- USDTHB: moving in the range 33.16 – 33.175 this morning, supportive level at 33.00 resistance level at 33.30
- SET Index: 1,575.07 (-0.86%), 2 Sep 2026
- S&P 500 Index: 7,666.60 (+0.46%), 2 Sep 2026
- Thai 10-year government bond yield (interpolated): 2.264 (+5.22 bps), 2 Sep 2026
- US 10-year treasury yield: 4.79 (+0.00 bps), 2 Sep 2026
- Oil extends gains as US-Iran tensions keep geopolitical risks elevated
- ADP signals further cooling in US labor market
- Williams sees policy in good place, labor market remains solid
- BoJ’s Takata opens door to larger, faster rate hikes
- BoC holds rates while RBNZ hikes as inflation risks rise
- Dollar eases as markets await US payrolls
Oil extends gains as US-Iran tensions keep geopolitical risks elevated
Crude extended its weekly gains as renewed US-Iran tensions kept geopolitical risks elevated. Iran reiterated that it remains open to negotiations but demanded US commitments before moving to reopen the Strait of Hormuz, while Trump said the latest US strikes targeted Iran’s mine-related capabilities and warned further attacks remain possible, despite suggesting the renewed campaign would be short-lived.
ADP signals further cooling in US labor market
US private payrolls rose by 38k in August, slowing from a downwardly revised 44k in July and missing the 47k consensus, marking the weakest pace of job creation since January. Hiring was uneven, with manufacturing, professional services, and information shedding jobs, while education and healthcare, construction, and leisure and hospitality recorded solid gains.
Williams sees policy in good place, labor market remains solid
Fed’s Williams said rates are well positioned to balance the dual mandate, with future policy dependent on incoming data. He sees tariffs and the Middle East conflict as the main inflation risks but noted no second-round effects, with inflation expectations well anchored and price pressures gradually easing. The labor market remains solid, while higher Treasury yields largely reflect economic strength and AI-driven investment rather than inflation concerns.
BoJ’s Takata opens door to larger, faster rate hikes
BoJ’s hawkish Takata left the door open to larger and back-to-back rate hikes, signalling support for a faster pace of tightening. Meanwhile, Governor Ueda hinted at a potential hike later this month, saying the BoJ will weigh upside inflation risks when deciding policy.
BoC holds rates while RBNZ hikes as inflation risks rise
The BoC held rates at 2.25%, as expected, but highlighted rising inflation risks from elevated oil prices and tariffs, with Governor Macklem stressing that future policy remains data dependent. Meanwhile, the RBNZ raised rates by 25bps to 2.75%, as expected, and signalled further tightening is likely as it gradually moves policy toward neutral, though the path remains uncertain.
Dollar eases from two-week high
The 10-year government bond yield (interpolated) on the previous trading day was 2.264, +5.22 bps. The benchmark government bond yield (LB365A) was 2.23, +6.00 bps. Meantime, the latest closed US 10-year bond yields was 4.79, +0.0 bps. USDTHB on the previous trading day closed around 33.32, moving in a range of 33.16 – 33.175 this morning. USDTHB could be closed between 33.00 – 33.30 today. The dollar edged lower against mixed G10 peers as geopolitics dominated amid limited US catalysts. Fed’s Williams backed the latest hold and maintained a data-dependent stance ahead of Waller and Friday’s NFP. The euro traded choppily before ending broadly flat below 1.1600 amid a lack of meaningful catalysts, while the British pound softened slightly around 1.3500 with little UK data to drive price action. The Japanese yen was the clear G10 outperformer, with USD/JPY falling from 159.58 to as low as 158.21 before partially recovering, supported by hawkish comments from BoJ dissenter Takata. In addition, the yen strengthened further after US Treasury Secretary Bessent remarked that he knew “what the Japanese are planning on doing.”
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
