- USDTHB: moving in the range 36.185-36.285 this morning, supportive level at 36.00 resistance level at 36.30
· SET Index: 1,618.9 (+0.09%), 21 Nov 2022
· S&P 500 Index: 3,949.9 (-0.39%), 21 Nov 2022
· Thai 10-year government bond yield (interpolated): 2.78 (+2.88 bps), 21 Nov 2022
· US 10-year treasury yield: 3.83 (+1.0 bps), 21 Nov 2022
- U.S. business equipment borrowings grew 6% in October
- China leaves lending benchmarks unchanged for 3rd straight month in Nov
- Thai economy posts fastest growth in a year, global risks cloud outlook
- Dollar soars on safe haven flows as China's COVID woes increase
U.S. business equipment borrowings grew 6% in October U.S. companies borrowed 6% more in October to finance equipment investments compared with a year earlier, industry body Equipment Leasing and Finance Association (ELFA) said on Monday. The companies signed up for $11.3 billion in new loans, leases and lines of credit last month, compared with $10.7 billion a year earlier, according to ELFA. Borrowings were up nearly 6% from January. ELFA, which reports economic activity for the nearly $1-trillion equipment finance sector, said credit approvals totaled 77%, marginally down from 77.3% in September. The Washington-based body's leasing and finance index measures the volume of commercial equipment financed in the United States.
China leaves lending benchmarks unchanged for 3rd straight month in Nov China kept its benchmark lending rates unchanged for the third straight month on Monday, as a weaker yuan and persistent capital outflows continued to limit Beijing’s ability to ease monetary conditions to support the economy. But sluggish credit demand and a darkening growth outlook have prompted some traders and market analysts to predict a marginal reduction to the mortgage reference rate as early as next month to prop up the broader economy. As expected, the one-year loan prime rate (LPR) was kept at 3.65%, while the five-year LPR was unchanged at 4.30%.
Thai economy posts fastest growth in a year, global risks cloud outlook Thailand's economy grew at its fastest pace in over a year in the third quarter, as a revival in tourism, increased consumption and a pick-up in private investment boosted growth, but the state planning agency flagged global growth risks ahead. Southeast Asia's second-largest economy expanded 4.5% in the September quarter from a year earlier, data from the National Economic and Social Development Council (NESDC) showed on Monday. That was up sharply from the April-July period and quarterly growth surpassed expectations, reinforcing bets for a rate hike this month. While third-quarter growth was among the smallest in Southeast Asia, it was the fastest expansion since the second quarter of 2021 and the state planning agency forecast full-year 2022 growth at pre-pandemic levels.
Dollar soars on safe haven flows as China's COVID woes increase The 10-year government bond yield (interpolated) on the previous trading day was 2.79, +2.88 bps. The benchmark government bond yield (LB31DA) was 2.71, +7.0 bps. LB31DA could be between 2.65-3.00. Meantime, the latest closed US 10-year bond yields was 3.83, +1.0 bps. USDTHB on the previous trading day closed around 36.06 Moving in a range of 36.185-36.285 this morning. USDTHB could be closed between 35.80-36.40 today. The U.S. dollar gained in early European trade Monday, as worries that the escalating COVID situation in China would stunt the global economic recovery prompted safe haven flows. Several Chinese cities saw a record spike in new COVID-19 cases over the weekend, while the country saw its first COVID-related death in almost six months on Saturday and another two were reported on Sunday. The rising infections saw the introduction of new lockdowns in several financial hubs, including the capital Beijing and economic center Shanghai, raising fears that economic activity would be severely impacted in the world's second largest economy and major regional growth driver.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
