- USDTHB: moving in the range 36.05-36.17 this morning, supportive level at 35.90 resistance level at 36.40
· SET Index: 1,619.2 (-0.20%), 10 Nov 2022
· S&P 500 Index: 3,956.4 (+5.40%), 10 Nov 2022
· Thai 10-year government bond yield (interpolated): 3.02 (-5.48 bps), 10 Nov 2022
· US 10-year treasury yield: 3.82 (-30.0 bps), 10 Nov 2022
- US CPI falls to 9-month low in October, bolstering rate hopes
- Half a million UK workers drop out of workforce, citing long-term illness
- Japan's Oct wholesale prices rise 9.1% yr/yr
- Dow soars as tech reigns supreme amid cooling inflation
US CPI falls to 9-month low in October, bolstering rate hopes The annual rate of inflation in the U.S. fell by more than expected in October, indicating that the worst of the post-pandemic price spike is over and bolstering hopes of an early end to the current cycle of interest rate increases. Consumer prices rose 7.7% from a year earlier, down from 8.2% in September and clearly below the 8.0% consensus forecast. The current dynamic in prices also eased more than expected. with overall prices rising only 0.4% on the month, down from 0.6% in September, and core prices - which strip out volatile food and energy elements - rising 0.3%, rather than the 0.5% expected. The headline rate of inflation has now fallen for four months in a row, from a peak of 9.1% in June. At 7.7%, it's now at its lowest rate since January.
Half a million UK workers drop out of workforce, citing long-term illness The number of people who have dropped out of Britain’s job market since 2019 and who now cite a long-term illness or mental health problems has risen by half a million or about 25%, the Office for National Statistics (ONS) said. The increase in long-term sickness started in 2019, before the pandemic, before rising sharply by 363,000 between early 2020 and the three months to the end of August 2022 to reach 2.5 million, it said. The analysis adds to the Bank of England’s worries as it seeks to tame inflation, now at a 40-year high. The BoE is concerned that the number of people leaving Britain’s workforce will fuel inflationary pressures and the latest labor market data pointed to a record workforce exodus.
Japan's Oct wholesale prices rise 9.1% yr/yr Japan's wholesale prices rose 9.1% in October from a year earlier, slowing from the previous month's record gain but remaining at high levels as the weak yen continued to inflate the cost of raw material imports for companies. The data underscores the challenge policymakers face in protecting a fragile economic recovery from stubbornly high import costs that are hurting corporate profits and consumption. The corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, rose 9.1% in October from a year earlier, data showed on Friday. The rise was slower than a record 10.2% jump in September but exceeded a median market forecast for an 8.8% gain. The index, at 117.5, extended a record high for a seventh month.
Dow soars as tech reigns supreme amid cooling inflation The 10-year government bond yield (interpolated) on the previous trading day was 3.02, -5.48 bps. The benchmark government bond yield (LB31DA) was 3.04, -3.00 bps. LB31DA could be between 3.00-3.10. Meantime, the latest closed US 10-year bond yields was 3.82, -30.00 bps. USDTHB on the previous trading day closed around 36.88 Moving in a range of 36.05-36.17 this morning. USDTHB could be closed between 36.00-36.50 today. The Dow rallied Thursday, as inflation dropped to a nine-month low, delivering a blow to Treasury yields and sparking a sea of the green in tech stocks amid hopes for the Federal Reserve to lean less hawkish on rate hikes. The Dow Jones Industrial Average gained 3.7%, or 1,201 points, the Nasdaq was up 7.4%, and the S&P 500 gained 5.5%. The prospect of a less hawkish Fed pushed Treasury yields lower, with the 2-year Treasury yield, which is sensitive to Fed policy, falling to two-week lows, helping big tech surge.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
