- USDTHB: moving in the range 33.03 – 33.05 this morning, supportive level at 32.95 resistance level at 33.15
- SET Index: 1,626.44 (+1.08%), 17 Aug 2026
- S&P 500 Index: 7,745.06 (-0.52%), 17 Aug 2026
- Thai 10-year government bond yield (interpolated): 2.111 (+2.67 bps), 17 Aug 2026
- US 10-year treasury yield: 4.72 (+4.00 bps), 17 Aug 2026
- Oil rises as US-Iran tensions remain elevated
- Former official calls for faster BOJ tightening
- China’s growth momentum weakens in July
- China’s property downturn persists
- Thailand’s GDP slows in Q2, but 2026 outlook improves
- Dollar range-bound amid thin trade and rising oil prices
Oil rises as US-Iran tensions remain elevated
Crude oil settled near session highs as geopolitical tensions remained elevated. Iran signaled a shift toward a “fully offensive” policy and reportedly seized a UAE oil tanker in the Strait of Hormuz, while conflicting reports emerged over US-IRGC backchannel talks. However, diplomatic efforts continued, with Iran engaging Qatar on de-escalation and Oman on an agreement to facilitate shipping through the Strait of Hormuz.
Former official calls for faster BOJ tightening
Former currency chief Takehiko Nakao said the BOJ should raise rates at every meeting to narrow the US-Japan rate gap and support the yen, arguing that Japan’s policy rate could eventually reach 2.25–2.5%. He also noted that Japan retains ample FX reserves for further intervention if needed.
China’s growth momentum weakens in July
China’s economy started H2 on a weak footing, with July activity broadly disappointing. Industrial production slowed to 4.5% YoY, retail sales growth eased to 0.6%, and fixed-asset investment contracted 6.7% in the first seven months, while unemployment rose to 5.2%, reinforcing expectations for further policy support.
China’s property downturn persists
China’s housing market remained under pressure in July, with new-home prices falling 0.18% MoM and resale prices declining 0.29%. Property investment plunged 19.2% YoY in the first seven months, highlighting persistent weakness in the sector.
Thailand’s GDP slows in Q2, but 2026 outlook improves
Thailand’s GDP growth slowed to 1.9% YoY in Q2 from 2.8% in Q1, though slightly above expectations of 1.8%, as weaker private and public consumption offset stronger exports and investment. Private investment accelerated to its strongest pace since 2012, while exports continued to expand. The economy grew 2.4% in H1, prompting the NESDC to raise its 2026 growth forecast to 2.0–2.5%, with the midpoint revised up to 2.2% from 2.0%.
Dollar range-bound amid thin trade and rising oil prices
The 10-year government bond yield (interpolated) on the previous trading day was 2.111, +2.67 bps. The benchmark government bond yield (LB365A) was 2.07, +3.00 bps. Meantime, the latest closed US 10-year bond yields was 4.72, +4.0 bps. USDTHB on the previous trading day closed around 33.00, moving in a range of 33.03 – 33.05 this morning. USDTHB could be closed between 32.95 – 33.15 today. The dollar was little changed in thin early-week trading, with geopolitical developments driving crude oil prices higher after a senior Iranian official signaled a shift toward a more offensive policy stance and set a deadline of a few weeks for the US to implement the MoU. The euro posted modest gains but faded earlier strength and failed to hold above 1.1600, while the British pound retreated from intraday highs but remained near 1.3500 ahead of Tuesday’s UK employment and wage data. Meanwhile, the Japanese yen weakened gradually as USD/JPY rebounded above 159.00, pressured by disappointing Japanese GDP data and a light Asia-Pacific economic calendar.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
