- USDTHB: moving in the range 33.90-34.08 this morning supportive level at 33.90 resistance level at 34.10
· SET Index: 1,528.4 (+0.00%), 2 May 2023
· S&P 500 Index: 4,119.6 (-1.17%), 2 May 2023
· Thai 10-year government bond yield (interpolated): 2.52 (-1.79 bps), 2 May 2023
· US 10-year treasury yield: 3.44 (-15.00 bps), 2 May 2023
- U.S. job openings fall to almost two-year low in March
- Euro zone inflation picks up, but core unexpectedly slows
- Hong Kong's GDP rebounds 2.7% in first quarter as outlook brightens
- Oil extends losses as investors brace for more rate hikes
U.S. job openings fall to almost two-year low in March The number of job openings available in the U.S. fell to its lowest level in almost two years in March, as the labor market in the world's largest economy shows signs of cooling in response to rising interest rates. Job vacancies in the country dropped to 9.590 million on the last business day of the month, down from an upwardly revised mark of 9.974M in February, according to the latest Job Openings and Labor Turnover Survey (or JOLTS) from the Labor Department. Economists had predicted that the figure would slip to 9.775M. Leading the decline in job openings were service-oriented industries that have become a focal point of the recent strength of the labor market. Vacancies in transportation, warehousing and utilities slipped by 144,000, while professional and business services fell by 135,000. Openings in the retail trade and healthcare sectors also decreased by 84,000 and 71,000, respectively.
Euro zone inflation picks up, but core unexpectedly slows Euro zone inflation accelerated last month but underlying price growth eased unexpectedly, adding to arguments for a smaller interest rate hike at the European Central Bank’s regular policy meeting on Thursday. Inflation has slowed sharply from double-digit readings late last year but remains far too high, making another rate hike a necessity and leaving only its size up for debate, with ECB policymakers split between a 25 and a 50-basis point move. Overall price growth in the 20 nations sharing the euro currency picked up to 7.0% in April from 6.9% a month earlier, Eurostat said on Tuesday, in line with expectations in a Reuters poll of economists. But the focus in recent months has been squarely on underlying or core inflation, a surprising rise in which has suggested that price pressures are mounting, and that the ECB lacks a firm understanding of where inflation could be heading.
Hong Kong's GDP rebounds 2.7% in first quarter as outlook brightens Hong Kong's economy grew 2.7% in the first quarter of 2023, John Lee, the leader of the Asian financial hub, said in a surprise announcement ahead of Tuesday's official release of the data, to snap four consecutive quarters of contraction. On a seasonally-adjusted quarterly basis, the economy grew 5.3% in the period from January to March, according to official data that confirmed Lee's earlier figure. The government said inbound tourism and domestic demand would remain the major drivers of economic growth this year, and visitor arrivals should recover further as transport and handling capacity continue to catch up.
Oil extends losses as investors brace for more rate hikes The 10-year government bond yield (interpolated) on the previous trading day was 2.52, -1.79 bps. The benchmark government bond yield (LB31DA) was 2.54, -2.00 bps. LB31DA could be between 2.20-2.70 Meantime, the latest closed US 10-year bond yields was 3.44, -15.00 bps. USDTHB on the previous trading day closed around 34.19 Moving in a range of 33.90-34.08 this morning. USDTHB could be closed between 33.80-34.30 today. Oil prices extended losses on Wednesday, after slumping about 5% to a five-week low in the previous session, as investors braced for more rate hikes this week that could dent energy demand. Brent futures fell 13 cents, or 0.2%, to $75.19 a barrel, while West Texas Intermediate crude (WTI) also fell 13 cents, or 0.2%, to $71.53. Both benchmarks closed at their lowest since March 24 in the previous session, when they also recorded their biggest one-day percentage declines since early January. The U.S. Federal Reserve is expected to hike interest rates by an additional 25 basis points on Wednesday to combat inflation, while the European Central Bank is also expected to raise rates at its regular policy meeting on Thursday.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
