- USDTHB: moving in the range 35.60-35.81 this morning, supportive level at 35.50 resistance level at 36.80
· SET Index: 1,625.0 (+0.03%), 24 Nov 2022
· S&P 500 Index: 4,027.3 (+0.59%), 23 Nov 2022
· Thai 10-year government bond yield (interpolated): 2.70 (-3.59 bps), 24 Nov 2022
· US 10-year treasury yield: 3.71 (-5.0 bps), 23 Nov 2022
- U.S. business activity weakens further in November
- Consumer inflation in Japan’s capital rises at fastest pace in 40 years
- South Korea producer inflation hits 16-month low in Oct
- Dollar headed for weekly loss as investors brace for slower Fed hikes
U.S. business activity weakens further in November U.S. business activity contracted for a fifth straight month in November, with a measure of new orders dropping to its lowest level in 2-1/2 years as higher interest rates slowed demand. S&P Global said its flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, fell to 46.3 this month from a final reading of 48.2 in October. A reading below 50 indicates contraction in the private sector. Activity is slumping under the weight of the Federal Reserve's most aggressive interest rate-hiking cycle since the 1980s aimed at curbing inflation by dampening economic demand. The flash composite new orders index dropped to 46.4, the lowest level since May 2020, from a final reading of 49.2 in October. Outside the initial wave of the COVID-19 pandemic, this was the worst reading since 2009.
Consumer inflation in Japan’s capital rises at fastest pace in 40 years Core consumer prices in Japan’s capital, a leading indicator of nationwide trends, rose at their fastest annual pace in 40 years in November and exceeded the central bank’s 2% target for a sixth straight month, signaling broadening inflationary pressure. The increase, driven mostly by food and fuel bills but spreading to a broader range of goods, cast doubt on the view of the Bank of Japan (BOJ) that recent cost-push inflation will prove transitory, some analysts said. The Tokyo core consumer price index (CPI), which excludes fresh food but includes fuel, was 3.6% higher in November than a year earlier, government data showed on Friday. The rise exceeded a median market forecast of 3.5% and the 3.4% increase seen in October The last time Tokyo inflation was faster was April 1982, when the core CPI was 4.2% higher than a year before.
South Korea producer inflation hits 16-month low in Oct South Korea's annual producer inflation slowed for a fourth straight month in October to a 16-month low, central bank data showed. The producer price index stood 7.3% higher in October than the same month a year ago, according to the Bank of Korea (BoK), after a revised 7.9% rise in September. The rise was the slowest since June 2021. Producer inflation had hit a near 14-year high of 10.0% in June. On a monthly basis, however, the index rose 0.5%, picking up from a revised 0.1% in September and the fastest in four months. The monthly rise was led by utility prices for electricity, gas, water supply and waste, which jumped 8.1%.
Dollar headed for weekly loss as
investors brace for slower Fed hikes The 10-year government bond
yield (interpolated) on the previous trading day was 2.70, -3.59 bps. The
benchmark government bond yield (LB31DA) was 2.735, -7.0 bps. LB31DA could be
between 2.65-3.00. Meantime, the latest closed US 10-year bond yields was 3.71,
-5.0 bps. USDTHB on the previous trading day closed around 36.00 Moving in a
range of 35.60-35.81 this morning. USDTHB could be closed between 35.80-36.20
today. The dollar stood close to a three-month low and was on track for a
weekly loss on Friday, as the prospect of the Federal Reserve slowing monetary
policy tightening as soon as December dominated investors' minds and kept the
mood buoyant. Trading was thin overnight due to the Thanksgiving holiday in the
United States, though most currencies extended their gains against a softer
greenback before paring them slightly in early Asia trade. Sterling rose more
than 0.5% overnight and last stood at $1.21125, close to its over three-month
high of $1.2153 hit in the previous session and on track for a nearly 2% weekly
gain.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
