- USDTHB: moving in the range 32.54-32.58 this morning, supportive level at 32.30 resistance level at 32.60
- SET Index: 1,304.9 (-0.02%), 8 Oct 2025
- S&P 500 Index: 6,753.7 (+0.58%), 8 Oct 2025
- Thai 10-year government bond yield (interpolated): 1.447 (+3.70 bps), 8 Oct 2025
- US 10-year treasury yield: 4.13 (-1.0 bps), 8 Oct 2025
- FOMC shows inflation caution despite broad support for rate cut
- Trump signals Israel-Hamas peace deal near
- France’s Lecornu says Macron can name new premier in 48 hours
- Thailand unexpectedly holds rates, trims GDP view but leaves door open to more cuts
- Dollar holds firm despite lack of US data
FOMC shows inflation caution despite broad support for rate cut
The FOMC Minutes indicated that most participants believed further policy easing would likely be appropriate this year, with nearly all supporting a 25bps rate cut at the September meeting. This stance largely reflected a perceived shift in the balance of risks. Some participants noted that financial conditions might not be particularly restrictive, prompting calls for a cautious policy approach. A few also saw merit in holding rates steady, while one participant—Miran—favored a 50bps cut, though no non-voters supported such a move. Most members viewed downside risks to employment as having increased, while upside inflation risks had either eased or remained unchanged, even as a majority continued to emphasize inflation risks in their outlooks.
Trump signals Israel-Hamas peace deal near
Donald Trump said a peace deal to end the two-year Gaza war is “very close,” ahead of a possible visit to the Middle East this weekend. Talks in Egypt between Israeli and Hamas officials have taken a cautiously optimistic turn, and a senior Israeli official said negotiators are aiming to finalize and announce an agreement as early as Friday.
France’s Lecornu says Macron can name new premier in 48 hours
Outgoing French Prime Minister Sébastien Lecornu said he has made progress in talks with parliamentary groups and expects President Emmanuel Macron to be in a position to appoint a new premier within 48 hours. Lecornu noted that there are opportunities for compromise in parliament and a clear majority in the National Assembly opposed to a new dissolution. He told the president that the likelihood of dissolution is receding and believes the current situation supports naming a new prime minister soon.
Thailand unexpectedly holds rates, trims GDP view but leaves door open to more cuts
The Bank of Thailand held its key rate at 1.50%, surprising markets expecting a 25bps cut at the first meeting under new Governor Vitai Ratanakorn. The 5–2 vote paused a year-long easing cycle, with most members citing limited policy space amid economic headwinds. Two members backed a cut to support small firms and households. The Bank of Thailand trimmed its growth forecasts to 2.2% for 2025 and 1.6% for 2026, down slightly from earlier projections. It also cut this year’s inflation outlook to 0%, citing persistent deflation, but sees low deflation risk and expects inflation to return to target by early 2027.
Dollar holds firm despite lack of US data
The 10-year government bond yield (interpolated) on the previous trading day was 1.447, +3.70 bps. The benchmark government bond yield (LB353A) was 1.442, +3.41 bps. Meantime, the latest closed US 10-year bond yields was 4.13, -1.0 bps. USDTHB on the previous trading day closed around 32.47, moving in a range of 32.54 – 32.58 this morning. USDTHB could be closed between 32.30 – 32.60 today. The dollar remained firm against major currencies despite a lack of fresh US data, supported by the FOMC Minutes. The euro weakened but recovered slightly after finding support near 1.1600, helped by comments from French caretaker PM Lecornu suggesting a new prime minister could be appointed within 48 hours and that a parliamentary majority opposes dissolution. Meanwhile, the Japanese yen continued to depreciate, though USD/JPY gains were capped just below the 153.00 level.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
