- USDTHB: moving in the range 33.94-33.98 this morning
· SET Index: 1,594.1 (-0.40%), 4 April 2023
· S&P 500 Index: 4,100.6 (-0.58%), 4 April 2023
· Thai 10-year government bond yield (interpolated): 2.47 (+0.88 bps), 4 April 2023
· US 10-year treasury yield: 3.35 (-8.00 bps), 4 April 2023
- U.S. job openings slip below 10 million for first time since 2021 in February
- Euro zone producer prices fall for fifth straight month in Feb
- German exports rise significantly more than expected in February
- Oil edges up as OPEC cuts, U.S. inventories brighten outlook
U.S. job openings slip below 10 million for first time since 2021 in February The number of job openings in the U.S. fell for the second straight month in February, according to data from the Labor Department on Tuesday. The Job Openings and Labor Turnover Survey, or JOLTS, showed that vacancies dipped to 9.931 million during the month, slipping from a downwardly revised level of 10.56 million in January and 11.23 million in December. Economists had seen the February figure, which also fell below 10 million for the first time since 2021, coming in at 10.40 million. Lay-offs, meanwhile, dropped by 215,000 to 1.5 million and voluntary quits moved up by 146,000 to 4.0 million. Due to month-on-month volatility in vacancies, lay-offs are often viewed as a more reliable indicator of the state of the labor market. The smaller-than-expected JOLTS reading could be seen as a sign of a cooling job market in the world's largest economy, and, potentially, as a case against further Federal Reserve rate hikes.
Euro zone producer prices fall for fifth straight month in Feb Euro zone producer prices fell for a fifth consecutive month and by more than expected in February, almost entirely due to declining energy prices. EU statistics office Eurostat said on Tuesday that prices at factory gates in the 20 countries sharing the euro declined by 0.5% month-on-month in February for a 13.2% year-on-year increase. This marks a steady deceleration from the 43.4% peak in August, when energy prices were more than twice their level a year earlier. Economists polled by Reuters had expected a monthly fall in prices of 0.3% and a year-on-year deceleration to 13.3%. The energy component dropped by 1.6%, although was still up 17.4% from a year earlier, when Russia’s invaded Ukraine.
German exports rise significantly more than expected in February German exports rose significantly more than expected in February due to strong demand from the United States and China, posting their biggest increase in 10 months, data showed on Tuesday. Exports increased by 4.0% on the previous month, the federal statistics office said. A Reuters poll had predicted a month-on-month rise in exports of 1.6%. Exports had risen 2.5% month-on-month in January. In February, exports to European Union countries rose 2.0% on the previous month, while exports to the U.S. and China increased by 9.4% and 10.2% respectively compared with January. Imports grew by 4.6% compared with January, the office reported, versus analysts' expectations for a 1.0% rise. The increase follows five consecutive monthly contractions.
Oil edges up as OPEC cuts, U.S. inventories brighten outlook The 10-year government bond yield (interpolated) on the previous trading day was 2.47, +0.88 bps. The benchmark government bond yield (LB31DA) was 2.48, +0.00 bps. LB31DA could be between 2.20-2.70 Meantime, the latest closed US 10-year bond yields was 3.35, -8.00 bps. USDTHB on the previous trading day closed around 34.26 Moving in a range of 33.94-33.98 this morning. USDTHB could be closed between 33.80-34.05 today. Oil prices rose in early Asian trade on Wednesday on anticipated U.S. crude inventory declines and OPEC+'s latest output cut targets. Brent crude futures gained 38 cents to $85.32 a barrel. West Texas Intermediate U.S. crude was up 33 cents to $81.04 a barrel. Helping boost oil prices was an industry report showing that U.S. crude stocks fell by about 4.3 million barrels in the week ended March 31, according to market sources citing American Petroleum Institute figures on Tuesday. In Asia, Japan's service sector grew in March at the fastest rate in more than nine years. Gasoline inventories fell by about 4 million barrels, while distillate stocks fell by about 3.7 million barrels.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
