- USDTHB: moving in the range 31.05 – 31.09 this morning, supportive level at 30.85 resistance level at 31.15
- SET Index: 1,411.70 (+0.09%), 11 Feb 2026
- S&P 500 Index: 6,941.47 (-0.00%), 11 Feb 2026
- Thai 10-year government bond yield (interpolated): 1.886 (-2.84 bps), 11 Feb 2026
- US 10-year treasury yield: 4.18 (+2.0 bps), 11 Feb 2026
- US adds 130,000 jobs and unemployment falls
- US House passes measure rejecting Trump’s trade tariffs on Canada
- China CPI inflation undershoots forecasts in January
- World Bank trims Thailand's 2026 GDP growth outlook to 1.6%
- Dollar flat after strong jobs data
US adds 130,000 jobs and unemployment falls
January’s US jobs report was solid, with headline NFP rising 130k, well above the 70k consensus and the -10k to +108k estimate range, accelerating from 50k previously. Even adjusting for Powell’s estimated 60k monthly BLS overshoot, labor demand remains firm. The unemployment rate fell to 4.3% from 4.4% alongside a higher participation rate, reinforcing the strength of the report, while private payrolls jumped 172k, beating expectations. Annual benchmark revisions through March 2025 showed payrolls cut by 862k—smaller than the preliminary 911k decline but larger than the -825k consensus—with the BLS noting no material impact from severe weather.
US House passes measure rejecting Trump’s trade tariffs on Canada
The US House voted 219–211 to advance a Democratic resolution to terminate President Trump’s national emergency used to impose tariffs on Canada, with six Republicans backing the measure. It now moves to the Senate, where it is unlikely to overcome an expected veto.
China CPI inflation undershoots forecasts in January
China’s CPI rose just 0.2% YoY in January, below the 0.4% forecast and slowing sharply from December’s 0.8%, as Lunar New Year base effects and persistent deflationary pressures weighed on prices. On a monthly basis, CPI increased 0.2%, missing expectations of 0.3%. Meanwhile, PPI fell 1.4% YoY—slightly better than the expected 1.5% decline but still firmly negative—highlighting ongoing factory-gate deflation amid excess capacity and weak global demand.
World Bank trims Thailand's 2026 GDP growth outlook to 1.6%
The World Bank projects Thailand’s GDP growth at 1.6% in 2026 (down from 1.8%), pressured by weaker global trade, high household debt, and a slow tourism recovery, before rebounding to 2.2% in 2027 on stronger global conditions and rising private investment. Manufacturing remains central to the economy, contributing 25% of GDP and employing 6.2 million workers. The Bank highlights advanced green manufacturing as a strategic driver to lift Thailand’s long-term growth potential.
Dollar flat after strong jobs data
The 10-year government bond yield (interpolated) on the previous trading day was 1.886, -2.84 bps. The benchmark government bond yield (LB365A) was 1.86, -5.00 bps. Meantime, the latest closed US 10-year bond yields was 4.18, +2.0 bps. USDTHB on the previous trading day closed around 31.11, moving in a range of 31.05 – 31.09 this morning. USDTHB could be closed between 30.85 – 31.15 today. The dollar traded mixed and failed to broadly capitalize on January’s stronger-than-expected NFP report, with headline jobs at 130k, unemployment edging down to 4.3%, and participation ticking higher. Meanwhile, annual BLS benchmark revisions through March 2025 showed payrolls cut by 862k, signaling job losses across retail, construction, manufacturing, tech, and financial services. The euro eased back below 1.1900 amid renewed calls for additional EU debt issuance, the British pound softened below 1.3700 ahead of GDP data, and the Japanese yen outperformed, with USD/JPY reversing its post-NFP spike, prompting speculation about possible MoF intervention.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
