- USDTHB: moving in the range 33.13 – 33.145 this morning, supportive level at 33.00 resistance level at 33.30
- SET Index: 1,614.64 (+0.30%), 6 Aug 2026
- S&P 500 Index: 7,709.96 (-0.18%), 6 Aug 2026
- Thai 10-year government bond yield (interpolated): 2.076 (-0.60 bps), 6 Aug 2026
- US 10-year treasury yield: 4.69 (+6.00 bps), 6 Aug 2026
- Middle east tensions escalate on Houthi attacks and Hormuz proposal
- US labour data remains resilient but has little market impact
- Warsh stays data-dependent, keeps hike option alive
- Eurozone retail sales disappoint, highlighting fragile consumer demand
- Japan June household spending falls unexpectedly
- Dollar extends gains as yields rise and Fed hike bets persist
Middle east tensions escalate on Houthi attacks and Hormuz proposal
Geopolitical tensions in the Middle East escalated after the Houthis launched a major offensive against Saudi-backed Yemeni forces, while Iran released initial details of a proposed Strait of Hormuz agreement that would bar US and Israeli vessels, restrict transit for countries deemed hostile to Iran until compensation is paid, and impose fines of up to 20% of cargo value for violations. Although the proposal remains under expert review, its terms are widely viewed as unacceptable to the US and Gulf states, overshadowing optimism over potential US-Iran talks.
US labour data remains resilient but has little market impact
US labour market remained resilient, while labour cost pressures eased. Q2 nonfarm productivity rose 1.4% annualised (vs. 0.6% expected), keeping unit labour costs at 1.3% (vs. 2.0% expected). Meanwhile, initial jobless claims held near multi-decade lows at 199k, while July Challenger job cuts fell to a two-year low of 33,429 (-27% MoM, -46% YoY).
Warsh stays data-dependent, keeps hike option alive
Fed Chair Warsh is expected to maintain the Fed’s lean communication strategy despite criticism, according to the Financial Times. The report added that Warsh is open to a September rate hike if upcoming inflation data remain strong and market expectations shift further toward tightening. In a separate report, Fed officials reiterated a cautious, data-dependent stance. Daly said the Fed was right to hold rates steady but stands ready to act if inflation worsens, while Cook said inflation risks still outweigh labour market risks and left the door open to further rate hikes if disinflation stalls.
Eurozone retail sales disappoint, highlighting fragile consumer demand
Eurozone retail sales unexpectedly fell 0.3% MoM in June, versus expectations for a 0.2% increase, while annual growth slowed to 0.7% YoY from 1.6%. The weakness was led by Germany (-1.1%) and France (-0.5%), signalling softer consumer demand.
Japan June household spending falls unexpectedly
Japan’s household spending fell 3.3% YoY in June, versus expectations for a 1.0% increase, marking a seventh straight monthly decline. The weak data highlight fragile domestic demand and may complicate the BoJ’s September rate hike decision.
Dollar extends gains as yields rise and Fed hike bets persist
The 10-year government bond yield (interpolated) on the previous trading day was 2.076, -0.60 bps. The benchmark government bond yield (LB365A) was 2.04, +0.00 bps. Meantime, the latest closed US 10-year bond yields was 4.69, +6.0 bps. USDTHB on the previous trading day closed around 33.07, moving in a range of 33.13 – 33.145 this morning. USDTHB could be closed between 33.00 – 33.30 today. The US dollar strengthened broadly, supported by higher short-term Treasury yields and firmer oil prices amid renewed Middle East tensions. A Financial Times report that Fed Chair Warsh remains open to a September rate hike if inflation surprises to the upside also supported the greenback. Meanwhile, the euro weakened on soft retail sales, the Japanese yen underperformed as USD/JPY rose above 158, while the British pound was little changed.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
