- USDTHB: moving in the range 36.17-36.26 this morning, supporting level of USDTHB is around 36.20 resistance level is around 36.25
- SET Index: 1,594.7 (+0.35%), 3 Aug 2022
- S&P 500 Index: 4,155.2 (+1.55%), 3 Aug 2022
- Thai 10-year government bond yield (interpolated): 2.52 (+1.88 bps), 3 Aug 2022
- US 10-year treasury yield: 2.73 (-2.00 bps), 3 Aug 2022
- Oil prices slid to almost six-month low as U.S. oil inventories unexpectedly surged
- EU unemployment rate dropped in June amid weakening economy
- China restricts trade with Taiwan over Pelosi trip
- U.S-China tensions trigger Dollar rebound
Oil prices slid to almost six-month low as U.S. oil inventories unexpectedly surged The Energy Information Administration (EIA) reported that U.S. crude oil inventories rose unexpectedly last week as exports fell and refiners lowered runs, while gasoline stocks also posted a surprise build as demand. Crude stocks rose 4.5 million barrels last week, compared with an analyst forecast for a draw of 600,000 barrels. Gasoline stocks gained 200,000 barrels, versus expectations for a 1.6-million-barrel drop. Also, OPEC+ stated that it would raise its oil output target by 100,000 barrels per day, it dimed oil price about 4% on Wednesday (Aug 3) to almost six-month lows, lowest since Russia-Ukraine conflict recurrence in February 2022.
EU unemployment rate dropped in June amid weakening economy The Eurostat released data on Monday, showing that EU unemployment rate in June was down to 6% from 7.2%, while in the eurozone, which is composed of EU countries that only use the euro as their national currency, levels declined to 6.6% from 7.9%. The statistics office estimates that more than 12.9 million men and women in the EU, of whom more than 10.9 million are in the eurozone area, were unemployed in June. Compared with June last year, unemployment in the EU decreased by more than 2.3 million in the EU and in the euro zone, by more than 1.95 million.
China restricts trade with Taiwan over Pelosi trip China’s General Administration of Customs stating that the announcements come as Pelosi conducts a high-profile visit to Taiwan despite Beijing warning of “serious consequences” should the veteran Democratic politician make the trip. The trade measures follow a notice by China’s customs agency that it had blacklisted more than 100 Taiwanese food brands for failing to renew their export registration. Also, the food imports were halted in some shipments, while the sand exports had suspended in line with unspecified legal provisions.
U.S-China tensions trigger Dollar rebound The 10-year government bond yield (interpolated) on the previous trading day was 2.52, +1.88 bps. The benchmark government bond yield (LB31DA) was 2.42, +2.00 bps. LB31DA could be between 2.40-2.44. Meantime, the latest closed US 10-year bond yields was 2.73, -2.00 bps. USDTHB on the previous trading day closed around 36.25 Moving in a range of 36.17-36.26 this morning. USDTHB could be closed between 36.20-36.25 today. The dollar index recovered 1%, although it did fade slightly from peak levels, as fears of an escalation in U.S.-China tensions drove safe-haven demand for the greenback. Stocks slumped as investors weighed on the U.S. dollar and the rise in real U.S. bond yields.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
