- USDTHB: moving in the range 34.29-34.37 this morning supportive level at 34.25 resistance level at 34.45
· SET Index: 1,540.2 (-1.14%), 25 April 2023
· S&P 500 Index: 4,071.6 (-1.59%), 25 April 2023
· Thai 10-year government bond yield (interpolated): 2.48 (-1.39 bps), 25 April 2023
· US 10-year treasury yield: 3.40 (-12.00 bps), 24 April 2023
- US consumer confidence falls to 9-month low in April
- UK grocery inflation eases slightly to 17.3% in April
- Japan’s business services inflation hits 8-year high in fiscal 2022
- Dollar, yen buoyed as US banking sector fears put safe-havens back in vogue
US consumer confidence falls to 9-month low in April U.S. consumer confidence fell to a nine-month low in April led by a darkening outlook that augers a recession beginning in the near future, a survey showed on Tuesday. The Conference Board said its consumer confidence index fell to 101.3 - the lowest since July 2022 - from a revised 104.0 in March. Economists polled by Reuters had expected the index to be unchanged from March at 104.0. The share of consumers viewing jobs as "plentiful" ticked up to 48.4% from a downwardly revised 47.9% a month earlier, and the share of those describing them as "hard to get" edged down 11.1% from an upwardly revised 11.4% in March. Consumers' 12-month inflation expectations slipped to 6.2% from 6.3% last month.
UK grocery inflation eases slightly to 17.3% in April British grocery inflation edged lower in April but remained near record highs, industry data showed on Tuesday, providing little relief for consumers being hammered by a cost-of-living crisis. Market researcher Kantar said grocery inflation was 17.3% in the four weeks to April 16, down from the record 17.5% in its March data set. It said April saw a tenth month in a row of double-digit grocery price inflation, with prices rising fastest in markets such as eggs, milk and cheese. The Kantar data for April provides the most up to date snapshot of UK grocery inflation. Official UK data published last week showed overall consumer price inflation fell to 10.1% in March. However, prices of food and non-alcoholic drinks were 19.1% higher in March than a year earlier, the biggest such rise since August 1977.
Japan’s business services inflation hits 8-year high in fiscal 2022 Japan’s business-to-business service inflation hit an eight-year high in the fiscal year that ended March, data showed on Tuesday, a sign inflationary pressure was broadening beyond goods reflecting a tight job market and solid domestic demand. The data may keep alive market expectations that new Bank of Japan (BOJ) Governor Kazuo Ueda will phase out the bank’s massive stimulus program in coming months. The services producer price index, which measures the prices companies charge each other for services, rose 1.8% in fiscal 2022, higher than a 1.2% increase in the previous year, BOJ data showed on Tuesday. It was the fastest pace of increase since fiscal 2014, when it rose 3.3%. In March, the index rose 1.6% from a year ago, marking the 25th straight month of year-on-year increase, the data showed. It followed a revised 1.7% gain in February.
Dollar, yen buoyed as US banking sector fears put safe-havens back in vogue The 10-year government bond yield (interpolated) on the previous trading day was 2.48, -1.39 bps. The benchmark government bond yield (LB31DA) was 2.50, -1.00 bps. LB31DA could be between 2.20-2.70 Meantime, the latest closed US 10-year bond yields was 3.40, -12.00 bps. USDTHB on the previous trading day closed around 34.36 Moving in a range of 34.29-34.37 this morning. USDTHB could be closed between 34.00-34.50 today. The U.S. dollar and the yen, both safe haven assets, were mostly steady after spiking higher overnight as renewed concerns over the U.S. banking sector and economy dented risk sentiment. The dollar index, which measures the currency against six major rivals, nudged 0.01% higher to 101.80 following a 0.5% increase overnight. The index is down 0.76% for the month. Shares of First Republic Bank slid nearly 50% on Tuesday after it reported a more than $100 billion plunge in deposits in the quarter, battered by lost confidence in the banking sector. It faces dwindling and tough options to turn around its business with the creation of a 'bad bank' or asset sales possibilities.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
