- USDTHB: moving in the range 34.425-34.515 this morning supportive level at 34.35 resistance level at 34.60
· SET Index: 1,429.6 (-0.26%), 3 Jan 2024
· S&P 500 Index: 4,704.8 (-0.80%), 3 Jan 2024
· Thai 10-year government bond yield (interpolated): 2.74 (+1.37 bps), 3 Jan 2024
· US 10-year treasury yield: 3.95 (-4.00 bps), 3 Jan 2024
- US job openings, quits near three-year low as labor market eases
- Japan Dec factory activity extends declines on market uncertainty
- China services activity rises more than expected in Dec
- Dollar rebounds as traders rethink Fed rate cut expectations
US job openings, quits near three-year low as labor market eases Job openings, a measure of labor demand, were down 62,000 to 8.790 million by the last day of November, the Labor Department's Bureau of Labor Statistics said in its monthly Job Openings and Labor Turnover Survey, or JOLTS report. That was the lowest level since March 2021. Data for October was revised slightly up to show 8.852 million unfilled positions instead of the previously reported 8.733 million. Economists polled by Reuters had forecast 8.850 million job openings. Vacancies have declined from a record high of 12.0 million in March 2022 following 525 basis points worth of rate hikes from the Fed. There were 128,000 fewer open positions in the transportation, warehousing and utilities industry. Unfilled jobs fell by 58,000 in the federal government. But vacancies increased by 63,000 in the wholesale trade sector. The job vacancies rate was unchanged at 5.3%.
Japan Dec factory activity extends declines on market uncertainty Japan's factory activity contracted at the steepest pace in 10 months in December as output and new orders slid on market uncertainty, a private-sector survey showed. The final au Jibun Bank Japan manufacturing purchasing managers' index (PMI) shrank to 47.9 in December from 48.3 in November. It was the weakest reading since the index hit 47.7 in February and stayed below the 50.0 threshold that separates growth from contraction for a seventh straight month. Main subindexes of output and new orders fell at the fastest pace since February over market uncertainty both in Japan and overseas. The survey found electronics demand was especially weak, and some respondents pointed to sluggish investment activity.
China services activity rises more than expected in Dec China’s service sector grew past expectations in December, as continued stimulus measures helped push up local demand, while a rout in overseas orders also eased. The Caixin Services purchasing managers index (PMI) grew 52.9 in December, handily beating expectations of 51.6 and accelerating from the 51.5 seen in the prior month. The reading marked a somewhat positive end to the year for China’s service sector, which has so far managed to duck a contraction seen in manufacturing activity. Caixin analysts said that companies in the service sector reported better market conditions and a sustained improvement in business conditions- which pushed up employment and inflation. Service sector firms also turned more positive over their prospects in 2024, the Caixin survey showed.
Dollar rebounds as traders rethink Fed rate cut expectations The 10-year government bond yield (interpolated) on the previous trading day was 2.74, +1.37 bps. The benchmark government bond yield (LB31DA) was 2.72, +2.0 bps. Meantime, the latest closed US 10-year bond yields was 3.91, -4.00 bps. USDTHB on the previous trading day closed around 34.26 Moving in a range of 34.425-34.515 this morning. USDTHB could be closed between 34.35-34.60 today. The dollar edged higher on Thursday as investors reassessed their expectations of the scale of rate cuts by the Federal Reserve this year, with an air of caution hanging over markets after an impressive risk rally last month. The greenback was on the front foot in early deals in Asia, as trading returned to full swing with Japan back from an extended New Year break. Against the yen, the dollar stood near a two-week peak and last bought 143.09 yen, having jumped more than 0.9% against the Japanese currency in the previous session, its best day since October. The Australian dollar, often used as a proxy for risk appetite, languished near Wednesday's two-week low of $0.6703 and last bought $0.6734.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
