- USDTHB: moving in the range 32.63-32.655 this morning supportive level at 32.55 resistance level at 32.75
- SET Index: 1,135.2 (-0.1%), 9 June 2025
- S&P 500 Index: 6,005.9 (+0.09%), 9 June 2025
- Thai 10-year government bond yield (interpolated): 1.690 (-0.34 bps), 9 June 2025
- US 10-year treasury yield: 4.49 (-2.0 bps), 9 June 2025
- Trump flags China as ‘tough’ before talks resume
- Inflation expectations drop across the board – NY Fed
- Japan confirms GDP contraction, backing BOJ’s cautious stance
- China trade with US slumps despite truce
- Consumer deflation continues in China as demand stalls
- Dollar eases ahead of US CPI, trade update
Trump flags China as ‘tough’ before talks resume
US–China trade talks in London will enter a second day, focusing on reducing tensions over technology and rare earths. The US is open to lifting certain tech export restrictions—such as those on chip design software and jet engine parts—if China agrees to ease limits on rare earth shipments. The discussions aim to rebuild trust following prior commitments made in Geneva and to address trade imbalances that have strained both economies.
Inflation expectations drop across the board – NY Fed
The NY Fed’s May survey showed a decline in consumer inflation expectations across 1-, 3-, and 5-year horizons. One-year expectations fell to 3.2%, while earnings growth expectations rose to 2.7%. Job market sentiment improved, with fewer consumers expecting higher unemployment or job loss. Food price expectations rose to 5.5%—the highest since Oct 2023—though expected increases in gas, rent, medical care, and tuition slowed.
Japan confirms GDP contraction, backing BOJ’s cautious stance
Japan's economy contracted in the first quarter, with GDP shrinking at an annualized pace of 0.2%, driven by weak net exports and inventory buildup.
China trade with US slumps despite truce
China’s exports rose nearly 5% in May to $316 billion, falling short of the 6% forecast, as a sharp 34.4% drop in shipments to the US—the steepest in over five years—offset gains elsewhere. Exports to other markets rose 11%, but overall momentum was weighed down. Imports declined 3.4%, marking drops in four of the past five months.
Consumer deflation continues in China as demand stalls
China’s consumer deflation extended into a fourth straight month in May, with CPI down 0.1% year-over-year as weak domestic demand and price wars outweighed holiday spending. Producer prices also fell sharply, marking 32 consecutive months of PPI deflation—the steepest drop in nearly two years.
Dollar eases ahead of US CPI, trade update
The 10-year government bond yield (interpolated) on the previous trading day was 1.690, -0.34 bps. The benchmark government bond yield (LB353A) was 1.681, +0.07 bps. Meantime, the latest closed US 10-year bond yields was 4.49, -2.0 bps. USDTHB on the previous trading day closed around 32.70, moving in a range of 32.63– 32.655 this morning. USDTHB could be closed between 32.55 – 32.75 today. The dollar softened slightly, though the index remained within a tight range due to limited news, the absence of major US economic data, and the Federal Reserve entering its pre-meeting blackout period. Market participants are also awaiting updates from the ongoing US-China discussions in London. Looking ahead, traders are focused on the upcoming US CPI data release on Wednesday. The euro recovered from an early decline and moved back toward the 1.1400 level. The Japanese yen fluctuated between gains and losses but ultimately edged higher against the dollar, as USD/JPY pulled back from the 145.00 level.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
