- USDTHB: moving in the range 35.35-35.52 this morning, supportive level at 35.25 resistance level at 35.55
· SET Index: 1,624.4 (+0.46%), 29 Nov 2022
· S&P 500 Index: 3,957.6 (-0.16%), 29 Nov 2022
· Thai 10-year government bond yield (interpolated): 2.67 (+2.91 bps), 29 Nov 2022
· US 10-year treasury yield: 3.75 (+6.0 bps), 29 Nov 2022
- U.S. house prices fell another 1.5% in September
- German inflation eased in November but too soon for 'all-clear’
- Chinese PMIs shrink further in November as zero-COVID weighs
- Oil up as U.S. crude stocks seen falling, OPEC+ concerns limit gains
U.S. house prices fell another 1.5% in September The U.S. housing market was firmly on a downward path by the end of summer, as selling prices fell for a third straight month in September, according to new data out on Tuesday. S&P said its index of prices from 20 major metropolitan markets across the company fell another 1.5% in September, after having fallen 1.6% in August and 0.8% in July. August's drop was the biggest monthly fall in prices since the Great Financial Crisis in 2008, caused by the implosion of the subprime credit bubble. In year-on-year terms, the rise in prices slowed to 10.4%, its lowest since the end of 2020, as the Federal Reserve's sequence of interest rate hikes has sharply reduced the amount of debt that most families can take on to finance a home purchase. Only five months ago, prices were still rising at an annual pace of over 20%.
German inflation eased in November but too soon for 'all-clear’ Germany's inflation cooled slightly in November, but remained near a record high, suggesting that while cost pressures have eased in Europe's largest economy, they are unlikely to weaken the European Central Bank's resolve to tame prices. German consumer prices, harmonized to compare with other European Union countries, rose by 11.3% on the year in November, preliminary data from the Federal Statistics Office showed on Tuesday, in line with forecasts by analysts polled by Reuters. October saw the highest reading since comparable data going back to 1996, with harmonized inflation up 11.6% on the year.
Chinese PMIs shrink further in November as zero-COVID weighs Chinese economic activity fell below expectations in November, data showed on Wednesday, as disruptions caused by COVID-related lockdowns continued to chip away at growth and worsened sentiment among manufacturers. The official manufacturing purchasing managers index (PMI) fell to 48.0 in November, government data showed, missing expectations for a reading of 49.0 and slipping well below last month’s reading of 49.2. Sectors outside manufacturing saw an even bigger contraction, with the non-manufacturing PMI reading 46.7 for November, missing expectations of 48 and falling from last month’s reading of 48.7. This saw overall business activity in the country contract further, with the composite PMI reading 47.1 for November, down from last month’s reading of 49.0.
Oil up as U.S. crude stocks seen falling, OPEC+ concerns limit gains The 10-year government bond yield (interpolated) on the previous trading day was 2.67, +2.91 bps. The benchmark government bond yield (LB31DA) was 2.53, +0.00 bps. LB31DA could be between 2.40-2.90. Meantime, the latest closed US 10-year bond yields was 3.75, +6.0 bps. USDTHB on the previous trading day closed around 35.63 Moving in a range of 35.35-35.52 this morning. USDTHB could be closed between 35.50-36.20 today. Oil prices rose in early Asian trade on Wednesday as U.S. crude inventories were seen falling but concerns that OPEC+ would leave output policy unchanged at its upcoming meeting limited gains. Helping to boost prices, U.S. crude oil stocks were expected to have dropped by about 7.9 million barrels in the week ended Nov. 25, according to market sources citing American Petroleum Institute figures on Tuesday. Gasoline inventories rose by about 2.9 million barrels, while distillate stocks were seen rising about 4.0 million barrels, according to the sources, who spoke on condition of anonymity.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
