- USDTHB: moving in the range 32.34-32.37 this morning, supportive level at 32.30 resistance level at 32.45
- SET Index: 1,252.7 (-0.13%), 24 Nov 2025
- S&P 500 Index: 6,705.1 (+1.53%), 24 Nov 2025
- Thai 10-year government bond yield (interpolated): 1.672 (-4.02 bps), 24 Nov 2025
- US 10-year treasury yield: 4.04 (-2.0 bps), 24 Nov 2025
- Fed’s Waller & Daly align on 25bp easing
- Trump & Xi hold phone call
- German business sentiment unexpectedly falls in November
- Thailand fast-tracks $15B in stalled projects to boost growth
- Dollar softens as Fed rhetoric boosted rate-cut expectations
Fed’s Waller & Daly align on 25bp easing
Fed voter Waller told Fox Business that data since the last meeting show little change, with inflation no longer a major concern and the labour market looking weak. He reaffirmed support for a December rate cut, flagged January as “tricky” given heavy data flow, and noted September jobs are likely to be revised lower. Waller added that inflation’s recent uptick should soon reverse. Likewise, 2027 voter Daly backed a December cut, citing a vulnerable labour market and warning that a sudden jobs downturn is more likely—and harder to manage—than an inflation flare-up.
Trump & Xi hold phone call
President Trump said he had a very good phone call with Chinese President Xi in which they discussed a wide range of issues—including Ukraine/Russia, fentanyl, soybeans and other farm goods—adding that they reached an important deal for US farmers and that the US-China relationship remains extremely strong; he also noted that Xi invited him to visit Beijing in April, an offer he accepted while extending a reciprocal invitation for a US state visit later in the year. The White House reported the call lasted about an hour, focused in part on trade, and was productive. For his part, President Xi emphasized the need to maintain positive momentum in bilateral ties, open new avenues of cooperation, and pursue further progress together.
German business sentiment unexpectedly falls in November
German business morale slipped in November, defying expectations, as firms grow pessimistic about economic recovery after two years of contraction. The Ifo business climate index fell to 88.1 from 88.4, below the 88.5 forecast, with declines across all sectors except for a modest rise in services. The Ifo expectations index also dropped to 90.6 from 91.6.
Thailand fast-tracks $15B in stalled projects to boost growth
Thailand is pushing a 480 billion baht ($14.8B) “Fast Pass” plan to speed up stalled investment projects and boost economic momentum amid sluggish growth. The program targets roughly 80 major projects with BOI approval that are delayed by permits, visas, utilities, and construction, aiming to unlock 390 billion baht of investment by 2027.
Dollar softens as Fed rhetoric boosted rate-cut expectations
The 10-year government bond yield (interpolated) on the previous trading day was 1.672, -4.02 bps. The benchmark government bond yield (LB353A) was 1.649, -3.65 bps. Meantime, the latest closed US 10-year bond yields was 4.04, -2.0 bps. USDTHB on the previous trading day closed around 32.50, moving in a range of 32.34 – 32.37 this morning. USDTHB could be closed between 32.30 – 32.45 today. The dollar softened as Fed officials, including Waller and Daly, reinforced expectations for a December rate cut, while geopolitical focus centered on progress in Ukraine peace talks—now reportedly a 19-point plan—and a “productive” phone call between Presidents Trump and Xi. The euro saw mild support from the weaker dollar and improved optimism around the Russia-Ukraine conflict, whereas the British pound drifted back toward 1.3100 ahead of Wednesday’s Budget, with Chancellor Reeves highlighting priorities such as the cost of living, NHS waiting lists, and debt. Meanwhile, the Japanese yen lagged, with USD/JPY briefly touching 157.00 amid mounting speculation of potential BoJ intervention.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
