- USDTHB: moving in the range 32.20-32.22 this morning, supportive level at 32.10 resistance level at 32.35
- SET Index: 1,288.3 (+0.8%), 25 Sep 2025
- S&P 500 Index: 6,604.7 (-0.50%), 25 Sep 2025
- Thai 10-year government bond yield (interpolated): 1.413 (+5.79 bps), 25 Sep 2025
- US 10-year treasury yield: 4.18 (+2.0 bps), 25 Sep 2025
- US GDP beats forecasts with 3.8% growth
- Weekly US jobless claims drop
- Trump slaps 100% tariff on pharma imports
- Tokyo CPI unexpectedly holds steady
- Dollar extends rally on strong US data
US GDP beats forecasts with 3.8% growth
US Q2 GDP was revised up to 3.8 percent, surpassing both the consensus for an unchanged reading at 3.3 percent and the highest forecast at 3.7 percent, driven primarily by stronger consumer spending, which offset weaker exports. Consumer spending saw a sharp upward revision to 2.5 percent from 1.6 percent, while corporate goods investment was revised down to just 0.2 percent from 2.0 percent.
Weekly US jobless claims drop
Initial jobless claims for the week ending September 20 fell to 218,000, below expectations of 235,000 and the prior 232,000, marking a print beneath the forecast range and pulling the four-week average down to 237,500. Seasonal adjustments had anticipated a modest weekly drop. Meanwhile, continued claims for the week ending September 13, which aligns with the payrolls survey period, edged down slightly to 1.926 million, below the expected 1.935 million.
Trump slaps 100% tariff on pharma imports
President Donald Trump announced a new round of trade tariffs Thursday evening, including a 100% levy on imported branded and patented pharmaceutical products. Other measures include a 25% tariff on heavy trucks, 50% on kitchen and bathroom fittings, and 30% on upholstered furniture, all set to take effect October 1. Trump stated that companies building US manufacturing plants will be exempt, provided construction has at least begun.
Tokyo CPI unexpectedly holds steady
Tokyo’s consumer inflation unexpectedly held steady in September, bolstered by temporary subsidies, reinforcing the Bank of Japan’s cautious approach to tightening. Core CPI (ex-fresh food) rose 2.5% year-on-year, below the 2.8% forecast. The core-core measure (excluding fresh food and energy) eased to 2.5% from 3.0%, while headline CPI dipped slightly to 2.5% from 2.6%.
Dollar extends rally on strong US data
The 10-year government bond yield (interpolated) on the previous trading day was 1.413, +5.79 bps. The benchmark government bond yield (LB353A) was 1.382, +2.51 bps. Meantime, the latest closed US 10-year bond yields was 4.18, +2.0 bps. USDTHB on the previous trading day closed around 32.15, moving in a range of 32.20 – 32.22 this morning. USDTHB could be closed between 32.10 – 32.35 today. The dollar extended Wednesday’s rally on Thursday, lifted by a wave of strong US data that painted a broadly positive picture of the economy. Q2 GDP was revised higher, jobless claims fell sharply to 218,000—below the forecast range—and durable goods orders surged. The US advanced goods trade deficit also narrowed more than expected. A flurry of Fed speak (Miran, Goolsbee, Schmid, Bowman, Logan) offered little new insight, with officials largely sticking to familiar tones. The index climbed to 98.602, its highest level since early September. Focus now turns to Friday’s August PCE report, with Chair Powell earlier this week noting expectations for headline PCE at 2.7 percent year-over-year and core at 2.9 percent, unchanged from July but likely driven by rising goods prices, particularly due to tariffs. G10 FX weakened across the board amid the dollar’s strength, with little currency-specific news—though the CHF posted modest gains following the SNB.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
