- USDTHB: moving in the range 34.46-34.52 this morning supportive level at 34.40 resistance level at 34.60
· SET Index: 1,526.3 (+0.16%), 25 Jul 2023
· S&P 500 Index: 4,567.5 (+0.28%), 25 Jul 2023
· Thai 10-year government bond yield (interpolated): 2.60 (+0.70 bps), 25 Jul 2023
· US 10-year treasury yield: 3.91 (+5.0 bps), 25 Jul 2023
- US consumer confidence hits two-year high; recession fears linger
- Japan's business services inflation slows in June
- South Korea consumer sentiment climbs for fifth month
- US dollar flat as market awaits clarity from central banks
US consumer confidence hits two-year high; recession fears linger U.S. consumer confidence increased to a two-year high in July amid a persistently tight labor market and receding inflation, bolstering the economy's prospects in the near term. But the economy is not out of the woods, with the survey from the Conference Board offering mixed signals. Consumers remain fearful of a recession over the next year following hefty interest rate hikes from the Federal Reserve. While more consumers planned to buy a motor vehicle or house in the next six months, fewer anticipated purchasing major household appliances like refrigerators and washing machines. Consumers also continued to report that they intended to spend less on discretionary services, including travel, recreation and gambling.
Japan's business services inflation slows in June Japan's business-to-business service inflation slowed in June, data showed on Wednesday, suggesting that companies remained slow in passing on rising labor costs despite a tight job market. The services produce price index, which measures the prices companies charge each other for services, rose 1.2% in June from a year earlier, Bank of Japan (BOJ) data showed, slowing from a revised 1.7% gain in May. The data comes ahead of the central bank's closely watched meeting which concludes on Friday, when the board will release fresh quarterly growth and inflation forecasts.
South Korea consumer sentiment climbs for fifth month South Korean consumers' sentiment improved for a fifth consecutive month to a 15-month high in July, with their inflation expectations resuming a decline. The consumer sentiment index rose to 103.2 in July, from 100.7 in June, and was the highest reading since April 2022, the Bank of Korea's monthly survey of consumers showed. The biggest driver, according to the sub-indexes, was an improvement in consumers' outlook for the economy, followed by improvements in their assessment of current economic conditions as well as current living conditions. The median inflation expectation for the next 12 months fell to 3.3%, the lowest since May 2022, after staying flat at 3.5% in the previous month, which followed three straight months of decline.
US dollar flat as market awaits clarity from central banks The 10-year government bond yield (interpolated) on the previous trading day was 2.60, +0.70 bps. The benchmark government bond yield (LB31DA) was 2.60, +1.00 bps. LB31DA could be between 2.30-2.80. Meantime, the latest closed US 10-year bond yields was 3.91, +5.00 bps. USDTHB on the previous trading day closed around 34.52 Moving in a range of 34.46-34.52 this morning. USDTHB could be closed between 34.20-34.70 today. The dollar was flat against a basket of its major peers, as investors hope a trio of central bank meetings this week will provide guidance on the outlook for monetary policy. Signs of an extremely resilient U.S. economy helped the currency recover from a recent 15-month low, as well as persistent weakness in Europe. U.S. consumer confidence increased to a two-year high in July amid a persistently tight labor market and receding inflation, bolstering the economy's prospects in the near term. The dollar index fell 0.108% to 101.280, after hitting a two-week peak earlier of 101.65. The euro fell for a fifth successive session and was down 0.13% to $1.1048 as evidence of a slowdown in Europe builds after a recent survey showed demand for loans in the euro zone hitting a record low in the second quarter, and separate data showed deterioration of business confidence in Germany this month. This follows disappointing Purchasing Manager Indexes that came in below expectations for the euro zone as a whole.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
