- USDTHB: moving in the range 33.535-33.575 this morning supportive level at 33.45 resistance level at 33.75
- SET Index: 1,159.0 (+1.1%), 25 Apr 2025
- S&P 500 Index: 5,525.2 (+0.7%), 25 Apr 2025
- Thai 10-year government bond yield (interpolated): 1.911 (-3.65 bps), 25 Apr 2025
- US 10-year treasury yield: 4.29 (-3.0 bps), 25 Apr 2025
- US Officials adopt ‘systematic’ framework for trade negotiations
- US consumer sentiment stays low in April amid tariff worries
- UK retail sales were soaring before tariffs hit confidence
- China may lift tariffs on some US goods amid rising costs
- China signals calm, vows emergency readiness
- Dollar strengthened at the close of a volatile week
US Officials adopt ‘systematic’ framework for trade negotiations
The Trump administration has created a framework for tariff negotiations, focusing on issues like tariffs and digital trade. The U.S. will host negotiators from 18 countries over three weeks to address tariff relief requests before a mid-July deadline. The plan aims to clarify a process that has left markets unsettled and trading partners uncertain.
US consumer sentiment stays low in April amid tariff worries
The University of Michigan's final April consumer sentiment index declined for the fourth consecutive month, even after an upward revision from the preliminary reading. The data was revised up to 52.2, above the expected 50.8, driven by a rise in current conditions to 59.8. While expectations improved slightly, the report highlighted persistent consumer concerns over trade policy, inflation, weak income growth, and a bleak labor market outlook.
UK retail sales were soaring before tariffs hit confidence
Retail sales in the UK reached their highest levels since 2021 in the first quarter, rising 0.4% MoM and beating expectations for a 0.4% decline. However, this momentum may not last, as consumer confidence fell in April due to global trade tensions and rising annual costs, with the confidence index dropping four points to -23. These challenges could threaten the UK’s fragile economic recovery.
China may lift tariffs on some US goods amid rising costs
China's government is weighing the possibility of suspending its 125% tariff on certain U.S. imports, such as medical devices and industrial chemicals like ethane. They're also considering removing the tariff on aircraft leases, since Chinese airlines pay third-party firms to lease some planes. These potential exemptions reflect similar actions recently taken by the U.S., which earlier this month excluded electronics from its 145% tariff on Chinese goods.
China signals calm, vows emergency readiness
China's Politburo vowed to prepare for external shocks with contingency plans and new monetary and financing tools to boost tech, consumption, and trade. It will avoid hasty stimulus moves, opting to cut rates and reserves at the right time, while staying committed to the March stimulus plan and long-term reforms.
Dollar strengthened at the close of a volatile week
The 10-year government bond yield (interpolated) on the previous trading day was 1.911, -3.65 bps. The benchmark government bond yield (LB353A) was 1.911, -3.50 bps. Meantime, the latest closed US 10-year bond yields was 4.29, -3.0 bps. USDTHB on the previous trading day closed around 33.46, moving in a range of 33.535 – 33.575 this morning. USDTHB could be closed between 33.45 – 33.75 today. The dollar index strengthened on Friday, fueled by reports suggesting China might ease US tariffs due to rising costs. However, sentiment soured after President Trump called high tariffs a "total victory" and stated they wouldn’t be removed unless China offers something in return. The dollar's decline was gradual, with earlier gains pared down by the European morning. G10 currencies were mostly lower or unchanged, with the Japanese yen leading the decline, driven by reports that China may consider US tariff exemptions.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
