- USDTHB: moving in the range 34.40-34.45 this morning supportive level at 34.30 resistance level at 34.50
· SET Index: 1,558.4 (-0.43%), 21 April 2023
· S&P 500 Index: 4,133.5 (+0.09%), 21 April 2023
· Thai 10-year government bond yield (interpolated): 2.50 (-2.56 bps), 21 April 2023
· US 10-year treasury yield: 3.57 (+3.00 bps), 21 April 2023
- U.S. business activity in April touches 11-month high
- UK economy shows signs of recovery despite inflation’s drag
- Japan's factory activity shrinks at slowest pace in six months
- Oil prices slide on uncertainty over global economic outlook, rate hikes
U.S. business activity in April touches 11-month high Business activity in the U.S. accelerated by more than expected in April, thanks to stronger demand conditions, easing supply constraints, and a jump in new orders, according to new data released on Friday. S&P Global's flash composite U.S. purchasing managers' index came in at 53.5, the highest mark in 11 months and above estimates of 52.8. It was the quickest upturn in business activity since May 2022. A reading above 50 denotes expansion. New orders at U.S. companies surged by the most in 11 months, which S&P Global said was due, in part, to improved consumer confidence and the addition of new clients domestically. Growth was led by the service sector, while the manufacturing industry returned to expansion for the first time in seven months.
UK economy shows signs of recovery despite inflation’s drag British businesses reported their busiest month in a year and consumers turned more confident, according to surveys published on Friday that added to signs of a recovery in the economy that has so far defied forecasts of a recession. The preliminary reading of the S&P Global/CIPS UK Composite Purchasing Mangers’ Index (PMI) also showed the slowest input cost inflation in over two years, but price pressures look strong enough for the Bank of England to raise rates again next month. The PMI – spanning services and manufacturing firms – rose to 53.9 in April from 52.2 in March, putting it further above the 50 line denoting growth for the third consecutive month and representing the strongest growth since April last year. Economists polled by Reuters had forecast a lower reading of 52.5.
Japan's factory activity shrinks at slowest pace in six months Japan's manufacturing activity shrank at the slowest pace in six months in April on a softer decline in sales, while the service-sector stayed solid, a preliminary survey showed on Friday, suggesting a patchy post-COVID economic recovery. The au Jibun Bank flash Japan manufacturing purchasing managers' index (PMI) rose to a seasonally adjusted 49.5 in April, from a final 49.2 in the previous month. The index remained below the 50-level that separates contraction from expansion for a six straight month in April, pointing to the persistent struggles for factories even though the worst appeared to be over for the sector. On the plus side, service-sector activity expanded for an eight straight month in April supported by gains in new orders and new export business, the same survey showed.
Oil prices slide on uncertainty over global economic outlook, rate hikes The 10-year government bond yield (interpolated) on the previous trading day was 2.50, -2.56 bps. The benchmark government bond yield (LB31DA) was 2.54, -3.00 bps. LB31DA could be between 2.20-2.70 Meantime, the latest closed US 10-year bond yields was 3.57, +3.00 bps. USDTHB on the previous trading day closed around 34.36 Moving in a range of 34.40-34.45 this morning. USDTHB could be closed between 34.00-34.50 today. Oil prices slipped on Monday as concerns about rising interest rates, the global economy and the outlook for fuel demand outweighed support from the prospect of tighter supplies on OPEC+ supply cuts. Brent crude slipped 48 cents, or 0.6%, to $81.18 a barrel by 0045 GMT while U.S. West Texas Intermediate crude was at $77.39 a barrel, down 48 cents, also 0.6% lower. Both contracts fell more than 5% last week, their first weekly drop in five, as U.S. implied gasoline demand fell from a year ago, fueling worries of a recession at the world's top oil consumer. Central banks from the United States to Britain and Europe are all expected to raise interest rates when they meet in the first week of May, seeking to tackle stubbornly high inflation. China's bumpy economic recovery post COVID-19 also clouded its oil demand outlook, although Chinese customs data showed on Friday that the world's top crude importer brought in record volumes in March.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
