- USDTHB: moving in the range 32.56 – 32.58 this morning, supportive level at 32.50 resistance level at 32.80
- SET Index: 1,517.74 (-0.01%), 18 May 2026
- S&P 500 Index: 7,403.05 (-0.074%), 18 May 2026
- Thai 10-year government bond yield (interpolated): 2.339 (+9.48 bps), 18 May 2026
- US 10-year treasury yield: 4.59 (+0.00 bps), 18 May 2026
- Risk sentiment recovers as Trump delays Iran strike
- Japan GDP surges past forecasts, strengthening BoJ rate hike bets
- China’s April economic data overall miss expectations
- Thai Q1 GDP growth beats forecasts, but 2026 outlook unchanged amid Middle East war
- Dollar falls as Trump delays Iran strike, boosting risk appetite
Risk sentiment recovers as Trump delays Iran strike
Global markets swung sharply overnight as investors balanced hopes for a US-Iran diplomatic breakthrough against fears of a broader escalation in the conflict. The key turning point came after President Trump announced on Truth Social that he had delayed a planned strike on Iran following requests from Saudi Arabia, Qatar, and the UAE for additional time to pursue negotiations. However, he also stressed that the US military remains prepared to launch a full-scale attack at short notice should talks fail. The announcement lifted risk appetite late in the session.
Japan GDP surges past forecasts, strengthening BoJ rate hike bets
Japan’s economy grew far faster than expected in Q1, strengthening the case for further Bank of Japan rate hikes, though the outlook remains clouded by Middle East tensions. GDP rose 2.1% annualised, beating forecasts of 1.7%, supported by consumption, investment, and stronger net exports. The data comes at a sensitive time for Prime Minister Sanae Takaichi, as she balances inflation relief pressures with fiscal credibility concerns.
China’s April economic data overall miss expectations
China’s economic momentum weakens broadly in April as domestic demand softens and investment slips back into contraction, despite resilient exports. Fixed-asset investment falls 1.6% in the first four months of 2026, reversing a 1.7% rise in Q1. Retail sales disappoint with just 0.2% growth, while industrial production slows to 4.1%, the weakest in nearly three years. In contrast, the property sector shows tentative stabilisation, with new-home prices down 0.19%—the smallest drop in a year—and resale prices falling 0.23%, the slowest decline since March 2025.
Thai Q1 GDP growth beats forecasts, but 2026 outlook unchanged amid Middle East war
Thailand’s economy grew 2.8% year-on-year in the first quarter, beating the median forecast of 2.4% and accelerating from 2.5% in the previous quarter. Growth was broad-based, supported by both domestic and external demand, with consumption and investment continuing to expand alongside stronger exports of goods and services. On a quarter-on-quarter basis, GDP rose 0.7%, well above the 0.3% estimate. The full-year 2026 growth outlook was maintained at 1.5%–2.5%.
Dollar falls as Trump delays Iran strike, boosting risk appetite
The 10-year government bond yield (interpolated) on the previous trading day was 2.339, +9.48 bps. The benchmark government bond yield (LB365A) was 2.34, +8.00 bps. Meantime, the latest closed US 10-year bond yields was 4.59, +0.0 bps. USDTHB on the previous trading day closed around 32.70, moving in a range of 32.56 – 32.58 this morning. USDTHB could be closed between 32.50 – 32.80 today. The dollar started the week weaker as Middle East headlines drove market sentiment, supporting G10 peers and lifting risk appetite after President Trump said a planned Iran strike had been delayed to allow negotiations to continue. The comments pressured the dollar and helped equities rebound, while the euro and sterling gained amid broad USD weakness, with GBP further supported by Andy Burnham backing Chancellor Reeves’ fiscal rules. Meanwhile, the Japanese yen traded choppily around 159.00 before ending little changed.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
