- USDTHB: moving in the range 33.76 – 33.79 this morning, supportive level at 33.65 resistance level at 33.95
- SET Index: 1,639.34 (-0.82%), 22 July 2026
- S&P 500 Index: 7,498.96 (-0.14%), 22 July 2026
- Thai 10-year government bond yield (interpolated): 2.063 (+1.51 bps), 22 July 2026
- US 10-year treasury yield: 4.67 (+4.00 bps), 22 July 2026
- Middle east tensions keep oil prices elevated
- US prepares broader tariff rollout as temporary levy expires
- Big tech earnings deliver mixed results
- BoJ opens to more frequent rate hikes
- UK inflation slows to 2.6% in June
- Dollar holds steady as investors await key catalysts
Middle east tensions keep oil prices elevated
Crude oil prices rose as escalating Middle East tensions remained the main driver. The US and Iran exchanged fresh threats after an 11th consecutive night of attacks, with President Trump warning of strikes on Iranian infrastructure if Iran targeted shipping in the Strait of Hormuz, while Tehran threatened retaliation against regional energy facilities. Oil prices were also supported by disruptions around the Bab el-Mandeb Strait, higher shipping costs, and reports that QatarEnergy could extend its LNG supply disruptions through mid-October.
US prepares broader tariff rollout as temporary levy expires
The Trump administration is preparing a new round of tariffs on dozens of trading partners as the temporary 10% global tariff expires this week.
Big tech earnings deliver mixed results
Tesla reported quarterly earnings well below expectations, highlighting ongoing challenges in its core EV business as Elon Musk shifts focus toward robotics, autonomous driving, and artificial intelligence. Meanwhile, Alphabet delivered better-than-expected cloud revenue alongside strong growth in Gemini users, providing further evidence that its substantial AI investments are beginning to generate returns.
BoJ opens to more frequent rate hikes
According to Bloomberg, BoJ officials are open to raising interest rates more frequently than markets expect, citing persistent yen weakness and rising upside inflation risks. Policymakers see growing evidence that firms are passing higher costs on to consumers more quickly, while the weaker yen could further reinforce inflationary pressures.
UK inflation slows to 2.6% in June
UK inflation eased more than expected in June, with headline CPI slowing to 2.6% YoY from 2.8%, below the 2.7% consensus and marking a 14-month low, driven by lower fuel and food prices. Core CPI remained at 2.6%, while services inflation eased to 3.6% from 3.7%. Despite the softer inflation print, the BoE still expects CPI to rise to around 3% in Q3, with markets pricing in no change to the 3.75% policy rate at next week’s meeting.
Dollar holds steady as investors await key catalysts
The 10-year government bond yield (interpolated) on the previous trading day was 2.063, +1.51 bps. The benchmark government bond yield (LB365A) was 2.04, +2.00 bps. Meantime, the latest closed US 10-year bond yields was 4.67, +4.0 bps. USDTHB on the previous trading day closed around 33.79, moving in a range of 33.76 – 33.79 this morning. USDTHB could be closed between 33.65 – 33.95 today. The US dollar traded broadly flat as investors weighed escalating middle east tensions, higher oil prices, and key earnings, while the absence of major US data and the Fed blackout period kept the focus on geopolitics. The euro edged higher ahead of the ECB meeting, where rates are expected to remain unchanged with a hawkish bias. The British pound was little changed after softer UK inflation reinforced expectations of a prolonged BoE pause, while the Japanese yen briefly strengthened on reports the BoJ is open to more frequent rate hikes before paring most of its gains.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
