- USDTHB: moving in the range 31.20 – 31.28 this morning, supportive level at 31.10 resistance level at 31.30
- SET Index: 1,307.1 (-0.56%), 26 Jan 2026
- S&P 500 Index: 6,950.2 (+0.50%), 26 Jan 2026
- Thai 10-year government bond yield (interpolated): 1.921 (+1.45 bps), 26 Jan 2026
- US 10-year treasury yield: 4.22 (-2.0 bps), 26 Jan 2026
- US durable goods orders increase by most in six months
- Tariff uncertainty remains elevated
- German business outlook slips unexpectedly amid tepid growth
- BOJ data show no clear sign of yen intervention on Friday
- Dollar slides against major peers
US durable goods orders increase by most in six months
US orders for durable goods increased in November by the most in six months, boosted by bookings for commercial aircraft and other capital equipment. Orders for durable goods — items meant to last at least three years — rose 5.3% after a revised 2.1% decline a month earlier. The data also showed the value of core capital goods orders, a proxy for investment in equipment that excludes aircraft and military hardware, increased a larger-than-forecast 0.7%.
Tariff uncertainty remains elevated
US President Donald Trump announced a hike in tariffs on South Korean goods to 25% from 15%, blaming Seoul’s failure to ratify a trade deal agreed last year. In a Truth Social post, Trump said the increase will cover autos, lumber, pharmaceuticals, and other products under reciprocal tariffs, adding that the agreement—reached with President Lee in July 2025 and reaffirmed during his October visit to Korea—had been a “great deal for both countries.” Meanwhile, over the weekend, Trump threatened to impose 100% tariffs on Canada after Prime Minister Carney signalled plans to deepen trade ties with China.
German business outlook slips unexpectedly amid tepid growth
Germany’s business outlook softened at the start of the year, with the Ifo expectations index unexpectedly dipping to 89.5 despite hopes of major government investment, while current conditions improved slightly. Persistent headwinds include weak growth, strained US trade ties, rising Chinese competition, and a prolonged slump in the chemical sector.
BOJ data show no clear sign of yen intervention on Friday
Japanese data showed no clear evidence of yen-buying intervention last Friday, as the gap between the Bank of Japan’s current account figures and broker estimates was small. While a minor operation cannot be ruled out, analysts say any intervention was likely limited in scale.
Dollar slides against major peers
The 10-year government bond yield (interpolated) on the previous trading day was 1.921, +1.45 bps. The benchmark government bond yield (LB365A) was 1.93, -3.00 bps. Meantime, the latest closed US 10-year bond yields was 4.22, -2.0 bps. USDTHB on the previous trading day closed around 31.07, moving in a range of 31.20 – 31.28 this morning. USDTHB could be closed between 31.10 – 31.30 today. The US dollar softened against most major peers (excluding CAD) as persistent trade frictions reinforced the de-dollarisation narrative, following President Trump’s threat of 100% tariffs on Canada in response to PM Carney’s efforts to expand trade with China. The Canadian dollar underperformed as expectations for a constructive USMCA outcome continued to fade. Elsewhere, subdued newsflow and backward-looking November durable goods data failed to materially influence sentiment, leaving markets focused on Wednesday’s Fed decision, the potential for a Fed Chair announcement from Trump, developments in US-EU trade relations, and geopolitical risks tied to Iran and Ukraine/Russia. The euro advanced on dollar weakness but struggled to hold above 1.1900, the British pound briefly reclaimed the 1.3700 level before paring gains amid limited UK catalysts, while the Japanese yen remained heavy but rebounded from a short-lived dip below 154.00 as intervention concerns re-emerged.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
