- USDTHB: moving in the range 33.45-33.61 this morning, supportive level at 33.45 resistance level at 33.65
· SET Index: 1,691.4 (+0.00%), 10 Jan 2023
· S&P 500 Index: 3,919.3 (+0.70%), 10 Jan 2023
· Thai 10-year government bond yield (interpolated): 2.44 (-1.47 bps), 10 Jan 2023
· US 10-year treasury yield: 3.61 (+8.00 bps), 10 Jan 2023
- U.S. small-business sentiment skids to half-year low
- Australia CPI inflation surges in Nov, spells more economic pressure
- South Korea Dec 2022 unemployment rate rises to 11-month high
- Dollar treads water near 7-month lows ahead of U.S. inflation data
U.S. small-business sentiment skids to half-year low U.S. small-business confidence slid to a six-month low in December, according to a survey on Tuesday, which also showed that inflation and worker shortages remained major issues for firm owners. The National Federation of Independent Business (NFIB) said its Small Business Optimism Index fell 2.1 points to 89.8 last month - the lowest since June - amid a decline in the share of owners who expected better business conditions over the next six months. It was the 12th straight month that the index was below the 49-year average of 98. The net share of owners expecting better business conditions over the next six months fell to -51% last month from -43% in November. It was -61% as recently as June. Thirty-two percent of owners reported that inflation was their single most important problem, unchanged from November and 5 points lower than July's reading, which was the highest since the fourth quarter of 1979.
Australia CPI inflation surges in Nov, spells more economic pressure Australian consumer inflation rose sharply in November, data showed on Wednesday, heralding more economic pressure from potentially reduced household spending and amid increasing chances of more monetary tightening by the Reserve Bank. Australia’s consumer price index (CPI) indicator rose at an annualized 7.3% in November, data from the Australian Bureau of Statistics showed, coming back to levels seen in September after briefly dipping to 6.9% in October. November’s reading was at its highest level in 30 years. Housing costs were the biggest contributors to the increased prices, as high labor and material costs drove up the prices of new homes. High interest rates also saw mortgage rates soar in 2022.
South Korea Dec 2022 unemployment rate rises to 11-month high South Korea’s unemployment rate rose to an 11-month high in December 2022, while the annual increase in employed people marked the smallest in 21 months, official data showed on Wednesday. The country’s seasonally-adjusted unemployment rate for December stood at 3.3%, higher than 2.9% in November and the highest since January, according to Statistics Korea. In the 12 months through December, the number of employed people increased by 509,000, extending a run of year-on-year gains to a 22nd straight month but marking the smallest annual increase since March 2021. For the year 2022, South Korea’s annual unemployment rate stood at 2.9%, falling from 3.7% in 2021 and the lowest level since the data release started in 2000.
Dollar treads water near 7-month lows ahead of U.S. inflation data The 10-year government bond yield (interpolated) on the previous trading day was 2.44, -1.47 bps. The benchmark government bond yield (LB31DA) was 2.48, -1.0 bps. LB31DA could be between 2.30-2.80. Meantime, the latest closed US 10-year bond yields was 3.61, +8.0 bps. USDTHB on the previous trading day closed around 33.47 Moving in a range of 33.45-33.61 this morning. USDTHB could be closed between 33.20-33.70 today. The dollar was rangebound on Tuesday, hovering around its weakest level in seven months versus the euro and a group of other major currencies, as traders awaited U.S. inflation data later this week to help firm up interest rate hike expectations. The euro was up 0.1% against the greenback to $1.07415, just below a seven-month high of $1.07605 hit on Monday. Sterling dipped 0.18% to $1.21585, just below Monday's three-week top. The dollar has been trending lower as investors and traders question whether the Federal Reserve will have to increase its target interest rate beyond 5% to curb stubbornly high inflation, as the effects of the U.S. central bank's aggressive hikes in borrowing costs in 2022 have already begun to show. Data last week showed that while the U.S. economy added jobs at a solid clip in December, wage growth slowed, while another report showed that services activity weakened.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
