- USDTHB: moving in the range 34.82-34.92 this morning, supportive level at 34.75 resistance level at 35.00
· SET Index: 1,616.7 (+0.42%), 22 Dec 2022
· S&P 500 Index: 3,822.4 (-1.46%), 22 Dec 2022
· Thai 10-year government bond yield (interpolated): 2.66 (+2.32
bps), 21 Dec 2022
· US 10-year treasury yield: 3.67 (-1.0 bps), 22 Dec 2022
- U.S. weekly initial jobless claims rise by less than expected to 216,000
- UK economy was G7 growth laggard in Q3 as dismal 2023 beckons
- Thai New Year spending seen at 3-year high as economy rebounds
- Oil falls by $1/bbl as rate hike fears outweigh tighter U.S. stockpiles
U.S. weekly initial jobless claims rise by less than expected to 216,000 The number of Americans filing for unemployment insurance grew by less than expected last week, according to new data from the Labor Department. Seasonally adjusted initial jobless claims in the U.S. rose to 216,000 during the week ended on December 17, climbing from an upwardly revised level of 214,000 in the prior period. Economists had predicted that the reading would grow even further to 222,000.The four-week moving average, which aims to smooth out volatility in the weekly figure, fell to 221,750, down from 228,000 from the previous week. Continuing claims - a measure of the amount of U.S. residents filing for ongoing unemployment benefits - also dipped to 1,672,000 from 1,678,000.
UK economy was G7 growth laggard in Q3 as dismal 2023 beckons Britain’s economy contracted more than first thought in the third quarter of this year, putting it bottom among the Group of Seven major advanced nations ahead of what is shaping up to be a dismal 2023, data showed on Thursday. Economic output fell by 0.3% in quarterly terms compared with a previous estimate of -0.2%, the Office for National Statistics said. The ONS said the data put Britain bottom in the G7 in terms of quarterly growth, though the readings were skewed a little to the downside by the one-off bank holiday for Queen Elizabeth’s funeral. Business investment fell by 2.5% in quarterly terms, compared with a previous first estimate of a 0.5% drop. The ONS said British economic output in Q3 was 0.8% below its level of late 2019, compared with a previous estimate of 0.4% below and in contrast to other G7 countries that have recovered.
Thai New Year spending seen at 3-year high as economy rebounds Thailand's consumer spending during the New Year could reach a three-year high of 103 billion baht ($2.97 billion) as the economy continues to recover from the impacts of the pandemic, the commerce university said on Thursday. That would be a record 20% jump from about 86 billion baht spending during the previous New Year period, Thanavath Phonvichai, president of the University of the Thai Chamber of Commerce, told a briefing on a consumer survey. The central bank has forecast Southeast Asia's second-largest economy would expand 3.2% this year and 3.7% in 2023, driven by increased tourism and private consumption. A revival of the vital tourism sector has bolstered consumer confidence that reached a 20-month high in November, when industrial sentiment also hit a 41-month high.
Oil falls by $1/bbl as rate hike fears outweigh tighter U.S. stockpiles The 10-year government bond yield (interpolated) on the previous trading day was 2.66, -2.32 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 3.67, -1.0 bps. USDTHB on the previous trading day closed around 34.69 Moving in a range of 34.82-34.92 this morning. USDTHB could be closed between 34.70-35.00 today. Oil fell by around $1 a barrel on Thursday in volatile trade as the impact of tighter U.S. crude stocks due to a winter storm in the United States was outweighed by fears that Federal Reserve interest rate hikes and China's rising COVID-19 cases would dent demand. Brent crude futures settled at $80.98 a barrel, losing $1.22, while 1.5%. U.S. West Texas Intermediate (WTI) crude futures settled at $77.49, falling by 80 cents, or 1%. Both benchmarks had risen by $1 a barrel earlier in the session. Oil gave up its daily gains after the release of U.S. economic data showed the number of people filing new claims for unemployment benefits increased less than expected last week and the economy rebounded faster than previously estimated in the third quarter.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
