- USDTHB: moving in the range 34.22-34.34 this morning, supportive level at 34.20 resistance level at 34.35
· SET Index: 1,577.1 (+0.38%), 7 April 2023
· S&P 500 Index: 4,105.0 (+0.36%), 6 April 2023
· Thai 10-year government bond yield (interpolated): 2.46 (+0.00 bps), 7 April 2023
· US 10-year treasury yield: 3.39 (+9.00 bps), 7 April 2023
- US economy still churning out jobs at brisk clip; wage pressures subsiding
- Japan February real wages fall for eleventh month but at slower pace
- Canada's jobs market stays strong ahead of central bank rate decision
- Dollar firms as US jobs report backs Fed hike in May
US economy still churning out jobs at brisk clip; wage pressures subsiding U.S. employers maintained a strong pace of hiring in March, pushing the unemployment rate back down to 3.5% and signaling labor market resilience that will keep the Federal Reserve on track to raise interest rates one more time next month. The Labor Department's closely watched employment report on Friday showed that annual wage gains slowed but remained too high to be consistent with the U.S. central bank's 2% inflation target. The release capped a week dominated by data, including upward revisions to the weekly state unemployment and continuing claims, that had suggested labor market conditions were easing. Labor market tightness is drawing more people into the workforce, with 480,000 entrants last month, which could help to further restrain wage growth. The unemployment rate for Blacks dropped to an all-time low of 5.0%.
Japan February real wages fall for eleventh month but at slower pace Japan’s real wages fell in February for an eleventh month, labor ministry data showed on Friday, although the rate of the decrease slowed thanks to government energy subsidies aimed at curbing consumer inflation. While major Japanese firms concluded annual labor talks with the largest pay rises in about three decades, higher prices have demoralized consumers as the world’s third-largest economy faces uncertainty from a global slowdown and a new central bank chief. Inflation-adjusted real wages, a gauge of households’ purchasing power, dropped by 2.6% in February from a year earlier, following a 4.1% fall in January that marked the fastest decline in nearly nine years. Total cash earnings, or nominal wages, posted a 1.1% year-on-year gain in February, faster than a 0.8% growth in January.
Canada's jobs market stays strong ahead of central bank rate decision The Canadian economy added more jobs than expected in March and the unemployment rate remained near a record low for a fourth straight month, data on Thursday showed, a sign of economic resilience ahead of a central bank policy meeting next week. The economy gained a net 34,700 jobs, almost entirely in the private sector, and the unemployment rate held steady at 5.0%, Statistics Canada reported. Analysts surveyed by Reuters had forecast that a net 12,000 jobs would be gained in March and the unemployment rate would edge up to 5.1%. It was the seventh straight monthly job gain and brought the net increase in the number of people employed since September to 383,000. Since December, the jobless rate has stayed just a notch above the record low of 4.9% observed in mid-2022.
Dollar firms as US jobs report backs Fed hike in Ma The 10-year government bond yield (interpolated) on the previous trading day was 2.46, +0.00 bps. The benchmark government bond yield (LB31DA) was 2.49, -2.00 bps. LB31DA could be between 2.20-2.70 Meantime, the latest closed US 10-year bond yields was 3.39, +9.00 bps. USDTHB on the previous trading day closed around 34.12 Moving in a range of 34.22-34.34 this morning. USDTHB could be closed between 34.00-34.50 today. The dollar strengthened on Friday after data showed an increase in jobs in the world's largest economy last month, suggesting that the Federal Reserve may have to raise interest rates next month. Prior to the jobs report, the rate futures market had been betting that the Fed would pause at the May policy meeting. The market has now priced in a 70% chance the Fed will raise interest rates by 25 basis points (bps), though multiple rate cuts have also been factored in by the end of the year. Friday's data showed U.S. nonfarm payrolls increased 236,000 in March, in line with forecasts of 239,000. Data for February was revised higher to show 326,000 jobs were added instead of 311,000 as previously reported.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
