· USDTHB: moving in the range 36.86-36.96 this morning, supportive level at 36.80 resistance level at 37.00
· SET Index: 1,631.6 (+0.07%), 19 Sep 2022
· S&P 500 Index: 3,899.9 (+0.68%), 19 Sep 2022
· Thai 10-year government bond yield (interpolated): 2.95 (-0.37 bps), 19 Sep 2022
· US 10-year treasury yield: 3.49 (+4.00 bps), 19 Sep 2022
- IMF sees further global economic slowdown in third quarter
- U.S. weekly jobless claims fall for fifth-straight week
- China retail sales exceed market expectation in August
- Stock wavered throughout the session, await this week’s Fed meeting
IMF sees further global economic slowdown in third quarter
IMF spokesman, Gerry Rice, said that high-frequency data pointed to a further loss of momentum in the third quarter, given continued high inflation, supply chain problems and tighter financial market conditions, but gave no details on any further revisions to the International Monetary Fund's outlook. The IMF in July revised down global growth to 3.2% in 2022 and 2.9% in 2023. It will release a new outlook next month. It was also pointed out that a continuing COVID-19 lockdown and real estate issues were weighing on economic activity in China, while the strengthening dollar had implications for many countries.
U.S. weekly jobless claims fall for fifth-straight week
According to Labor Department data released on September 15, the number of first-time claims for unemployment benefits fell again last week, setting a new three-month low and showing that employers are still reluctant to let go of workers despite some economic slowing. Initial claims for unemployment insurance were 213,000 for the week ended September 10, down 5,000 from a downwardly revised total of 218,000 claims from the prior week, the lowest level since May 28. Continuing jobless claims for the week ended September 3 were 1.4 million, an increase of 2,000 from the previous week’s level, which was revised downward by 72,000 claims.
China retail sales exceed market expectation in August
According to National Bureau of Statistics of China, retail trade rose by 5.4%yoy in August 2022, above market estimates of 3.5% and accelerating from a 2.7%yoy compared to a month earlier. This was the third-straight month of increase in retail trade and the strongest pace in six months, as consumption strengthened following further relaxation in COVID curbs. Sales growth quickened for both automobiles and oil products, amid a sharp rebound in sales of clothing and a further rise in sales of both office supplies and home appliances. In contrast, there were falls in sales of cosmetics, furniture, telecoms, and building materials. Considering the first eight months of 2022, China’s retail sales were up 0.5%.
Stock wavered throughout the session, await this week’s Fed meeting
The 10-year government bond yield (interpolated) on the previous trading day was 2.95, -0.37 bps. The benchmark government bond yield (LB31DA) was 2.79, -1.00 bps. LB31DA could be between 2.73-2.83. Meantime, the latest closed US 10-year bond yields was 3.49, +4.00 bps. USDTHB on the previous trading day closed around 37.00 Moving in a range of 36.86-36.96 this morning. USDTHB could be closed between 36.80-37.00 today. Stock wavered between gains and losses throughout the session, with the 30-stock index down as much as 263 points earlier in the day. The S&P 500 and Nasdaq shed more than 0.9% each. European markets were lower; Germany’s DAX was 0.3% lower in early-morning trade, France’s CAC40 slipped 0.85% and Italy’s FTSE MIB also fell around 0.7%. Spain’s IBEX 35 was trading 0.2% lower.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
