- USDTHB: moving in the range 32.29-32.31 this morning, supportive level at 32.20 resistance level at 32.50
- SET Index: 1,314.7 (-0.08%), 30 Oct 2025
- S&P 500 Index: 6,822.3 (-1.00%), 30 Oct 2025
- Thai 10-year government bond yield (interpolated): 1.723 (+3.10 bps), 30 Oct 2025
- US 10-year treasury yield: 4.11 (+3.0 bps), 30 Oct 2025
- Trump–Xi meeting eases tensions with trade and tariff breakthroughs
- The ECB left its policy rates and guidance unchanged
- Eurozone economy grew slightly faster than expected in third quarter
- BoJ holds rates, stays cautious
- Dollar gains broadly as markets reassess Fed’s December outlook
Trump–Xi meeting eases tensions with trade and tariff breakthroughs
The meeting between Trump and Xi had a generally positive tone, with both sides agreeing to a one-year trade truce. Under the deal, the US will cut fentanyl-related tariffs on China by half and postpone new technology export controls for a year. In exchange, China will suspend its recent rare-earth export restrictions for a year and resume purchases of US soybeans.
The ECB left its policy rates and guidance unchanged
The ECB, as widely expected, kept the Deposit Rate unchanged at 2.0%, citing limited new data since September and confidence that underlying inflation remains aligned with its target. The Governing Council reaffirmed its data-dependent, meeting-by-meeting approach. President Lagarde described policy as being in a “good place,” though not fixed, and confirmed the decision was unanimous.
Eurozone economy grew slightly faster than expected in third quarter
The euro-area economy grew faster than expected, showing resilience to higher US tariffs as France posted its strongest expansion in over two years. Third-quarter GDP rose 0.2% from the previous quarter, doubling the prior 0.1% pace and beating forecasts. France led the gain with a 0.5% jump driven by trade and domestic demand, while Germany and Italy stagnated, narrowly avoiding recessions. Spain continued to outperform with another solid quarter.
BoJ holds rates, stays cautious
The Bank of Japan (BoJ) kept its short-term interest rate target unchanged at 0.5%, as expected, with board members Takata and Tamura dissenting in favor of a 25-basis-point hike. The BoJ noted that real interest rates remain significantly low and reiterated that it would raise policy rates further if economic and price developments align with its forecasts. It emphasized that monetary policy will be managed appropriately to sustainably achieve the 2% inflation target, while cautioning that projections must be assessed objectively amid elevated uncertainty over trade policy and its economic impact. During the press conference, Ueda said there is no predetermined timeline for the next rate hike.
Dollar gains broadly as markets reassess Fed’s December outlook
The 10-year government bond yield (interpolated) on the previous trading day was 1.723, +3.10 bps. The benchmark government bond yield (LB353A) was 1.699, +2.09 bps. Meantime, the latest closed US 10-year bond yields was 4.11, +3.0 bps. USDTHB on the previous trading day closed around 32.43, moving in a range of 32.29– 32.31 this morning. USDTHB could be closed between 32.20 – 32.50 today. The dollar advanced broadly as traders repriced Fed expectations ahead of December, with sentiment further buoyed by a constructive Trump–Xi meeting that saw the US ease some tariffs and China delay rare-earth export curbs. The euro slipped back below 1.1600 after a largely uneventful ECB meeting, where rates were held at 2.00% and Lagarde reiterated that policy remains in a “good place.” The British pound extended its losing streak for a third session amid renewed political noise surrounding Chancellor Reeves, despite PM Starmer reaffirming his support. The Japanese yen was the clear G10 underperformer following the BoJ’s decision to hold rates at 0.5% and refrain from flagging further tightening next year.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
