- USDTHB: moving in the range 34.35-34.49 this morning, supportive level at 34.35 resistance level at 34.55
· SET Index: 1,657.7 (+0.36%), 20 Feb 2023
· S&P 500 Index: 4,079.1 (-0.28%), 17 Feb 2023
· Thai 10-year government bond yield (interpolated): 2.58 (-2.25 bps), 20 Feb 2023
· US 10-year treasury yield: 3.82 (-4.00 bps), 17 Feb 2023
- U.S. household debt jumps to $16.90 trillion
- UK property asking prices show weakest February gain on record
- Japan's factory activity shrinks at fastest pace in 2-1/2 years
- Dollar edges lower; on course for first monthly gain since September
U.S. household debt jumps to $16.90 trillion U.S. household debt jumped to a record $16.90 trillion from October through December last year, the largest quarterly increase in 20 years, as mortgage and credit card balances surged amid high inflation and rising interest rates, a Federal Reserve report showed. Household debt, which rose by $394 billion last quarter, is now $2.75 trillion higher than just before the COVID-19 pandemic began while the increase in credit card balances last December from one year prior was the largest since records began in 1999, the New York Fed's quarterly household debt report also said. Mortgage debt increased by $254 billion to $11.92 trillion at the end of December, according to the report, while mortgage originations fell to $498 billion, representing a return to levels last seen in 2019. Meanwhile credit card balances increased by $61 billion in the fourth quarter while auto loan balances rose by $28 billion, the report said.
UK property asking prices show weakest February gain on record Average asking prices for British residential property rose by just 14 pounds ($17) in February from January, the smallest rise on record for a month which normally sees a big seasonal increase, data from property website Rightmove showed on Monday. Rightmove said the minimal increase – effectively zero in percentage terms – suggested that property sellers were heeding advice to price their homes realistically in order to sell them into a market which has slowed sharply in recent months. Tim Bannister, Rightmove’s director of property science, said asking prices usually rose at this time of the year, which marks the start of the spring selling season. The monthly change – which is not seasonally adjusted – was the smallest January to February move since Rightmove’s records started in 2001. Compared with a year earlier, asking prices were still 3.9% higher.
Japan's factory activity shrinks at fastest pace in 2-1/2 years Japan's manufacturing activity contracted at the fastest pace in 30 months in February, a business survey showed on Tuesday, in a worrying sign for the world's third-largest economy, which is facing weakening demand and struggling to tame cost pressures. The au Jibun Bank flash Japan manufacturing purchasing managers' index (PMI) fell to a seasonally adjusted 47.4 in February, from a final 48.9 in the previous month. The index stayed below the 50-level that separates contraction from expansion for a fourth consecutive month and marked the largest decline since August 2020's 47.2. Factory output and new orders decreased for an eighth straight month and at faster rates than January, the sub-index data showed.
Dollar edges lower; on course for first monthly gain since September The 10-year government bond yield (interpolated) on the previous trading day was 2.58, -2.25 bps. The benchmark government bond yield (LB31DA) was 2.75, -2.5 bps. LB31DA could be between 2.50-3.00. Meantime, the latest closed US 10-year bond yields was 3.82, -4.0 bps. USDTHB on the previous trading day closed around 34.36 Moving in a range of 34.35-34.49 this morning. USDTHB could be closed between 34.30-34.80 today. The U.S. dollar edged lower in early European trade Monday but remained elevated after a strong run of U.S. economic data and ahead of the release of the minutes from the Federal Reserve’s latest meeting. At 03:05 ET (08:05 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% lower at 103.715, but is still up nearly 2% for the month so far, keeping it on track for its first monthly gain since last September. Trading activity is likely to be limited Monday with the U.S. on holiday to celebrate Presidents’ Day, but the dollar has benefited of late from data showing the world's largest economy remained resilient despite the higher interest rates.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
