- USDTHB: moving in the range 33.29 – 33.34 this morning, supportive level at 33.16 resistance level at 33.38
- SET Index: 1,616.88 (+0.35%), 6 July 2026
- S&P 500 Index: 7,537.43 (+0.72%), 6 July 2026
- Thai 10-year government bond yield (interpolated): 1.969 (-6.27 bps), 6 July 2026
- US 10-year treasury yield: 4.48 (-1.00 bps), 6 July 2026
- Oil trades lower amid limited geopolitical developments
- US ISM services remain healthy despite moderating momentum
- Waller says inflation risks now outweigh labour market concerns
- Eurozone data are largely in line with expectations
- Thailand inflation eases, supporting BoT’s hold stance
- US dollar reverses lower despite hawkish Waller remarks
Oil trades lower amid limited geopolitical developments
Oil prices edged lower in quiet trading as geopolitical tensions remained contained, with little fresh news to drive markets despite reports that negotiations could resume later this week. Crude benchmarks traded within narrow ranges as investors continued to monitor the geopolitical outlook alongside OPEC+’s decision to raise August production in line with expectations. Meanwhile, Saudi Arabia sharply reduced its August official selling price for Asian buyers, marking its largest cut in over two decades and signalling softer regional demand.
US ISM services remain healthy despite moderating momentum
The US ISM Services PMI edged down to 54.0 in June from 54.5, slightly below expectations but remained firmly in expansion territory for a 24th consecutive month. While business activity and new orders moderated from May’s strong pace, both remained healthy, employment returned to expansion for the first time in four months, and price pressures eased further despite staying elevated.
Waller says inflation risks now outweigh labour market concerns
Fed Governor Christopher Waller said the balance of risks has shifted, with a stabilising labour market and reaccelerating inflation warranting greater policy focus on inflation. He reaffirmed the Fed’s commitment to its 2% inflation target and said forward guidance remains a useful tool when applied flexibly but cautioned that overly rigid guidance can become counterproductive during periods of heightened uncertainty.
Eurozone data are largely in line with expectations
Eurozone data were mixed, with retail sales rising in line with expectations, signalling resilient consumer demand, while annual producer price inflation accelerated to 5.9%, pointing to persistent upstream price pressures. Meanwhile, German factory orders rebounded more strongly than expected, suggesting a recovery in manufacturing demand.
Thailand inflation eases, supporting BoT’s hold stance
Thailand’s headline inflation eased for a second consecutive month to 2.42% y/y in June, below expectations, suggesting the inflationary impact of this year’s oil shock has begun to fade. Meanwhile, core inflation accelerated to 1.23%, indicating underlying price pressures continued to build.
US dollar reverses lower despite hawkish Waller remarks
The 10-year government bond yield (interpolated) on the previous trading day was 1.969, -6.27 bps. The benchmark government bond yield (LB365A) was 1.94, -7.00 bps. Meantime, the latest closed US 10-year bond yields was 4.48, -1.0 bps. USDTHB on the previous trading day closed around 33.27, moving in a range of 33.29 – 33.34 this morning. USDTHB could be closed between 33.16 – 33.38 today. The US dollar pared early gains after touching 101.15, despite hawkish remarks from Fed Governor Christopher Waller highlighting a stabilising labour market and rising inflation risks. The pullback followed a slightly softer-than-expected US ISM Services PMI, allowing the euro and sterling to recover, while the Japanese yen remained under pressure as USD/JPY climbed above 162.00, keeping markets alert to the risk of Japanese FX intervention.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
