- USDTHB: moving in the range 32.53 – 32.62 this morning, supportive level at 32.30 resistance level at 32.70
- SET Index: 1,470.99 (+1.58%), 1 Apr 2026
- S&P 500 Index: 6,575.32 (+0.72%), 1 Apr 2026
- Thai 10-year government bond yield (interpolated): 2.154 (-5.39 bps), 1 Apr 2026
- US 10-year treasury yield: 4.33 (+3.00 bps), 1 Apr 2026
- Trump eyes Iran de‑escalation while hinting at further strikes
- US economic data overall comes in stronger than expected
- Chinese private manufacturing PMI slips as Iran conflict raises exporters’ costs
- The dollar weakens on optimism over a possible diplomatic resolution
Trump eyes Iran de‑escalation while hinting at further strikes
Donald Trump signaled a potential path to de-escalation in the Iran conflict ahead of a 9 p.m. address in Washington, while Masoud Pezeshkian called on Americans to look past political rhetoric after Trump said a ceasefire would depend on reopening the Strait of Hormuz. Meanwhile, JD Vance issued a stark ultimatum via intermediaries, urging Iran to reach a deal or face strikes on critical infrastructure.
US economic data overall comes in stronger than expected
ISM Manufacturing rose slightly to 52.7 in March (prev. 52.4), beating expectations, with a sharp jump in prices to 78.3—likely reflecting Iran-related pressures—while new orders softened and employment remained subdued. Production and supplier deliveries improved, but inventories, exports, and imports declined, and backlog growth slowed. ADP employment rose by 62k in March (prev. 66k), beating expectations, with wage growth steady for job-stayers at 4.5% and higher for job-changers at 6.6%. The data countered weaker JOLTS signals, pointing to a labor market that is gradually cooling rather than deteriorating. Hiring gains were broad-based—led by small firms—with declines limited to manufacturing and trade/transport, while any impact from the Iran conflict is likely not yet reflected and may weigh on future hiring. Retail sales rose 0.6% (exp. 0.4%), rebounding to a seven-month high, driven by gains in department stores, health and personal care, and clothing. Core measures were also firm, with the control group up 0.5% and ex-autos and ex-gas/autos both improving.
Chinese private manufacturing PMI slips as Iran conflict raises exporters’ costs
The RatingDog China Manufacturing PMI slipped to 50.8 from February’s 52.1 peak, below the expected 51.5, with input prices climbing at the fastest pace since March 2022 due to higher global oil costs and geopolitical tensions. Meanwhile, broader Asian manufacturing continued to expand, though growth moderated. ASEAN manufacturing PMI fell to 51.8 in March from February’s 53.8, marking the weakest pace since last September.
The dollar weakens on optimism over a possible diplomatic resolution
The 10-year government bond yield (interpolated) on the previous trading day was 2.154, -5.39 bps. The benchmark government bond yield (LB365A) was 2.15, -4.00 bps. Meantime, the latest closed US 10-year bond yields was 4.33, +3.0 bps. USDTHB on the previous trading day closed around 32.63, moving in a range of 32.53 – 32.62 this morning. USDTHB could be closed between 32.30 – 32.70 today. The US dollar weakened broadly on optimism around a potential Iran de-escalation, supported by Trump’s suggestion of a possible withdrawal within two to three weeks, even without a deal. However, it later trimmed losses as caution set in ahead of key speeches and as Iran’s latest outreach failed to sustain momentum. US data had limited broader impact but lifted Treasury yields after stronger-than-expected ADP, retail sales, and ISM figures. Meanwhile, the euro initially rose above 1.1600 on dollar weakness before easing amid ECB commentary pointing to a potentially more adverse baseline outlook, the British pound outperformed on lower European gas prices and new UK cost-of-living measures despite BoE Governor Bailey warning markets may be overpricing rate hikes, and the Japanese yen remained largely flat as lower oil prices and improved risk appetite offset each other.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
