- USDTHB: moving in the range 32.87 – 32.885 this morning, supportive level at 32.80 resistance level at 33.00
- SET Index: 1,621.89 (+0.19%), 8 Sep 2026
- S&P 500 Index: 7,673.52 (-0.58%), 8 Sep 2026
- Thai 10-year government bond yield (interpolated): 2.260 (+1.18 bps), 8 Sep 2026
- US 10-year treasury yield: 4.80 (+2.00 bps), 8 Sep 2026
- Middle East tensions escalate as attacks target key energy infrastructure
- US consumers see stable inflation but weaker labor market outlook
- Japan’s Katayama pledges action to maintain orderly FX markets
- China exports surge 25%, pushing trade surplus higher
- Dollar trades mixed as markets await US inflation data
Middle East tensions escalate as attacks target key energy infrastructure
Markets shifted back into risk-off mode as Middle East tensions escalated, with Saudi Arabia suspending operations at several energy facilities following major Houthi attacks. Tensions intensified further after reports of US strikes on Iranian targets near Kharg Island and Jask, prompting Iran to threaten retaliation against US interests and regional oil infrastructure. The escalation renewed concerns over potential supply disruptions and the risk of the conflict spreading directly to key energy infrastructure.
US consumers see stable inflation but weaker labor market outlook
According to NY Fed survey, US inflation expectations were broadly stable in August, with one-year expectations unchanged at 3.6%, while three-year expectations eased to 3.2%. Labour market sentiment weakened, with expected unemployment rising to its highest since April 2020 and confidence in finding a new job declining. Household financial conditions also deteriorated, pointing to growing consumer caution despite stable inflation expectations.
Japan’s Katayama pledges action to maintain orderly FX markets
Japan’s Finance Minister Katayama said the government will strengthen efforts to secure funding for a consumption tax cut on food while maintaining clear communication to preserve fiscal credibility. On FX, she reiterated that Japan’s stance remains unchanged since the Japan-US joint intervention and said authorities will continue coordinating closely with the US to ensure orderly currency markets.
China exports surge 25%, pushing trade surplus higher
China’s export growth accelerated to 25% YoY in August, while imports rose 28.2%, widening the monthly trade surplus to $119.1bn and pushing the year-to-date surplus close to $806bn. Strong AI-related global demand continues to support trade, but the growing surplus is adding to tensions with major partners. China’s surplus with the US surged 44% YoY to more than $29bn as exports jumped 34.4%, while shipments to the EU rose just 6.7%.
Dollar trades mixed as markets await US inflation data
The 10-year government bond yield (interpolated) on the previous trading day was 2.260, +1.18 bps. The benchmark government bond yield (LB365A) was 2.22, +1.00 bps. Meantime, the latest closed US 10-year bond yields was 4.80, +2.0 bps. USDTHB on the previous trading day closed around 32.88, moving in a range of 32.87 – 32.885 this morning. USDTHB could be closed between 32.80 – 33.00 today. The dollar traded choppily on Tuesday as escalating US-Iran tensions drove swings in oil prices ahead of this week’s US CPI and PPI releases, while the dollar failed to benefit from higher US 2-year yields and oil prices following Houthi attacks on Saudi energy facilities. Reports of US strikes on Iranian oil tankers and Iran’s warning of retaliation against US bases kept geopolitical risks in focus, while larger US Treasury buybacks of longer-dated securities may also be weighing on the dollar amid renewed debasement concerns. Elsewhere, the euro was broadly unchanged around 1.1600, while the British pound edged lower despite limited market reaction to BoE commentary, with Governor Bailey warning that the US-Iran conflict has pushed energy prices higher and tilted inflation risks to the upside. The Japanese yen extended its gains, with USD/JPY falling toward 153.87 as negative US-Iran headlines outweighed the usual support from higher US yields.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
