- USDTHB: moving in the range 34.94-35.01 this morning supportive level at 34.80 resistance level at 35.05
· SET Index: 1,400.4 (+0.39%), 20 Dec 2023
· S&P 500 Index: 4,698.4 (-1.48%), 20 Dec 2023
· Thai 10-year government bond yield (interpolated): 2.77 (-4.31 bps), 20 Dec 2023
· US 10-year treasury yield: 3.86 (7.00 bps), 20 Dec 2023
- US consumer confidence rises to five-month high; home sales eke out gains
- German consumer sentiment to rise with start of new year
- Japan government lifts economic growth estimates
- Dollar rises on safe-haven bid, big UK inflation drop hits pound
US consumer confidence rises to five-month high; home sales eke out gains The Conference Board's consumer confidence index increased to 110.7 this month, the highest reading since July, from a downwardly revised 101.0 in November. Economists polled by Reuters had forecast the index would rise to 104.0 from the previously reported 102.0. The increase in confidence was largest among households in the 35-54 age group and with annual incomes of $125,000 and above. The survey's present situation index, based on consumers' assessment of current business and labor market conditions, rose to 148.5 from 136.5 last month. Its expectations index, based on consumers' short-term outlook for income, business and labor market conditions, jumped to 85.6 from 77.4 in November. Consumers' perceptions of a probable recession over the next 12 months were the lowest for the year, though two-thirds still viewed a downturn as possible in 2024.
German consumer sentiment to rise with start of new year German consumer sentiment is set to improve with the start of the new year, though whether the rise marks the beginning of a sustained recovery from a very low level for Europe's biggest economy remains to be seen. The consumer sentiment index rose to -25.1 points heading into January from a revised -27.6 the month before and above expectations of analysts polled by Reuters for a -27.0 reading. A jump in income expectations in particular helped push up overall sentiment, while both the willingness to buy and positive economic expectations also increased, according to the survey of around 2,000 consumers published by the GfK institute and the Nuremberg Institute for Market Decisions (NIM).
Japan government lifts economic growth estimate Japan's government on Thursday slightly raised its economic growth projections for this fiscal year from its previous estimates, as external demand is likely to more than offset weak domestic consumption. In the twice-yearly economic outlook, the real economic growth rate for fiscal 2023/24 is estimated at 1.6%, up from 1.3% seen half a year ago as external demand contributed 1.4 percentage points to overall growth, due to a recovery in inbound tourism and automobile output. Auto manufacturing had been hit earlier by chip shortages. The economic growth rate is forecast to slow down slightly to 1.3% in the next fiscal year starting in April as the external demand contribution weakens sharply reflecting a rebound in domestic consumption.
Dollar rises on safe-haven bid, big UK inflation drop hits pound The 10-year government bond yield (interpolated) on the previous trading day was 2.77, -4.31 bps. The benchmark government bond yield (LB31DA) was 2.82, -8.00 bps. Meantime, the latest closed US 10-year bond yields was 3.86, -7.00 bps. USDTHB on the previous trading day closed around 34.92 Moving in a range of 34.94-35.01 this morning. USDTHB could be closed between 34.80-35.05 today. The dollar rose against a basket of currencies on Wednesday as a late-session selloff on Wall Street boosted the US currency's safe-haven appeal, and as data on sharply falling UK inflation prompted a steep drop in the British pound. US stocks closed lower on Wednesday after an abrupt mid-afternoon sell-off snapped a rally which had been driven by falling interest rates and the Federal Reserve's dovish turn. The dollar was last up 0.28% at 102.42, on pace to break a two-day losing streak. The index had dropped about 1.5% for the week ended Tuesday after last week's Federal Reserve meeting prompted traders to pencil in several rate cuts in 2024, starting as early as March. US Federal Reserve officials have since been pushing back on the idea of rapid rate cuts next year.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
