- USDTHB: moving in the range 36.39-36.48 this morning, supportive level at 36.00 resistance level at 36.50
- SET Index: 1,654.6 (+0.89%), 9 Sep 2022
- S&P 500 Index: 4,067.4 (+2.17%), 9 Sep 2022
- Thai 10-year government bond yield (interpolated): 2.77 (-0.28 bps), 9 Sep 2022
- US 10-year treasury yield: 3.33 (+4.00 bps), 9 Sep 2022
- US household wealth suffers record drop in second quarter
· Japan trade deficit in August seen at near nine-year high as weak yen boosts imports
· China CPI slows in August, producer price inflation at 19-month low
· Dollar slides as investors balance positions ahead of U.S. inflation data
US household wealth suffers
record drop in second quarter
U.S. household wealth fell by a record $6.1 trillion in the
second quarter to its lowest in a year as a bear market in stocks far
outweighed further gains in real estate values,
a Federal Reserve report showed on Friday. Household net worth tumbled to $143.8
trillion at the end of June from $149.9 trillion at the end of March, its
second consecutive quarterly decline. Through June, Americans' collective
wealth had fallen by more than $6.2 trillion from a record $150 trillion at the
end of 2021. The net drop in wealth in the second quarter was about $30 billion
larger than the previous record decline notched two years earlier, as the onset
of the COVID-19 pandemic upended financial markets.
Japan trade deficit in August seen at near nine-year high as weak yen boosts imports Japan likely recorded its biggest trade deficit in nearly nine years in August as the yen's plunge to 24-year-lows swelled import costs. The sharp slump in the yen has triggered fresh verbal warnings from Japanese policymakers this week, while economists have said the currency depreciation could push Japan's core inflation to around 3% by year-end, squeezing households' purchasing power. The August trade balance likely ended in a deficit of 2.398 trillion yen ($16.80 billion) because a 46.7% surge in imports outstripped a 23.6% rise in exports, the economists' median estimate in the poll showed. The expected shortfall would mark the biggest monthly record since the 2.790 trillion yen deficit in January 2014.
China CPI slows in August, producer price inflation at 19-month low Chinese consumer and producer price inflation fell in August, as a new round of COVID-19 restrictions and a power shortage further weighed on economic activity. The country’s annual consumer price index fell to 2.5% in August from 2.7% in the prior month, data from the National Bureau of Statistics showed. The reading also missed expectations for a mild rise of 2.8%, and is now further away from the government’s target of 3%. The decline in inflation comes as China introduced new curbs in economic hubs Shenzhen and Chengdu, amid a fresh outbreak of COVID-19 cases in the two cities. Producer price inflation fared even worse in the country. The annual producer price index shrank to 2.3% in August from 4.2% in the prior month, and was well below expectations of 3.1% - its lowest level since March 2021.
Dollar slides as investors balance positions ahead of U.S. inflation data The 10-year government bond yield (interpolated) on the previous trading day was 2.77, -0.28 bps. The benchmark government bond yield (LB31DA) was 2.60, -3.0 bps. LB31DA could be between 2.62-2.72. Meantime, the latest closed US 10-year bond yields was 3.33, +4.00 bps. USDTHB on the previous trading day closed around 36.31 Moving in a range of 36.39-36.48 this morning. USDTHB could be closed between 36.33-36.45 today. The dollar fell to a more than one-week low on Friday as investors consolidated gains after a sharp rise against most currencies, ahead of a U.S. inflation report that could determine the size of the Federal Reserve's rate hike at this month's policy meeting. the dollar index dropped as low as 108.35 and was last down 0.5% at 108.96.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
