- USDTHB: moving in the range 34.885-35.00 this morning supportive level at 34.75 resistance level at 35.00
· SET Index: 1,545.6 (+1.29%), 22 Aug 2023
· S&P 500 Index: 4,387.6 (-0.28%), 22 Aug 2023
· Thai 10-year government bond yield (interpolated): 2.77 (+2.38 bps), 22 Aug 2023
· US 10-year treasury yield: 4.34 (+0.00 bps), 22 Aug 2023
- US existing home sales slide again, but prices up from a year earlier
- UK factory output drops at fastest rate in almost 3 years
- Japan's factory activity shrinks at slower pace in Aug
- Dollar firmer as traders look to Jackson Hole gathering
US existing home sales slide again, but prices up from a year earlier U.S. existing home sales dropped to a six month-low in July as homeowners who are locked into cheap mortgages refrained from selling their properties with the cost of new mortgages for another home at the highest levels in decades. That limited inventory, however, helped drive prices higher on a year-over-year basis for the first time since January. Existing home sales fell 2.2% in July to a seasonally adjusted annual rate of 4.07 million units, the lowest level since January, from an unrevised 4.16 million units in June, the National Association of Realtors said on Tuesday. Economists polled by Reuters had forecast home sales would be little changed at 4.15 million units. Home resales, which account for a big chunk of U.S. housing sales, fell 16.6% on a year-on-year basis in July.
UK factory output drops at fastest rate in almost 3 years British manufacturing output dropped over the three months to August by the most in almost three years, according to an industry survey on Tuesday that pointed to a further drop in new orders. The Confederation of British Industry's (CBI) net balance of output for the three months to August fell to -19 from +3 in July, the lowest reading since September 2020. The net balance shows the difference between the share of factories reporting rising output against those seeing a fall. Output dropped in 15 out of 17 manufacturing sub-sectors, with the car industry and mechanical engineering among the worst performers. The CBI's gauge of new orders also fell in August, to -15 from -9.
Japan's factory activity shrinks at slower pace in Aug Japan's factory activity shrank for a third straight month in August amid higher oil prices and uncertainty over the global economic outlook, although the pace of decline slowed. The au Jibun Bank flash Japan manufacturing purchasing managers' index (PMI) edged up to a seasonally adjusted 49.7 in August from 49.6 in July. The index remained below the 50.0 index point threshold, which separates contraction from expansion. Output and new orders in the manufacturing sector shrank for a third straight month in August but at a slower pace than the previous month. Employment was unchanged, snapping 28 straight months of expansion. Input prices rose at the fastest pace in three months, with firms citing higher crude oil prices. But output price inflation eased to the weakest in about two years.
Dollar firmer as traders look to Jackson Hole gathering The 10-year government bond yield (interpolated) on the previous trading day was 2.77, +2.38 bps. The benchmark government bond yield (LB31DA) was 2.74, +2.00 bps. Meantime, the latest closed US 10-year bond yields was 4.34,+0.00 bps. USDTHB on the previous trading day closed around 35.08. Moving in a range of 34.885-35.00 this morning. USDTHB could be closed between 34.75-35.00 today. The U.S. dollar edged higher against a basket of currencies on Tuesday, nearing a two-month peak touched last week, as traders awaited the Jackson Hole Symposium later in the week. The U.S. dollar index - which measures the currency against six major counterparts - was up 0.2% at 103.57. The index was sitting just shy of the two-month high of 103.68, reached last week as worries over China's economy and bets U.S. interest rates will stay high lifted the greenback. Overall moves in currency markets were expected to be limited ahead of a speech by Federal Reserve Chair Jerome Powell at the Fed's central bank symposium at Jackson Hole, Wyoming, set for Aug. 24-26. Traders were also paying attention to a summit of BRICS major emerging economies - Brazil, Russia, India, China and South Africa - underway in Johannesburg for any news on Chinese stimulus.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
