- USDTHB: moving in the range 34.95-35.005 this morning supportive level at 34.80 resistance level at 35.10
- SET Index: 1,297.8 (+0.06%), 13 Aug 2024
- S&P 500 Index: 5,434.4 (+1.67%), 13 Aug 2024
- Thai 10-year government bond yield (interpolated): 2.587 (-1.67 bps), 13 Aug 2024
- US 10-year treasury yield: 3.85 (-5.0 bps), 13 Aug 2024
- US producer prices rise less than expected in July
- German investor morale tumbles in August
- China new loans drop more than expected in July on weak demand
- Dollar drops as markets await US inflation data
US producer prices rise less than expected in July
In July, U.S. producer prices rose less than anticipated, with the increase in the cost of goods offset by cheaper services, suggesting that inflation is continuing to moderate. The producer price index (PPI) for final demand grew by 0.1% last month, following a 0.2% rise in June. Over the past year, the PPI increased by 2.2%, down from 2.7% in June. When excluding more volatile items like fuel and food, the core PPI showed no change in July from the previous month, down from a revised 0.3% increase in June, and the annual rate slowed to 2.4% from 3.0%. As inflation slows and the labor market cools, financial markets expect the Federal Reserve might begin easing its policies in September.
German investor morale tumbles in August
German investor morale darkened more than expected in August, posting its strongest decline in two years, the ZEW economic research institute said on Tuesday. The economic sentiment index fell to 19.2 points from 41.8 points in July. Analysts had pointed to a reading of 32.0. Economic expectations are still affected by a high level of uncertainty, driven by ambiguous monetary policy, disappointing business data from the US economy and growing concern about an escalation of the conflict in the Middle East. The assessment of the current economic situation in Germany also declined, falling to minus 77.3 points from minus 68.9 in the previous month.
China new loans drop more than expected in July on weak demand
In July, China's bank lending fell significantly more than anticipated, affected by weak credit demand and seasonal influences, despite the central bank's commitment to enhance economic support. Chinese banks issued 260 billion yuan ($36.26 billion) in new loans, which was almost 88% lower than the previous month and fell short of analysts' predictions. Analysts had forecasted new loans would reach 450 billion yuan, considering that July typically sees lower credit growth. The new loans in July decreased from June's 2.13 trillion yuan and were also lower compared to 345.9 billion yuan in the same month last year.
Dollar drops as markets await US inflation data
The 10-year government bond yield (interpolated) on the previous trading day was 2.587, -1.67 bps. The benchmark government bond yield (LB346A) was 2.58, -2.00 bps. Meantime, the latest closed US 10-year bond yields was 3.85, -5.0 bps. USDTHB on the previous trading day closed around 35.16 moving in a range of 34.95 – 35.005 this morning. USDTHB could be closed between 34.80 - 35.10 today. The dollar faced downward pressure, and the index fell below the 103.00 mark following weaker-than-anticipated PPI data. The Euro gained from the dollar's decline and approached the 1.1000 level. Meanwhile, the Japanese yen slowly regained its initial losses, with the USD/JPY eventually dropping below 147.00 after US yields eased following the PPI report.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics,
Investing, CEIC
