- USDTHB: moving in the range 35.29-35.63 this morning, supporting level of USDTHB is around 35.50 resistance level is around 35.80
- SET Index: 1,617.2 (-0.10%), 10 Aug 2022
- S&P 500 Index: 4,210.2 (+2.11%), 10 Aug 2022
- Thai 10-year government bond yield (interpolated): 2.48 (-3.50 bps), 10 Aug 2022
- US 10-year treasury yield: 2.78 (-2.00 bps), 10 Aug 2022
- U.S. Consumer Price Index eased slightly to 8.5% in July on lower petrol prices
- Russia’s natural gas pipeline exports to Europe decline to almost 40-year lows
- Japan producer prices rose the least in 7 months
- Stock indices jumped sharply after the latest U.S. inflation data shown
U.S. Consumer Price Index eased slightly to 8.5% in July on lower petrol prices The U.S. Bureau of Labor Statistics reported that the U.S. Consumer Price Index (CPI) rose by 8.5%YoY in July, compared with 9.1%YoY the month earlier, as inflationary pressures eased on the back of lower petrol prices. The gasoline index fell 7.7%YoY and offset increases in the food and shelter indexes, resulting in the all-items index being unchanged over the month. The energy index fell 4.6%YoY over the month as the indexes for gasoline and natural gas declined. However, the food index continued to rise, increasing 1.1%YoY as the food at home index rose 1.3%YoY. On the other hand, the core inflation rose 5.9%YoY or 0.3%MoMsa in July, a smaller increase compared to last three-consecutive months. There were some indexes that declined in July, including those for airline fares, used cars and trucks, communication, and apparel.
Russia’s natural gas pipeline exports to Europe decline to almost 40-year lows Russia’s natural gas exports by pipeline to the EU and the UK declined by almost 40%YoY during the first seven-months of 2022 and dropped by almost 50% compared with the previous five-year (2017–21) average, according to data from Refinitiv Eikon. In mid-July 2022, exports declined to 1.2 billion cubic feet per day (Bcf/d), the lowest level in nearly 40 years. According to Eurostat, Russia had accounted for about one-third of the EU’s and the UK’s supply of natural gas via pipeline between 2016 and 2020. The most significant decline in Russia’s exports has been into Germany via the Nord Stream 1 pipeline. Exports on Nord Stream 1 declined to 1.4 Bcf/d in July, only 20% of its design capacity of 5.6 Bcf/d. Russia’s deliveries to Germany (via Belarus and Poland) at Mallnow also declined significantly, starting in October 2021.
Japan producer prices rose the least in 7 months The producer price index (PPI) in Japan rose by 8.6%YoY in July, following an upwardly revised 9.4%YoY in the prior month. Amid signs that inflationary pressure from higher material costs was easing, cost of iron & steel rose 27.2%, the same as in June; while those of beverages & foods went up faster (5.5% in July vs 4.6% in June), as did transportation equipment (3.4% vs 3.3%), metal products (11.1% vs 10.9%), other manufacturing (3.9% vs 3.7%), and general-purpose machinery (2.1% vs 1.7%). Meantime, prices softened for chemicals (10.9% in July vs 13.0% in June), petroleum & coal (14.7% vs 21.8%), electrical machinery (2.4% vs 2.6%), non-ferrous metals (9.8% vs 16.2%), and business-oriented machinery (flat reading vs 0.4%).
Stock indices jumped sharply after the latest U.S. inflation data shown The 10-year government bond yield (interpolated) on the previous trading day was 2.48, -3.50 bps. The benchmark government bond yield (LB31DA) was 2.43, -5.0 bps. LB31DA could be between 2.35-2.45. Meantime, the latest closed US 10-year bond yields was 2.78, -2.00 bps. USDTHB on the previous trading day closed around 35.57 Moving in a range of 35.29-35.63 this morning. USDTHB could be closed between 35.50-35.80 today. The deceleration in the U.S. inflation for July is likely a big relief for investors. The European STOXX600 index bounce 0.9% and closing its best session in nearly two weeks. That was the similar trend as in DJIA jumped around 1.6%, the S&P 500 gained roughly 2%, hit its highest level since early May, while Nasdaq Composite rose 2.5%.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
