- USDTHB: moving in the range 35.155-35.24 this morning supportive level at 35.10 resistance level at 35.30
· SET Index: 1,505.5 (-0.25%), 23 Jun 2023
· S&P 500 Index: 4,348.3 (-0.77%), 23 Jun 2023
· Thai 10-year government bond yield (interpolated): 2.60 (+0.96 bps), 23 Jun 2023
· US 10-year treasury yield: 3.74 (-6.0 bps), 23 Jun 2023
- US business activity growth slows in June, but services keep humming along
- UK economy stumbles but price pressures remain high
- Singapore May core inflation rises 4.7% y/y, matches forecast
- Dollar higher on safety bid as data spurs growth worries
US business activity growth slows in June, but services keep humming along U.S. business activity fell to a three-month low in June as services growth eased for the first time this year and the contraction in the manufacturing sector deepened, closely watched survey data out Friday showed. The overall picture, though, indicated U.S. economic growth ticked up a notch in the second quarter even as worries persist that the Federal Reserve's aggressive interest rate increases over the past year will trigger a recession. S&P Global said its flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, fell to a reading of 53.0 this month, the lowest since March. Nonetheless, it was the fifth straight month that the PMI remained above 50, indicating growth in the private sector.
UK economy stumbles but price pressures remain high Britain’s economy showed signs of a slowdown this month, but inflation pressures stayed high, according to a survey published a day after the Bank of England raised interest rates sharply and said it was ready to do more to tame price growth. S&P Global’s Composite Purchasing Managers’ Index (PMI) – covering businesses in the services and manufacturing sectors – dropped to a three-month low of 52.8 in June, a preliminary reading showed on Friday, down from 54.0 in May and hit by the weakest growth in new orders since January as factories suffered. The preliminary or ‘flash’ survey showed Britain’s services sector grew at its slowest pace in three months while the manufacturing sector contracted by the most in six months.
Singapore May core inflation rises 4.7% y/y, matches forecast Singapore's key consumer price gauge rose 4.7% year-on-year in May, official data showed on Friday. The May core inflation rate - which excludes private road transport and accommodation costs - eased from the 5% seen in April and matched a Reuters poll of economists. Headline inflation was up 5.1% year-on-year in May, compared with a forecast 5.5% increase in a Reuters poll. The slower growth in core inflation was due to a decline in inflation for services and food, according to a joint statement by the Monetary Authority of Singapore (MAS) and the trade ministry.
Dollar higher on safety bid as data spurs growth worries The 10-year government bond yield (interpolated) on the previous trading day was 2.60, +0.96 bps. The benchmark government bond yield (LB31DA) was 2.605, -0.50 bps. LB31DA could be between 2.30-2.80. Meantime, the latest closed US 10-year bond yields was 3.74, -6.00 bps. USDTHB on the previous trading day closed around 35.23 Moving in a range of 35.155-35.24 this morning. USDTHB could be closed between 35.00-35.50 today. The dollar rose against the euro on Friday after dismal business activity data from around the globe soured risk sentiment and as hawkish comments from central banks added to pressure on riskier currencies. U.S. business activity fell to a three-month low in June as services growth eased for the first time this year and the contraction in the manufacturing sector deepened, closely watched survey data out Friday showed. The overall picture, though, indicated U.S. economic growth ticked up a notch in the second quarter even as worries persist that the Federal Reserve's aggressive interest rate increases over the past year will trigger a recession. Earlier in the session data showed euro zone business growth virtually stalled in June. A downturn in manufacturing deepened, while activity in the bloc's dominant services sector barely expanded, as overall demand fell for the first time since January.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
