- USDTHB: moving in the range 36.78-36.86 this morning, supportive level at 36.75 resistance level at 37.05
· SET Index: 1,622.5 (-0.62%), 9 Nov 2022
· S&P 500 Index: 3,748.6 (-2.10%), 9 Nov 2022
· Thai 10-year government bond yield (interpolated): 3.07 (-5.97 bps), 9 Nov 2022
· US 10-year treasury yield: 4.12 (-2.0 bps), 9 Nov 2022
- US wholesale inventories revised lower in September
- UK hiring falls as political upheaval adds to employers’ worries
- China's Oct new yuan loans seen sliding as demand weakens
- Dollar higher as investors look past U.S. midterms to inflation data
US wholesale inventories revised lower in September US wholesale inventories increased less than initially thought in September amid decreases in stocks of petroleum and computer equipment, also suggesting that businesses were carefully managing their inventory amid slowing demand. The Commerce Department said on Wednesday that wholesale inventories rose 0.6% instead of 0.8% as reported last month. Stocks at wholesalers advanced 1.4% in August. Economists polled by Reuters had expected that inventories would be unrevised. Wholesale inventories increased 24.1% in September on a year-on-year basis. Inventories are a key part of gross domestic product. Petroleum stocks fell 3.8% after rising 3.4% in August, while those of computers and electronic products slipped 0.5%.
UK hiring falls as political upheaval adds to employers’ worries British employers cut their hiring of permanent staff via recruitment firms for the first time in nearly two years in October as the country’s political upheaval added to concerns about the economy, a survey showed on Thursday. With the Bank of England now warning of the risk of the longest recession in at least a century, permanent placements fell for the first time since February 2021, the Recruitment and Employment Confederation (REC) said. Hiring of temporary workers stagnated and wage growth for permanent new staff was its weakest in a year and a half.
China's Oct new yuan loans seen sliding as demand weakens China's new yuan loans likely slumped in October from September, a Reuters poll showed, as stringent curbs to stamp out COVID-19 outbreaks and a property sector debt crisis hurt economic activity and credit demand. Chinese banks are estimated to have issued 800 billion yuan($110.4 billion) in net new yuan loans last month, falling sharply from 2.47 trillion yuan in September, according to the median estimate in the survey of 27 economists. That would be lower than the 826.2 billion yuan issued in the same month a year earlier. In October, the People's Bank of China made 154.3 billion yuan in loans to three policy banks via its PSL facility, central bank data showed.
Dollar higher as investors look past U.S. midterms to inflation data The 10-year government bond yield (interpolated) on the previous trading day was 3.07, -5.97 bps. The benchmark government bond yield (LB31DA) was 3.11, -7.0 bps. LB31DA could be between 3.05-3.15. Meantime, the latest closed US 10-year bond yields was 4.12, -2.0 bps. USDTHB on the previous trading day closed around 36.85 Moving in a range of 36.78-36.86 this morning. USDTHB could be closed between 36.60-37.10 today. The dollar advanced against most major currencies on Wednesday, as results so far for the U.S. midterm elections showed little evidence of a "red wave" resounding Republican victory that some expected, leaving investors to focus on upcoming inflation data. Republicans made modest gains in the midterms, but Democrats performed better than expected, as control of the Senate hinged on three races that remained too close to call. A stronger showing by Republicans may have backed the idea of less fiscal support and potentially a lower peak in the Fed's terminal rate, which would have been dollar negative, said Joe Manimbo, senior market analyst at Convera in Washington.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
