- USDTHB: moving in the range 32.22-32.27 this morning, supportive level at 32.15 resistance level at 32.35
- SET Index: 1,288.1 (+0.7%), 29 Sep 2025
- S&P 500 Index: 6,661.2 (+0.26%), 29 Sep 2025
- Thai 10-year government bond yield (interpolated): 1.460 (-0.96 bps), 29 Sep 2025
- US 10-year treasury yield: 4.15 (-5.0 bps), 29 Sep 2025
- Trump sets 10% tariff on softwood lumber, 25% on cabinets
- Pending home sales surge, beating expectations
- Dovish BOJ member acknowledges growing need for rate hike amid risks
- Japanese economic data falls short of expectations
- Spanish inflation hits 15-month high, support ECB pause
- Dollar weakens ahead of crucial US labor data
Trump sets 10% tariff on softwood lumber, 25% on cabinets
President Trump has announced new tariffs targeting imported wood products, including a 10% levy on softwood timber and a 25% tariff on items like kitchen cabinets and upholstered furniture. Set to begin October 14, with some increases from January 1, the move follows a Commerce Department probe launched in March. The tariffs, imposed under Section 232 of the Trade Expansion Act, are aimed at boosting domestic manufacturing on national security grounds.
Pending home sales surge, beating expectations
Pending home sales rose 4% in August, well above expectations of +0.2% and the previous -0.3%. Month-over-month gains were seen in the Midwest, South, and West, while the Northeast declined; year-over-year sales increased across all regions.
Dovish BOJ member acknowledges growing need for rate hike amid risks
BoJ’s Noguchi stated that Japan is progressing toward its 2% inflation target and emphasized that the need for policy adjustment has increased, while also stressing the importance of maintaining flexibility in monetary policy. Although he acknowledged that the economy and prices still face downside risks, he noted that upside risks are becoming increasingly significant in shaping policy decisions.
Japanese economic data falls short of expectations
Japan’s factory output fell for a second month in August, dropping 1.2%—worse than the expected 0.9% decline—mainly due to weaker metal products and electronic machinery amid uncertainty from US tariffs. However, manufacturers remain optimistic, forecasting a 4.1% rise in September and 1.2% gain in October. Meanwhile, retail sales declined 1.1% year-on-year, the first drop since February 2022 and the largest since August 2021, missing expectations for a 1% increase.
Spanish inflation hits 15-month high, support ECB pause
Spanish inflation rose to a 15-month high of 3% in September, supporting the ECB’s likely decision to keep interest rates steady next month. While headline inflation increased from 2.7% in August as expected, underlying inflation eased to 2.3%, contrary to forecasts of a rise.
Dollar weakens ahead of crucial US labor data
The 10-year government bond yield (interpolated) on the previous trading day was 1.460, -0.96 bps. The benchmark government bond yield (LB353A) was 1.441, -1.36 bps. Meantime, the latest closed US 10-year bond yields was 4.15, -5.0 bps. USDTHB on the previous trading day closed around 32.24, moving in a range of 32.22 – 32.27 this morning. USDTHB could be closed between 32.15 – 32.35 today. The dollar weakened in a relatively quiet session with limited news ahead of a busy week dominated by the upcoming US jobs report on Friday. Fed officials Williams, Hammack, and Musalem spoke, while economic data came in the form of stronger-than-expected. In the G10 FX space, all currencies gained against the dollar, with the Japanese yen leading the pack, supported by BoJ’s Noguchi, who highlighted increasing upside risks in policy decisions and a growing need for policy adjustments.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
