- USDTHB: moving in the range 32.335-32.35 this morning, supportive level at 32.25 resistance level at 32.50
- SET Index: 1,306.3 (+0.26%), 10 Nov 2025
- S&P 500 Index: 6,832.4 (+1.53%), 10 Nov 2025
- Thai 10-year government bond yield (interpolated): 1.782 (+0.94 bps), 10 Nov 2025
- US 10-year treasury yield: 4.13 (+2.0 bps), 10 Nov 2025
- US government shutdown shows progress
- US formally delays affiliates rule for one year in US-China pact
- Fed policymakers divided over need for more rate cuts
- Euro zone investor morale worsens further than expected
- Dollar falls on optimism over potential end of government shutdown
US government shutdown shows progress
Democrats failed to renew tax credits aimed at keeping insurance premiums down and to show they could strike deals in Trump’s Washington as the record shutdown drew to a close. Eight Democrats sided with Republicans to advance a funding bill that left out the ACA subsidies they wanted. The party now plans to focus its midterm campaign on health care, blaming Republicans for higher insurance costs if the credits aren’t extended. President Trump voiced support for the bipartisan deal to end the US shutdown, saying the country would “open up very quickly.”
US formally delays affiliates rule for one year in US-China pact
The Trump administration has postponed a one-year export control rule targeting shipments to companies majority-owned by blacklisted firms. The “affiliates rule,” suspended in a Monday Federal Register filing, will remain on hold until early November 2026. The delay is part of a US-China trade truce, with China agreeing to postpone expanding rare-earth mineral restrictions that could have disrupted global supply chains.
Fed policymakers divided over need for more rate cuts
Fed’s Miran (voter) said the end of the government shutdown doesn’t change his outlook, maintaining expectations for a December rate cut of 50bps (minimum 25bps), calling for a forward-looking and more dovish stance despite divisions within the Fed. Musalem (voter) noted the economy’s resilience and urged caution given the 250bps decline in real rates and limited room to ease further. Meanwhile, Daly (2027 voter) said policy is well positioned but stressed staying open to more cuts while guarding against inflation and not holding rates high for too long.
Euro zone investor morale worsens further than expected
The Sentix eurozone investor sentiment index dropped to -7.4 in November from -5.4 in October, missing the -4.0 forecast. A survey of 1,069 investors from November 6–8 showed the current situation worsened to -17.5 from -16.0, while six-month economic expectations fell to 3.3 from 5.8.
Dollar falls on optimism over potential end of government shutdown
The 10-year government bond yield (interpolated) on the previous trading day was 1.782, +0.94 bps. The benchmark government bond yield (LB353A) was 1.757, +1.36 bps. Meantime, the latest closed US 10-year bond yields was 4.13, +2.0 bps. USDTHB on the previous trading day closed around 32.36, moving in a range of 32.335– 32.35 this morning. USDTHB could be closed between 32.25 – 32.50 today. The dollar started the week slightly softer amid a risk-on tone, supported by upbeat US-China trade developments and progress toward averting a US government shutdown, with the Senate advancing a funding bill and the House targeting a Wednesday vote, though the Senate timeline remains uncertain. Fed speakers were on the wires but had little market impact. The euro traded broadly unchanged within tight ranges on limited eurozone catalysts, while the British pound outperformed on cyclical strength but faced resistance just below 1.3200 in cable. The Japanese yen underperformed as improved risk appetite drove USD/JPY back toward the 154.00 handle on reduced haven demand.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
