- USDTHB: moving in the range 34.635-34.74 this morning supportive level at 34.55 resistance level at 34.85
· SET Index: 1,404.8 (+0.32%), 21 Dec 2023
· S&P 500 Index: 4,746.8 (+1.02%), 22 Dec 2023
· Thai 10-year government bond yield (interpolated): 2.75 (-2.35 bps), 21 Dec 2023
· US 10-year treasury yield: 3.89 (+3.00 bps), 21 Dec 2023
- US labor market resilience keeps economy afloat as year ends
- UK budget deficit shows limited room for election giveaways
- Japan's core inflation slows in November, eases pressure on BOJ
- Dollar index slips to 1-week low; traders eye Friday's U.S. inflation report
US labor market resilience keeps economy afloat as year ends Initial claims for state unemployment benefits increased 2,000 to a seasonally adjusted 205,000 for the week ended Dec. 16. Economists polled by Reuters had forecast 215,000 claims for the latest week. Unadjusted claims fell 9,225 to 239,865 last week as large declines in California and Georgia more than offset a sizeable increase in Ohio. Though the claims data are volatile around this time of the year because of holidays, they remain consistent with a fairly healthy labor market, which is expected to keep the economy from recession next year. A survey from the Conference Board on Wednesday showed the share of consumers viewing jobs as plentiful was the highest in five months in December.
UK budget deficit shows limited room for election giveaway The budget picture for British Prime Minister Rishi Sunak has deteriorated, but a smaller debt interest bill thanks to slowing inflation could yet restore some of his limited room for pre-election tax cuts. Public sector net borrowing, excluding state-owned banks, totaled 116.4 billion pounds ($147 billion) in the financial year so far, 24.4 billion pounds higher than in the April-November period a year earlier, the Office for National Statistics said. In November alone, the deficit of 14.3 billion pounds was bigger than expected - a Reuters poll of economists had pointed to a shortfall of 12.9 billion pounds. Britain's statistics office revised up borrowing for each of the previous seven months by 3.7 billion pounds in total.
Japan's core inflation slows in November, eases pressure on BOJ Japan's core inflation slowed sharply in November to a pace unseen in over a year, highlighting easing cost-push pressures that may give the central bank more time before phasing out its massive monetary stimulus. While service prices continued to rise, some analysts doubt whether the increase will accelerate enough to create a more demand-driven inflation seen as a prerequisite for the Bank of Japan (BOJ) to exit ultra-loose policy. The core consumer price index (CPI), which excludes volatile fresh food but includes fuel costs, rose 2.5% in November from a year earlier, matching market forecasts and slowing from a 2.9% gain in October. It was the slowest pace of rise since a 2.4% growth marked in July 2022.
Dollar index slips to 1-week low; traders eye Friday's U.S. inflation report The 10-year government bond yield (interpolated) on the previous trading day was 2.75, -2.35 bps. The benchmark government bond yield (LB31DA) was 2.82, -8.00 bps. Meantime, the latest closed US 10-year bond yields was 3.89, +3.00 bps. USDTHB on the previous trading day closed around 34.94 Moving in a range of 34.635-34.74 this morning. USDTHB could be closed between 34.55-34.85 today. The dollar hit a one-week low against a basket of major currencies on Thursday as U.S. equities rebounded from the prior day's sell-off and investors braced for Friday's U.S. inflation data for clues to the path of future Federal Reserve policy. Data earlier Thursday showed gross domestic product increased at a 4.9% annualized rate last quarter, revised down from the previously reported 5.2%. The consumer spending element of third-quarter GDP was revised downward to 3.1% from 3.6% in the previous estimate. The U.S. currency rose on Wednesday in a safe-haven bid after U.S. stocks' abrupt afternoon sell-off. The Fed held interest rates steady last week and policymakers signaled in new economic projections that the historic monetary policy tightening engineered over the last two years is at an end and lower borrowing costs are coming in 2024.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
