- USDTHB: moving in the range 31.65-31.67 this morning, supportive level at 31.60 resistance level at 31.80
- SET Index: 1,266.1 (+0.1%), 8 Sep 2025
- S&P 500 Index: 6,495.2 (+0.21%), 8 Sep 2025
- Thai 10-year government bond yield (interpolated): 1.251 (+0.16 bps), 8 Sep 2025
- US 10-year treasury yield: 4.05 (-5.0 bps), 8 Sep 2025
- French PM Bayrou to resign after losing confidence vote
- Japan GDP growth revised up as spending resilience continues
- China’s exports weaken amid steep US drop
- Indonesia removes finance minister Sri Mulyani
- The dollar slides, long-dated yields fall on weak NFP report
French PM Bayrou to resign after losing confidence vote
French Prime Minister François Bayrou lost a confidence vote in parliament, with 194 votes in favor and 364 against. President Emmanuel Macron is expected to accept Bayrou’s resignation and appoint a new premier in the coming days, who will face the immediate challenge of passing a budget. The next government inherits a worsening fiscal outlook, with France holding the euro area’s widest deficit.
Japan GDP growth revised up as spending resilience continues
Japan’s economy grew at an annualized 2.2% in Q2, beating the initial 1.0% estimate and marking five straight quarters of expansion. While growth was underpinned by stronger consumer spending and steady capital investment, it wasn’t enough to save Prime Minister Shigeru Ishiba’s position. Personal consumption was revised up to 0.4%, while business spending was trimmed to a 0.6% gain.
China’s exports weaken amid steep US drop
China’s export growth slowed to a six-month low in August, as shipments to the US plunged at an accelerating pace. Exports rose 4.4% y/y to $322 billion, missing the median forecast of 5.5%, while imports edged up 1.3%, resulting in a $102 billion trade surplus. Exports to the US slumped 33% — the fifth consecutive month of double-digit declines — while shipments to ASEAN surged nearly 23%, exports to the EU rose 10%, and those to Africa jumped 26%. However, despite headline growth, falling prices and intense competition are weighing on margins, with industrial profits down nearly 2% in the year through July.
Indonesia removes finance minister Sri Mulyani
Sri Mulyani Indrawati’s sudden dismissal as Indonesia’s finance minister has unsettled investors, who saw her as a key fiscal disciplinarian. Her replacement, Purbaya Yudhi Sadewa, vows to boost growth, but concerns remain over potential capital flight and whether fiscal restraint will continue.
The dollar slides, long-dated yields fall on weak NFP report
The 10-year government bond yield (interpolated) on the previous trading day was 1.251, +0.16 bps. The benchmark government bond yield (LB353A) was 1.229, +0.09 bps. Meantime, the latest closed US 10-year bond yields was 4.05, -5.0 bps. USDTHB on the previous trading day closed around 31.97, moving in a range of 31.65 – 31.67 this morning. USDTHB could be closed between 31.60 – 31.80 today. The dollar extended its recent decline, pressured by softer longer-dated US treasury yields following another disappointing NFP report. Market focus also shifted to President Trump’s announcement of his final three candidates to replace Fed Chair Powell: Former Fed Governor Warsh, current Fed Governor Waller, and NEC Director Hassett, adding some uncertainty around future Fed policy. Meanwhile, the euro benefited from the dollar’s weakness despite political turbulence in France, where PM Bayrou suffered a heavy defeat in the confidence vote. The British pound found firmer footing around the 1.3500 handle, supported by broad dollar softness across G10 currencies. The Japanese yen remained flat versus the dollar, after earlier weakness amid political uncertainty in Japan, which may delay the Bank of Japan’s anticipated policy normalization.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
