- USDTHB: moving in the range 32.28 – 32.31 this morning, supportive level at 32.10 resistance level at 32.40
- SET Index: 1,507.53 (-0.62%), 7 May 2026
- S&P 500 Index: 7,337.11 (-0.38%), 7 May 2026
- Thai 10-year government bond yield (interpolated): 2.167 (-7.27 bps), 7 May 2026
- US 10-year treasury yield: 4.41 (+5.00 bps), 7 May 2026
- US, Iran exchange fire amid escalating tensions in Strait of Hormuz
- Trump’s latest 10% tariffs found unlawful by US trade court
- Malaysia holds key rate while warning over middle east risks
- Thailand, Cambodia move to restore ties after deadly border clashes
- Dollar firms as Middle East tensions keep investors cautious
US, Iran exchange fire amid escalating tensions in Strait of Hormuz
Markets moved from early optimism over Hormuz talks to growing caution as geopolitical tensions picked up. Oil prices first fell on reports that the US and Iran were close to a deal to reopen the Strait of Hormuz, with Iran expected to respond to the latest US proposal later in the day. However, sentiment weakened after Iran’s foreign minister said the proposal was still under review, while a senior military official rejected the US plan as “unrealistic.” Crude prices later turned higher after the WSJ reported that Saudi Arabia and Kuwait had allowed the US to use regional bases and airspace for “Project Freedom,” raising fears those facilities could become targets for Iran. After settlement, reports of explosions in Iran added to tensions, with some sources pointing to IRGC naval warning shots and others citing a strike on the Bahman pier in Qeshm, while Israel denied involvement.
Trump’s latest 10% tariffs found unlawful by US trade court
The US Court of International Trade ruled Trump’s 10% global tariff under Section 122 of the Trade Act of 1974 is unlawful but did not issue a blanket injunction. The decision applies only to the two suing companies and Washington state, while 24 other states were found to lack standing. The court said Section 122 was misapplied for “fundamental international payments problems,” with plaintiffs arguing it is outdated and wrongly equates trade and balance-of-payments deficits.
Malaysia holds key rate while warning over middle east risks
Malaysia kept its benchmark interest rate unchanged for a fifth consecutive meeting despite rising external risks from the Middle East conflict. Bank Negara Malaysia held the overnight policy rate at 2.75%, in line with expectations, saying it remains appropriate to support price stability and sustainable growth.
Thailand, Cambodia move to restore ties after deadly border clashes
Thailand and Cambodia agreed to restore ties after last year’s deadly border clashes, with foreign ministers set to develop confidence-building measures to rebuild a framework for lasting peace.
Dollar firms as Middle East tensions keep investors cautious
The 10-year government bond yield (interpolated) on the previous trading day was 2.167, -7.27 bps. The benchmark government bond yield (LB365A) was 2.18, -3.00 bps. Meantime, the latest closed US 10-year bond yields was 4.41, +5.0 bps. USDTHB on the previous trading day closed around 32.27, moving in a range of 32.28 – 32.31 this morning. USDTHB could be closed between 32.10 – 32.40 today. The dollar edged higher as conflicting Middle East headlines kept oil prices broadly steady. Early USD weakness on softer crude reversed after reports said Iran could withstand a US blockade of the Strait of Hormuz for months, while further support came from reports of potential US action to reopen the Strait and explosions across Iran. On the data front, US initial jobless claims were little changed week-on-week, while Challenger job cuts accelerated in April, led by large-scale layoffs in the technology sector. Looking ahead, focus turns to Friday’s nonfarm payrolls. The euro was little changed, briefly supported by Trump’s comments on a possible EU tariff deal, while the Japanese yen weakened as rebounding oil prices pushed USD/JPY up to 157.72 from earlier lows near 156.02.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
