- USDTHB: moving in the range 35.30-35.45 this morning supportive level at 35.25 resistance level at 35.50
· SET Index: 1,406.6 (-0.53%), 23 Nov 2023
· S&P 500 Index: 4,556.6 (+0.41%), 22 Nov 2023
· Thai 10-year government bond yield (interpolated): 3.02 (+0.20 bps), 23 Nov 2023
· US 10-year treasury yield: 4.41 (+0.00 bps), 23 Nov 2023
- Euro zone business activity fell again in Nov, stoking recession fears
- Japan's factory activity shrinks for 6th month on weak demand
- Japan core CPI inflation grows slightly less than expected in Oct
- Dollar index slips below 104 amid Thanksgiving, European PMI data rises
Euro zone business activity fell again in Nov, stoking recession fears The downturn in euro zone business activity eased in November but remained broad-based, suggesting the bloc's economy will contract again this quarter as consumers continue to rein in spending, a survey showed. Last quarter the economy contracted 0.1%, official data has shown, and Thursday's flash Composite Purchasing Managers' Index (PMI) for November indicated the 20-country currency union is on track to do so again in the fourth quarter. HCOB's PMI, compiled by S&P Global and seen as a good guide of overall economic health, ticked up to 47.1 from October's near three-year low of 46.5 but remained firmly below the 50-mark separating growth from contraction. Still, Germany's downturn showed signs of easing with both manufacturing and services activity falling more slowly than in previous months, raising hopes a recession in Europe's largest economy might be shallower than expected
Japan's factory activity shrinks for 6th month on weak demand Japan's factory activity shrank for a sixth straight month in November, while modest growth in the service sector was little changed, a business survey showed on Friday, highlighting the fragility of the economy amid soft demand and inflation. The au Jibun Bank flash Japan manufacturing purchasing managers' index (PMI) slipped to 48.1 in November from 48.7 in October. The index has remained below the 50.0 threshold that separates contraction from expansion since June. Both output and new orders fell further in November and the pace of contraction in incoming business accelerated. While pressure on capacity continued to ease, manufacturers reduced staffing for a second straight month.
Japan core CPI inflation grows slightly less than expected in Oct Japanese core consumer inflation grew slightly below expectations in October as food prices eased, although the reading still remained well above the Bank of Japan’s target as overall inflation accelerated. National core consumer price index inflation, which excludes volatile fresh food prices, grew 2.9% year-on-year in October, data from the Statistics Bureau showed on Friday. The reading was just below analysts' expectations of 3% but accelerated from the 2.8% seen last month. The reading was also well above the BOJ’s 2% annual target, indicating that inflationary conditions still remained largely elevated in the country. Friday’s reading showed core CPI remaining above the BOJ’s annual target for 19 consecutive months. A core reading that excludes both fresh food and fuel prices was up 4% in October, slowing slightly from 4.2% in the prior month. But the reading remained close to 40-year peaks seen earlier this year.
Dollar index slips below 104 amid Thanksgiving, European PMI data rises The 10-year government bond yield (interpolated) on the previous trading day was 3.02, +0.20 bps. The benchmark government bond yield (LB31DA) was 3.01, +1.00 bps. Meantime, the latest closed US 10-year bond yields was 4.41, +0.00 bps. USDTHB on the previous trading day closed around 35.25. Moving in a range of 35.30-35.45 this morning. USDTHB could be closed between 35.25-35.50 today. As US traders took a break for Thanksgiving today, the US Dollar Index (DXY), a measure of the currency's strength against a basket of other major currencies, dipped below the 104 mark. This movement suggests a potential weekly decline for the dollar. The quietness in the markets coincides with the annual holiday closure, which often leads to lower trading volumes and subdued market activity. European economic indicators provided some activity in the otherwise calm market environment. Purchasing Managers' Index (PMI) figures in Europe showed an increase from October's lows, hinting at a possible shift in economic momentum. Investors are now eyeing Friday's release of US PMI numbers, which could further influence the direction of the USD if they indicate a decline.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
