- USDTHB: moving in the range 32.75 – 32.79 this morning, supportive level at 32.60 resistance level at 32.90
- SET Index: 1,491.74 (+0.78%), 29 Apr 2026
- S&P 500 Index: 7,135.95 (-0.04%), 29 Apr 2026
- Thai 10-year government bond yield (interpolated): 2.147 (-0.37 bps), 29 Apr 2026
- US 10-year treasury yield: 4.42 (+6.00 bps), 29 Apr 2026
- US–Iran deal remains stalled, with no progress on key issues
- Fed holds rates steady but with highest level of dissent since 1992
- EU member inflation accelerates further above 2%
- BOT holds key rate at 1% to support economy amid oil shock
- Dollar firms on hawkish Fed signals
US–Iran deal remains stalled, with no progress on key issues
Trump said he will maintain the naval blockade of Iran until a nuclear deal is secured. US military officials have also prepared potential strike plans to increase pressure, while Iran has shown no willingness to back down. Oil markets reacted sharply, with Brent crude surging over 7% to above $119.50 per barrel—its highest since June 2022—before easing slightly.
Fed holds rates steady but with highest level of dissent since 1992
The Fed held rates at 3.50–3.75% in an 8–4 split, with one member backing a 25bps cut and three opposing an easing bias in the statement. The statement turned more hawkish, upgrading inflation to “elevated” and linking it to higher energy prices, while growth and labor views were largely unchanged. Jerome Powell said policy is appropriate and not on a preset path, noting solid growth, weak job gains, and elevated inflation (PCE 3.5%, core 3.2%). He also confirmed he will remain on the Board after his Chair term until the DOJ probe concludes. For the next Fed Chair, in a separate report, Kevin Warsh was approved by the Senate Banking Committee in a narrow 13–11 vote, advancing his nomination.
EU member inflation accelerates further above 2%
Spanish inflation accelerated to 3.5% Y/Y in April, moving further above the ECB’s 2% target, driven mainly by higher fuel prices, while core inflation eased to 2.8%. Meanwhile, in Germany, inflation also rose to 2.9% (vs. 3.1% expected, 2.8% prior), supported by higher energy costs linked to the Iran conflict.
BOT holds key rate at 1% to support economy amid oil shock
The Thai Monetary Policy Committee unanimously held the policy rate at 1%, its lowest since late 2022, citing support for growth while keeping the impact of the global oil shock manageable. Growth is expected to slow to 1.5% this year, with potential upside from fiscal stimulus, while inflation is forecast to average 2.9% before easing to 1.5% next year as supply pressures fade.
Dollar firms on hawkish Fed signals
The 10-year government bond yield (interpolated) on the previous trading day was 2.147, -0.37 bps. The benchmark government bond yield (LB365A) was 2.16, +1.00 bps. Meantime, the latest closed US 10-year bond yields was 4.42, +6.0 bps. USDTHB on the previous trading day closed around 32.60, moving in a range of 32.75 – 32.79 this morning. USDTHB could be closed between 32.60 – 32.90 today. The US dollar firmed on a hawkish Fed tone, with dissent against adding easing language and supportive remarks from Jerome Powell. Rates were held at 3.50–3.75%, though views shifted toward hikes being as likely as cuts. The dollar extended gains after Powell signaled he will remain on the Board beyond his Chair term, reinforcing Fed independence. The index briefly hit 99.05 before easing. Meanwhile, US data was mixed, with a strong durable goods print offset by a wider-than-expected advance goods trade deficit and mixed housing indicators. The euro fell below 1.1700 on softer inflation and a stronger dollar, the Pound sterling slipped under 1.3500 amid UK political noise involving Andy Burnham, and the Japanese yen weakened with USD/JPY back above 160, driven mainly by geopolitical flows and rising yields.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
