- USDTHB: moving in the range 35.73-35.82 this morning, supporting level of USDTHB is around 35.74 resistance level is around 35.90
- SET Index: 1,601.1 (+0.15%), 5 Aug 2022
- S&P 500 Index: 4,145.2 (-0.16%), 5 Aug 2022
- Thai 10-year government bond yield (interpolated): 2.48 (-3.30 bps), 5 Aug 2022
- US 10-year treasury yield: 2.83 (+15.00 bps), 5 Aug 2022
- U.S. labor market powers ahead with strong job gains despite recession fears
- US Wages rise More than Expected
- China’s exports beat expectation, causing Trade Surplus hits New High
- US Futures Slip as surprising US job reports, China Stocks edge up on strong export data
U.S. labor market powers ahead with strong job gains despite recession fears The US economy added 528K jobs in July of 2022, much better than market forecasts of 250K and above an upwardly revised 398K in June. The biggest job gains occurred in leisure and hospitality (96K), particularly in food services and drinking places (74K). Total nonfarm employment has increased by 22.0 million since hitting a trough in April 2020 and has returned to the pre-pandemic level. Private-sector employment is 629K higher than in February 2020, although several sectors have yet to recover. On the other hand, government employment is still 597K lower than its pre-pandemic level. Together with continuing wage growth, the signs of persistent labor market strength give the Federal Reserve ammunition to more likely to deliver another 75 bps hike this month.
US Wages rise More than Expected Average hourly earnings for all employees on private nonfarm payrolls in the US rose by 15 cents, or 0.5%, to $32.27 in July of 2022, following an upwardly revised 0.4% gain in the prior month and above market estimates of a 0.3% increase. In July, average hourly earnings of private-sector production and nonsupervisory employees rose by 11 cents, or 0.4 percent, to $27.57. Over the past 12 months, average hourly earnings have increased by 5.2%, the same pace as in June and above market forecasts of a 4.9% rise.
China’s exports beat expectation, causing Trade Surplus hits New High China's exports unexpectedly increased by 18% yoy to a seven-month high of USD 332.96 billion in July of 2022, beating market forecasts of 15% and following a 17.9% rise a month earlier. It was the biggest growth in shipments since January, as logistic issues continued to ease amid a further relaxation of COVID-19 restrictions. Accordingly, China's trade surplus unexpectedly surged to a fresh record peak of USD 101.26 billion in July 2022 from USD 55.89 billion in the same month a year earlier, far above market forecasts of USD 90 billion, mainly boosted by that jump in exports. Shipments climbed 18% yoy, the most in six months; while imports grew much slower at 2.3%. For the January to July period, the trade surplus was at USD 482.3 billion.
US Futures Slip as surprising US job reports, China Stocks edge up on strong export data The 10-year government bond yield (interpolated) on the previous trading day was 2.48, -3.30 bps. The benchmark government bond yield (LB31DA) was 2.38, -6.0 bps. LB31DA could be between 2.32-2.43. Meantime, the latest closed US 10-year bond yields was 2.83, +15.00 bps. USDTHB on the previous trading day closed around 35.65 Moving in a range of 35.73-35.82 this morning. USDTHB could be closed between 35.74-35.90 today. US stock futures slipped on Monday as investors digested a surprisingly strong monthly jobs report released late last week, while markets turned their focus to a key inflation report this week for more clues on the Federal Reserve’s next policy move. The Shanghai Composite rose 0.2% to above 3,230 while the Shenzhen Component edged up 0.15% to 12,288 on Monday, rising for the third straight session as Chinese trade data released over the weekend surprised markets to the upside, raising hopes for an economic rebound.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
