- USDTHB: moving in the range 32.49-32.52 this morning, supportive level at 32.35 resistance level at 32.65
- SET Index: 1,305.2 (+1.5%), 7 Oct 2025
- S&P 500 Index: 6,714.6 (-0.38%), 7 Oct 2025
- Thai 10-year government bond yield (interpolated): 1.410 (+0.98 bps), 7 Oct 2025
- US 10-year treasury yield: 4.14 (-4.0 bps), 7 Oct 2025
- NY Fed finds rising worry about state of job market in September
- RBNZ slashes official cash rate by 50bps to 2.50%
- World Bank lifts China 2025 growth, flags 2026 slowdown
- Thailand launches $1.4B consumer stimulus
- Dollar holds firm amid shutdown, data drought
NY Fed finds rising worry about state of job market in September
Inflation expectations rose to 3.4% for one year ahead and to 3.0% for three years ahead, with longer-term expectations unchanged at 3.0%. Labour market sentiment weakened: expected earnings growth dipped to 2.4%, the lowest since April 2021, while the perceived probability of higher unemployment in a year rose to 41.1%, job loss risk increased to 14.9%, and the chance of finding a new job rebounded to 47.4% from August’s record low. Household income growth expectations held steady at 2.9%, but expected spending growth declined to 4.7%, and fewer respondents expect to be financially better off in a year. Meanwhile, confidence in equities improved slightly, with the probability of higher US stock prices in 12 months rising to 39.8%.
RBNZ slashes official cash rate by 50bps to 2.50%
The Reserve Bank’s Monetary Policy Committee unanimously cut the Official Cash Rate by 50 basis points to 2.50% on Wednesday, aiming to restore confidence amid a weakening recovery. The move follows disappointing economic data, including a larger-than-expected Q2 GDP contraction, which the committee partly attributed to seasonal factors. The rate cut is intended to send a clear signal to support consumption and investment.
World Bank lifts China 2025 growth, flags 2026 slowdown
The World Bank raised its 2025 growth forecast for China to 4.8% and upgraded much of the region, but warned of slower momentum ahead due to weak confidence and export orders. In its latest East Asia and Pacific outlook, the Bank now expects China to grow 4.2% in 2026, up from its previous 4.0% estimate.
Thailand launches $1.4B consumer stimulus
Prime Minister Anutin Charnvirakul’s government has approved a $1.36 billion stimulus program aimed at reviving the slowing economy and boosting support ahead of upcoming elections. The initiative, expected to cost 44 billion baht, targets around 20 million eligible Thais and is projected to lift GDP by 0.3–0.4 percentage points. Running from Oct. 29 to Dec. 31, the co-payment scheme will provide at least 2,000 baht to most citizens aged 16 and over, with a daily spending cap of 200 baht until the full amount is used.
Dollar holds firm amid shutdown, data drought
The 10-year government bond yield (interpolated) on the previous trading day was 1.410, +0.98 bps. The benchmark government bond yield (LB353A) was 1.408, +0.54 bps. Meantime, the latest closed US 10-year bond yields was 4.14, -4.0 bps. USDTHB on the previous trading day closed around 32.51, moving in a range of 32.49 – 32.52 this morning. USDTHB could be closed between 32.35 – 32.65 today. The dollar broadly strengthened against G10 peers despite the ongoing US government shutdown and lack of domestic data, supported by a rise in NY Fed inflation expectations. Fed commentary, including from Miran, acknowledged weaker-than-expected H1 growth but highlighted reasons for optimism, while stressing the need for forward-looking policy amid uncertainty. The euro weakened on dollar’s strength and French political tensions, as National Rally leaders declined talks with the government. Meanwhile, the Japanese yen underperformed further, pushing USD/JPY close to the 152.00 mark.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
