- USDTHB: moving in the range 33.10 – 33.13 this morning, supportive level at 33.00 resistance level at 33.25
- SET Index: 1,604.44 (+0.40%), 22 Sep 2026
- S&P 500 Index: 7,764.64 (-0.001%), 22 Sep 2026
- Thai 10-year government bond yield (interpolated): 2.251 (-3.91 bps), 22 Sep 2026
- US 10-year treasury yield: 4.96 (+0.00 bps), 22 Sep 2026
- Oil weakens on de-escalation hopes and returning supply
- Fed officials maintain hawkish tone on persistent inflation risks
- US economic data show mixed signals
- Thailand boosts welfare and extends co-payment scheme
- Dollar stays bid despite falling energy prices
Oil weakens on de-escalation hopes and returning supply
Crude prices fell on growing hopes for US-Iran diplomacy and signs of returning supply. WTI and Brent briefly dropped to USD 89.16 and 93.71/bbl as diplomatic efforts intensified and Saudi Arabia restarted its East-West pipeline. Prices briefly pared losses after Iran pushed back on reports of a potential Strait of Hormuz reopening, but weakened again after Trump said US officials held productive talks with an Iranian delegation and further meetings are planned.
Fed officials maintain hawkish tone on persistent inflation risks
Fed officials maintained a hawkish tone, with Barkin and Collins backing last week’s 25bp rate hike. Barkin said the US economy appears to be firming and that inflation risks outweigh employment risks, noting that price pressures extend beyond energy and tariffs and that further hikes may be needed. Collins similarly cited persistently high inflation and renewed energy risks from the Iran conflict, adding that she expects another hike this year before rates remain unchanged through 2027. Meanwhile, Williams defended the Fed’s ample-reserves framework but offered no guidance on the policy-rate outlook.
US economic data show mixed signals
US regional activity data were broadly weaker than expected in September. The Richmond Fed Manufacturing Index fell to -2 from 4, well below expectations of 5, while shipments dropped sharply to -5 from 11. Services revenues improved to 0 from -8, but the Philadelphia Fed Non-Manufacturing Regional Activity Index deteriorated to -22.0, versus expectations of -8.7 and -10.6 previously. Meanwhile, weekly ADP employment growth improved modestly to 20K from 16.25K, suggesting some resilience in the labor market.
Thailand boosts welfare and extends co-payment scheme
Thailand’s Cabinet approved THB 42.7bn in additional cost-of-living support to cushion the impact of the prolonged Middle East energy crisis. The government will raise the state welfare card allowance by THB 700 to THB 1,000 per person in October, while extending the “Thai Chuay Thai Plus” co-payment scheme for another two months through November, with the government covering 60% of eligible spending, capped at THB 1,000 per person over the program.
Dollar stays bid despite falling energy prices
The 10-year government bond yield (interpolated) on the previous trading day was 2.251, -3.91 bps. The benchmark government bond yield (LB365A) was 2.19, -3.00 bps. Meantime, the latest closed US 10-year bond yields was 4.96, +0.0 bps. USDTHB on the previous trading day closed around 33.26, moving in a range of 33.10 – 33.13 this morning. USDTHB could be closed between 33.00 – 33.25 today. The dollar remained firm on Tuesday as Fed rate-hike expectations held despite continued declines in energy prices. Fed officials Barkin and Collins backed last week’s hike. Geopolitics also remained in focus at the UN General Assembly, where Trump described talks between US and Iranian officials as productive and reiterated his preference for a deal. Reports that Iran could reopen the Strait within seven days if the US ends its blockade were later disputed by Iranian sources. Against the stronger dollar, the euro edged lower amid limited regional catalysts, the British pound weakened but remained within the 1.3300 handle as UK-US tariff discussions drew attention, while the Japanese yen gave up early gains, with USD/JPY recovering from below 157.00 to trade broadly flat.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
