Area increased to a new record high of 8.9% in July of 2022 from 8.6% in June, preliminary estimates showed. Figures topped market expectations of 8.6%, as prices continued to accelerate for food, alcohol & tobacco (9.8% vs 8.9% in June); non-energy industrial goods (4.5% vs 4.3%), and services (3.7% vs 3.4%) but eased slightly for energy (39.7% vs 42%). Excluding energy, inflation also increased to 5.4% from 4.9% and the core index which excludes cost of energy, food, alcohol & tobacco advanced to 4% from 3.7%. Compared to the previous month, consumer prices were up 0.1%.
China's July factory activity grows at slower pace The Caixin/Markit manufacturing purchasing managers' index (PMI) eased to 50.4 in July from 51.7 in the previous month. The reading was well below analysts' expectations for a slight dip to 51.5 and it revealed that China's factory activity expanded at a slower pace in July. Growth in the sub-index of new orders, domestic and export softened due to muted demand and the lingering impact of COVID-19 on client spending. Meanwhile, an index for employment at Chinese manufacturers fell for the fourth month in a row and dived to the lowest in 27 months, reflecting continued labour market weakness. In one bright note, companies' input costs rose only slightly. However, they had to cut their selling prices for the third month in a row due to soft demand.
Asia shares got hit by China’s data, US stock slipped, Brent declined The 10-year government bond yield (interpolated) on the previous trading day was 2.58, -0.13 bps. The benchmark government bond yield (LB31DA) was 2.50, +2.00 bps. LB31DA could be between 2.45-2.55. Meantime, the latest closed US 10-year bond yields was 2.67, -1.00 bps. USDTHB on the previous trading day closed around 36.82 Moving in a range of 36.15-36.35 this morning. USDTHB could be closed between 36.15-36.30 today. Asian shares on Monday got impact from disappointing Chinese economic data. US stock futures slipped after major averages capped off their best month since 2020 since investors look ahead to key economic data and more earning reports. Brent declined toward $103 barrel on Monday as weakening global demand outlook.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
