- USDTHB: moving in the range 32.445-32.465 this morning, supportive level at 32.35 resistance level at 32.55
- SET Index: 1,288.3 (+1.04%), 2 Oct 2025
- S&P 500 Index: 6,715.4 (+0.06%), 2 Oct 2025
- Thai 10-year government bond yield (interpolated): 1.410 (-0.63 bps), 2 Oct 2025
- US 10-year treasury yield: 4.10 (-2.0 bps), 2 Oct 2025
- US layoffs drop, but risks remain
- EU plans 50% tariff on steel imports
- BoJ Deputy reaffirms rate hike stance after Tankan
- Japan jobless rate rises ahead of BOJ meeting
- Dollar edges up amid second day of shutdown
US layoffs drop, but risks remain
US Challenger job cuts fell to 54,064 in September from 85,979 in August. With other labor data unavailable due to the government shutdown, alternative indicators like ADP and ISM employment components gain significance. Economists warned that planned layoffs could top 1 million in 2023 — the highest since 2020 — citing a stagnant labor market, rising costs, and disruptive new technologies. He added that while rate cuts might bring some stability in Q4, layoff risks remain.
EU plans 50% tariff on steel imports
The EU plans to raise steel import tariffs to 50%, aligning with U.S. levels to counter Chinese overcapacity, per a draft seen by Bloomberg. The current 25% safeguard, applied after quotas are exceeded, expires next year. A permanent replacement is expected next week.
BoJ Deputy reaffirms rate hike stance after Tankan
BoJ Deputy Governor Shinichi Uchida reaffirmed the bank’s readiness to raise rates if the economic outlook holds, citing favorable sentiment in the latest Tankan survey. His comments support speculation of a potential rate hike at the Oct. 30 policy meeting.
Japan jobless rate rises ahead of BOJ meeting
Japan’s jobless rate rose to 2.6% in August, the highest in over a year, up from 2.3% in July, hinting at slight labor market softening amid rate hike speculation. The job-to-applicant ratio eased to 1.20 from 1.22. Despite this, the market remains tight overall, with ongoing labor shortages pushing firms to raise wages—a key factor supporting the Bank of Japan’s gradual tightening stance.
Dollar edges up amid second day of shutdown
The 10-year government bond yield (interpolated) on the previous trading day was 1.410, -0.63 bps. The benchmark government bond yield (LB353A) was 1.404, -0.56 bps. Meantime, the latest closed US 10-year bond yields was 4.10, -2.0 bps. USDTHB on the previous trading day closed around 32.43, moving in a range of 32.445 – 32.465 this morning. USDTHB could be closed between 32.35 – 32.55 today. The dollar posted modest gains against G10 peers as the US government shutdown entered its second day, with the absence of weekly jobless claims shifting focus to Challenger data, which showed layoffs easing to 54k in September from 86k. With Friday’s NFP release postponed, the Chicago Fed’s steady 4.3% unemployment estimate provided a key labor signal. On the Fed front, Logan maintained her hawkish tone, while Goolsbee reiterated inflation concerns. The dollar index climbed to ~97.83 from a 97.52 low. Meanwhile, G10 FX broadly declined on Thursday. The British pound saw modest pressure. The Japanese yen found brief support after BoJ’s Uchida cited positive Tankan sentiment and suggested a rate hike remains possible if the outlook holds. The euro traded slightly lower around 1.1720, within a 1.1684–1.1758 range.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
