- USDTHB: moving in the range 34.60-34.69 this morning supportive level at 34.50 resistance level at 34.75
· SET Index: 1,562.4 (+0.71%), 13 Jun 2023
· S&P 500 Index: 4,369.0 (+0.69%), 13 Jun 2023
· Thai 10-year government bond yield (interpolated): 2.57 (-0.97 bps), 13 Jun 2023
· US 10-year treasury yield: 3.84 (+11.00 bps), 13 Jun 2023
- US consumer price increases slow; underlying inflation sticky
- Australia business activity slows sharply in May, more risks ahead
- S.Korea's jobless rate falls to record low, factory sector still shaky
- Dollar skids to three-week low as US inflation data reinforces Fed pause view
US consumer price increases slow; underlying inflation sticky U.S. consumer prices barely rose in May and the annual increase in inflation was the smallest in more than two years, though underlying price pressures remained strong, supporting the view that the Federal Reserve would keep interest rates unchanged on Wednesday while adopting a hawkish posture. The CPI increased 0.1% last month after gaining 0.4% in April. Gasoline prices dropped 5.6%, while electricity declined for a third straight month. Utility gas also cost less. But food prices rose 0.2% after being unchanged for two consecutive months as fruits and vegetables, nonalcoholic beverages and other food products became more expensive. Meat and fish, however, were cheaper, while egg prices fell 13.8%, the most since January 1951. It cost more to dine out. In the 12 months through May, the CPI climbed 4.0%. That was the smallest year-on-year increase since March 2021 and followed a 4.9% rise in April.
Australia business activity
slows sharply in May, more risks ahead Australia's business conditions
eased sharply in May, dented by slower gains in sales and employment,
suggesting demand growth is moderating in the wake of the central bank's most
aggressive tightening campaign in its modern history. The survey from National
Australia Bank (OTC:NABZY) Ltd (NAB) released on Tuesday showed its index of
business conditions fell by a sizeable seven points to +8 in May, but they
remained just above the long-run average. The volatile measure of confidence
dipped back to negative territory, falling to -4 from April's 0, showing that
the number of firms that are pessimistic outnumbered those that are optimistic.
The survey's measure of sales declined 8 points to +14 in May, the employment
index fell 7 points to +4, and forward orders, a leading indictor of demand,
fell to -5 in May.
S.Korea's jobless rate falls to record low, factory sector still shaky South Korea's jobless rate fell in May to a record low, official data showed on Wednesday, indicating a still robust labor market although conditions were softer in the manufacturing sector amid slowing economic growth. The employment report provides a brighter backdrop to the country as it navigates external challenges from tighter monetary policy and weak demand in key trading partner economies. The country's seasonally adjusted unemployment rate dropped to 2.5% in May from 2.6% in April, the lowest since the data series began in June 1999, according to Statistics Korea. The number of employed people rose by 351,000 from the same month a year earlier, compared with increases of 354,000 in the previous month and 1,135,000 in January 2022, the peak of the current employment growth streak that started in March 2021.
Dollar skids to three-week low as US inflation data reinforces Fed pause view The 10-year government bond yield (interpolated) on the previous trading day was 2.57, -0.97 bps. The benchmark government bond yield (LB31DA) was 2.56, +1.00 bps. LB31DA could be between 2.30-2.80. Meantime, the latest closed US 10-year bond yields was 3.84, +11.00 bps. USDTHB on the previous trading day closed around 34.55 Moving in a range of 34.60-34.69 this morning. USDTHB could be closed between 34.50-35.00 today. The dollar dropped to a three-week low on Tuesday on news of the smallest annual increase in inflation last month in more than two years, cementing expectations that the Federal Reserve will pause interest rate hikes at its two-day meeting ending on Wednesday. The dollar index slid as low as 103.04 following the data and was last down 0.3% at 103.29. The euro rose 0.3% to $1.0793 after climbing to $1.0824, its highest since May 22. Against the yen, the dollar rose 0.4% to 140.17 yen. So-called core CPI gained 0.4% in May, the same percentage rise for the third straight month.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
