- USDTHB: moving in the range 32.40-32.49 this morning supportive level at 32.35 resistance level at 32.60
- SET Index: 1,119.9 (-0.6%), 4 July 2025
- S&P 500 Index: 6,279.4 (+0.83%), 3 July 2025
- Thai 10-year government bond yield (interpolated): 1.603 (-0.31 bps), 4 July 2025
- US 10-year treasury yield: 4.35 (+5.0 bps), 3 July 2025
- Trump signs new tax and spending plan
- Trump confirms tariff letters to 12 nations to be sent Monday
- Indonesia offers significant tariff cuts in bold US trade deal talks
- The US to curb AI chip exports to Malaysia, Thailand
- Thailand seeks to avert 36% US tariff
- The dollar slightly weakens amid thin liquidity due to the US holiday
Trump signs new tax and spending plan
President Trump signed a $3.4 trillion budget bill extending tax cuts, adding temporary benefits for tipped workers, and funding immigration enforcement. The bill, a major political win for Trump, passed narrowly despite opposition from Democrats and some Republicans. It includes cuts to nutrition and health programs that could remove nearly 12 million from Medicaid and is widely unpopular. Based on the event, Elon Musk announced the creation of a new political party.
Trump confirms tariff letters to 12 nations to be sent Monday
US President Donald Trump announced he signed letters to 12 countries detailing the tariff rates they will face on exports to the US, describing the offers as "take it or leave it" and set to be sent out Monday. Trump said tariffs could reach as high as 70%, with most starting August 1.
Indonesia offers significant tariff cuts in bold US trade deal talks
Indonesia is close to a trade deal with the US, offering nearly zero tariffs on over 1,700 products. The deal aims to boost exports, tighten foreign ownership rules, and secure supply chains. It also includes increased imports of US gas and farm goods, more US military purchases, and better conditions for American companies.
The US to curb AI chip exports to Malaysia, Thailand
The Trump administration plans to restrict AI chip exports from firms like Nvidia to Malaysia and Thailand to curb suspected smuggling into China. A draft Commerce Department rule would repeal global AI chip controls but maintain restrictions on China and over 40 other countries. This marks the first step in Trump’s overhaul of prior AI export policies, though it leaves security issues around overseas chip use unaddressed.
Thailand seeks to avert 36% US tariff
Minister Pichai Chunhavajira told Bloomberg on Sunday that Thailand is offering the US greater market access and increased purchases of energy and Boeing jets to avoid a 36% export tariff proposed by the Trump administration. The plan aims to cut Thailand’s $46 billion trade surplus with the US by 70% in five years and reach balance within eight. Pichai expects to submit the revised offer before the July 9 deadline.
The dollar slightly weakens amid thin liquidity due to the US holiday
The 10-year government bond yield (interpolated) on the previous trading day was 1.603, -0.31 bps. The benchmark government bond yield (LB353A) was 1.613, -0.48 bps. Meantime, the latest closed US 10-year bond yields was 4.35, +5.0 bps. USDTHB on the previous trading day closed around 32.40, moving in a range of 32.40 – 32.49 this morning. USDTHB could be closed between 32.35 – 32.60 today. The dollar slightly softened on Friday, slipping down during light trading amid the holiday and ending a two-day rally following better-than-expected nonfarm payroll data.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
