- USDTHB: moving in the range 32.54-32.62 this morning supportive level at 32.50 resistance level at 32.75
- SET Index: 1,100.0 (+3.4%), 24 June 2025
- S&P 500 Index: 6,092.2 (+1.11%), 24 June 2025
- Thai 10-year government bond yield (interpolated): 1.675 (-1.08 bps), 24 June 2025
- US 10-year treasury yield: 4.30 (-4.0 bps), 24 June 2025
- Despite Trump’s ceasefire, both Israel and Iran reportedly violated it
- Fed Chair Powell reiterated the post-FOMC stance but left policy options open
- US consumer confidence stumbles, falls below forecast and previous figures
- EU prepares to retaliate If US imposes baseline tariffs on bloc
- Dollar retreats on ceasefire optimism
Despite Trump’s ceasefire, both Israel and Iran reportedly violated it
A ceasefire brokered by US President Donald Trump between Israel and Iran is being tested after a missile was launched into Israel, which Israeli authorities allege came from Iran. Iran has denied any missile activity since the ceasefire took effect. Despite the tension, the broader situation appears to remain under control. Meanwhile, CNN reports that early US intelligence assessments suggest recent strikes on Iran only temporarily set back its nuclear program by a few months, rather than destroying the facility. The White House acknowledged the assessment but disagreed with its findings.
Fed Chair Powell reiterated the post-FOMC stance but left policy options open
Fed Chair Jerome Powell, in Tuesday’s House testimony, reaffirmed the Fed’s wait-and-see approach on rate cuts, with no mention of a July move in his prepared remarks. During the Q&A, he leaned slightly dovish, saying rate cuts could come sooner if inflation cools or the labor market weakens—but stronger data could delay action. Powell stressed the Fed isn’t rushing, citing expectations of higher inflation and a resilient economy. He described policy as “modestly restrictive” and reiterated that cuts will come if inflation pressures ease, but without a set timeline. Among other members who spoke, Hammack, Bostic, Williams, and Barr struck a tone similar to Powell. Bostic still expects one 25bps cut this year, while Kashkari favors a wait-and-see approach for more clarity on the impact of tariffs on inflation.
US consumer confidence stumbles, falls below forecast and previous figures
US consumer confidence declined unexpectedly in the latest reading, dropping to 93 from a revised 98.4. The present situation index decreased by 6.4 points to 129.1, with more consumers viewing current business conditions negatively. The expectations index also fell by 4.6 points to 69.0, as fewer people anticipated improvements in business conditions or job availability.
EU prepares to retaliate If US imposes baseline tariffs on bloc
Bloomberg reports the EU plans retaliatory tariffs on $116 billion of U.S. goods, including Boeing aircraft, if the U.S. imposes baseline tariffs on EU imports. The EU aims to secure a deal before July 9, when tariffs could hit 50%, but expects some US duties to remain even after negotiations.
Dollar retreats on ceasefire optimism
The 10-year government bond yield (interpolated) on the previous trading day was 1.675, -1.08 bps. The benchmark government bond yield (LB353A) was 1.685, -1.39 bps. Meantime, the latest closed US 10-year bond yields was 4.30, -4.0 bps. USDTHB on the previous trading day closed around 32.75, moving in a range of 32.54 – 32.62 this morning. USDTHB could be closed between 32.50 – 32.75 today. The dollar weakened on Tuesday as safe-haven demand eased following US President Trump’s announcement of a ceasefire between Israel and Iran. Although both sides reportedly violated the ceasefire during the day, it appears to be holding after Trump’s intervention with Israel. Meanwhile, G10 currencies gained broadly, boosted by the dollar’s decline, with the yen and Swiss franc posting the strongest gains. The euro traded in a narrow range of 1.1575-1.1641. The yen outperformed, with USD/JPY hitting 144.52 despite no major currency-specific news.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
