- USDTHB: moving in the range 37.97-38.07 this morning, supportive level at 38.00 resistance level at 38.46
· SET Index: 1,600.7 (-0.59%), 25 Oct 2022
· S&P 500 Index: 3,859.1 (+1.61%), 25 Oct 2022
· Thai 10-year government bond yield (interpolated): 3.29 (-2.88 bps), 25 Oct 2022
· US 10-year treasury yield: 4.10 (-15.0 bps), 25 Oct 2022
- US home price growth slows in August, surveys show
- Australia CPI inflation hits 32-year high in Q3
- China’s Q4 GDP hits early speed bump as COVID stifles economy
- Oil slips on unexpected US inventory build, Saudis limit losses
US home price growth slows in August, surveys show US single-family home prices fell sharply on a monthly basis in August as surging mortgage rates dampened demand for housing, closely watched surveys showed on Tuesday. The S&P CoreLogic Case Shiller national home price index dropped 0.9% on a seasonally adjusted basis after slipping 0.5% Monthly house prices decreased in July for the first time since late 2018. House prices increased 13.0% on a year-over-year basis in August, slowing from July's rise of 15.6%. The cooling house price inflation was underscored by a separate report from the Federal Housing Finance Agency showing home prices increased 11.9% in the 12 months through August after rising 13.9% in July. Prices fell 0.7% on a monthly basis.
Australia CPI inflation hits 32-year high in Q3 Australian inflation rose more than expected in the September quarter, hitting a 32-year high and likely inviting more interest rate hikes by the Reserve Bank to control rising price pressures. The Consumer Price Index rose 1.8% in the three months to September 30 from the prior quarter, data from the Australian Bureau of Statistics (ABS) showed on Wednesday. The reading was higher than expectations for a rise of 1.6% and remained steady from last quarter’s figure of 1.8%. On an annualized basis, CPI inflation rose 7.3% as of the quarter-end, more than expectations for growth of 7.3% and the previous quarter’s reading of 6.1%. The reading was also Australia’s fastest growth in annual inflation since 1990.
China’s Q4 GDP hits early speed bump as COVID stifles economy China’s economic growth is hitting an early speed bump in the fourth quarter as COVID-19 curbs and anxieties further tapped the brakes on travel and shipping, constraining consumption and commerce in the world’s second-largest economy. Mobility statistics – from metro passenger traffic in cities and flight cancellations to domestic container handling at major ports – have worsened in October despite falling local coronavirus cases, suggesting COVID-19 preventive measures, or fear of those measures, are still stifling economic activity. China reported on Monday a faster-than-expected 3.9% expansion in its economy in the third quarter, but data for September showed weak imports of goods and retail sales, reflecting its still subdued domestic demand.
Oil slips on unexpected US inventory build, Saudis limit losses The 10-year government bond yield (interpolated) on the previous trading day was 3.29, -2.88 bps. The benchmark government bond yield (LB31DA) was 3.25, -8.0 bps. LB31DA could be between 3.15-340. Meantime, the latest closed US 10-year bond yields was 4.10, -15.0 bps. USDTHB on the previous trading day closed around 38.23 Moving in a range of 37.97-38.07 this morning. USDTHB could be closed between 37.90-38.30 today. Oil prices fell on Wednesday after data indicated that U.S. crude inventories grew more than expected last week, although signs of robust gasoline demand and a warning on tighter supplies from Saudi Arabia kept losses in check. American Petroleum Institute (API) data on Tuesday showed that U.S. crude inventories grew by 4.5 million barrels in the week to October 21, more than expectations for a build of 200,000 barrels. While the reading likely reflects drawdowns from the Strategic Petroleum Reserve (SPR), it also signals a near-term surplus in oil supply, which is negative for prices.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
