- USDTHB: moving in the range 34.855-34.93 this morning, supportive level at 34.70 resistance level at 35.00
· SET Index: 1,618.2 (-0.05%), 19 Dec 2022
· S&P 500 Index: 3,817.7 (-0.90%), 19 Dec 2022
· Thai 10-year government bond yield (interpolated): 2.60 (+4.06
bps), 19 Dec 2022
· US 10-year treasury yield: 3.57 (+9.0 bps), 16 Dec 2022
- US Homebuilder Sentiment Extends Record Decline to 12 Months
- UK factory output and export orders sag in December
- Chinese business confidence falls to lowest in almost a decade on COVID
- Dollar slips with the yen in demand; BoJ meeting in focus
US Homebuilder Sentiment Extends Record Decline to 12 Months US homebuilder sentiment fell every month in 2022, sinking in December to a level not seen in over a decade outside of the pandemic amid elevated mortgage rates and high construction costs. The National Association of Home Builders/Wells Fargo gauge dropped 2 points this month to 31, the lowest level since June 2012 excluding the onset of the Covid-19 pandemic, figures showed Monday. The uninterrupted slide this entire year represents the longest stretch on record. The rapid climb in mortgage rates this year — a result of the Federal Reserve’s aggressive inflation-fighting campaign — crushed buyer demand for homes. At the same time, higher costs for materials and labor have made it more expensive to build. The combination has weighed on builder sentiment and new construction.
UK factory output and export orders sag in December British factories' output and export orders slid this month, according to a survey on Monday that underlined the troubles faced by the manufacturing sector, including high inflation and a weak global economy. The Confederation of British Industry (CBI) said its gauge of manufacturing output during the three months to December fell to its lowest level since September 2020. Its gauge of new orders cooled to -6 in December from -5 in November, a smaller drop than the decline to -9 which economists had forecast in a Reuters poll, and still above the series' long-run average. However, export orders fell sharply to -19 from -18 and manufacturers' price expectations strengthened.
Chinese business confidence
falls to lowest in almost a decade on COVID China's business confidence fell
to its lowest since January 2013, a survey by World Economics showed on Monday,
reflecting the impact of surging COVID-19 cases on economic activity with the
abrupt lifting of many pandemic control measures. The index fell to 48.1 in
December from 51.8 in November, showed the World Economics' survey of sales
managers at over 2,300 companies conducted Dec. 1-16. The index was the lowest
since the survey began in 2013. The survey results were among the first
indicators of how business sentiment has taken a hit in the world's
second-biggest economy, after the sharp relaxation of strict COVID containment
measures on
Dec. 7 triggered a still-growing wave of domestic COVID cases across China.
Dollar slips with the yen in demand; BoJ meeting in focus The 10-year government bond yield (interpolated) on the previous trading day was 2.60, +4.06 bps. The benchmark government bond yield (LB31DA) was 2.33, +2.34 bps. LB31DA could be between 2.20-2.70. Meantime, the latest closed US 10-year bond yields was 3.57, +9.0 bps. USDTHB on the previous trading day closed around 34.82 Moving in a range of 34.855-34.93 this morning. USDTHB could be closed between 34.80-35.20 today. The U.S. dollar weakened in early European trade Monday, with the yen in demand following a report that the Japanese authorities could be set to adjust the country's inflation target. The Dollar Index, which tracks the greenback against a basket of six other currencies, fell 0.3% to 104.035. USD/JPY fell 0.6% to 135.84 after local Japanese press reported over the weekend that the country's Prime Minister Fumio Kishida was considering issuing a joint statement with the Bank of Japan, probably next year, which would allow more flexibility around the 2% inflation goal. Such a move would likely mean a potential policy shift in the central bank's ultra-accommodative stance, which has seen Japanese interest rates stick to near zero while other major central banks have aggressively hiked rates to combat soaring inflation, to the detriment of the yen.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
