- USDTHB: moving in the range 33.155 – 33.25 this morning, supportive level at 33.05 resistance level at 33.30
- SET Index: 1,593.56 (+0.34%), 2 July 2026
- S&P 500 Index: 7,483.24 (+0.00%), 2 July 2026
- Thai 10-year government bond yield (interpolated): 2.042 (-1.93 bps), 2 July 2026
- US 10-year treasury yield: 4.49 (+1.00 bps), 2 July 2026
- Oil trades sideways as markets await further US-Iran talks
- US NFP miss expectations, signalling gradual labour market cooling
- Lagarde defends ECB’s June rate hike
- Canada, Philippines agree to sign trade deal this year
- Dollar falls broadly as payrolls miss expectations
Oil trades sideways as markets await further US-Iran talks
Oil prices traded in a narrow range and ended slightly higher as a lack of major geopolitical developments kept market activity subdued. While the softer-than-expected US payrolls report triggered a dovish market reaction, it had little impact on crude prices. Instead, sentiment remained influenced by signs of progress in indirect US-Iran talks, with Qatar confirming constructive discussions and reports indicating the next round of negotiations is scheduled for 18 July, supporting expectations of easing geopolitical risks.
US NFP miss expectations, signalling gradual labour market cooling
The June employment report signalled a gradual cooling in the US labour market, with nonfarm payrolls rising by just 57k, below expectations, while the previous two months were revised down by a combined 74k. The weakness was mainly driven by softer seasonal hiring in leisure and hospitality, although employment continued to grow in healthcare, social assistance, and professional services. The unemployment rate edged down to 4.2%, largely due to lower labour force participation, while wage growth remained steady. Elsewhere, weekly jobless claims were little changed, while Fed’s Daly reiterated that it remains too early to determine the appropriate path for interest rates.
Lagarde defends ECB’s June rate hike
ECB President Christine Lagarde defended the ECB’s June rate hike, saying policymakers made the right decision despite easing inflation. She noted the Governing Council had been ready to act earlier but waited for sufficient data before tightening policy.
Canada, Philippines agree to sign trade deal this year
Canada and the Philippines plan to finalize a free trade agreement this year. The two countries signed agreements to deepen cooperation on energy, defense, labor and migration. Bilateral merchandise trade between Canada and the Philippines reached C$3.4 billion last year, as part of Carney's effort to increase non-US trade.
Dollar falls broadly as payrolls miss expectations
The 10-year government bond yield (interpolated) on the previous trading day was 2.042, -1.93 bps. The benchmark government bond yield (LB365A) was 2.02, -1.00 bps. Meantime, the latest closed US 10-year bond yields was 4.49, +1.0 bps. USDTHB on the previous trading day closed around 33.30, moving in a range of 33.155 – 33.25 this morning. USDTHB could be closed between 33.05 – 33.30 today. The dollar weakened broadly after June nonfarm payrolls rose by just 57k, well below the 110k consensus, while the previous two months were revised down by a combined 74k. Although the unemployment rate unexpectedly fell to 4.2%, the decline was driven by lower labour force participation, limiting the report’s strength. The dollar briefly fell to 100.56 before recovering some losses as markets viewed the data as insufficient to materially alter the Fed’s higher-for-longer stance under Chair Warsh. Meanwhile, the euro gained on broad dollar weakness despite limited ECB news, the British pound extended its winning streak to a sixth session, and the Japanese yen outperformed all G10 peers amid suspected official intervention. Elsewhere, geopolitical developments remained subdued, and semiconductor-led equity weakness persisted ahead of the US Independence Day holiday, which is expected to thin market liquidity.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
