- USDTHB: moving in the range 33.50 – 33.55 this morning, supportive level at 33.70 resistance level at 33.75
- SET Index: 1,576.45 (+0.31%), 5 Oct 2026
- S&P 500 Index: 7,773.95 (+0.66%), 5 Oct 2026
- Thai 10-year government bond yield (interpolated): 2.398 (+0.69bps), 5 Oct 2026
- US 10-year treasury yield: 5.310 (+3.00bps), 5 Oct 2026
- Saudi supply strain signals prolonged tightness in global oil inventories
- U.S. services activity remained resilient, but rising input costs point to renewed inflation risks
- Eurozone business activity reached a 3½-year high, demonstrating resilience despite rising inflation pressures
- Japan’s service-sector growth softened in September, though domestic demand remained resilient
- Thailand’s STI strategy aims to strengthen resilience and attract long-term investment
- Dollar strength is likely to persist as inflation risks outweigh labor market weakness
Saudi supply strain signals prolonged tightness in global oil inventories
Saudi officials warn that rebuilding global oil inventories after war-related disruptions and Strait of Hormuz instability could take up to two years. Around 3 billion barrels of supply have been lost versus 1 billion released from stocks, prompting a fresh 100‑million‑barrel G7 reserve release and keeping energy markets sensitive to further Middle East tensions.
U.S. services activity remained resilient, but rising input costs point to renewed inflation risks
ISM reported that the U.S. Services PMI eased to 54.9 in September from 55.4 in August, remaining firmly in expansion territory. While the new orders index stayed strong at 59.8 and the employment index recovered to 50.1, the prices-paid index rose to 74.0 from 72.6, reflecting mounting cost pressures from higher energy prices and supply-chain constraints. The data suggest solid economic momentum but reinforce concerns that inflation could remain elevated and support the case for further Fed tightening later this year.
Eurozone business activity reached a 3½-year high, demonstrating resilience despite rising inflation pressures
The S&P Global Eurozone Composite PMI rose to 53.1 in September from 52.0 in August, its highest level since April 2023, while the Services PMI climbed to 53.0 from 51.6. Stronger domestic and foreign demand, particularly in IT and AI-related services, supported growth, with the survey signaling 0.4% QoQ GDP expansion. However, accelerating inflation, which reached 3.8% YoY, and rising price pressures continue to reinforce expectations of a restrictive ECB policy stance.
Japan’s service-sector growth softened in September, though domestic demand remained resilient
The S&P Global Japan Services PMI fell to 51.3 in September from a five-month high of 52.5 in August, reflecting slower growth in business activity and new orders, partly due to earthquake-related disruptions. Despite the slowdown, new orders expanded for a 27th consecutive month and employment growth accelerated to its fastest pace since February. The broader Composite PMI eased to 52.3 from 53.5, indicating that Japan’s economy continues to expand, albeit at a more moderate pace.
Thailand’s STI strategy aims to strengthen resilience and attract long-term investment
The framework prioritizes short‑term stabilization, structural transition and future‑oriented investment, indicating a focus on balancing near‑term resilience with productivity‑enhancing reforms to strengthen medium‑term growth prospects and investor confidence.
Dollar strength is likely to persist as inflation risks outweigh labor market weakness
The 10-year government bond yield (interpolated) on the previous trading day was 2.398 (+0.69bps). The benchmark government bond yield (LB365A) was 2.348, +0.79 bps. Meantime, the latest closed US 10-year bond yields was 5.310 (+3.00bps). USDTHB on the previous trading day closed around 33.65, moving in the range 33.50 – 33.55 this morning. USDTHB could be closed between 33.70-33.75 today. The Dollar remains supported despite the softer US payrolls print, resilient services activity (ISM PMI 54.9) and rising input costs suggest inflation risks remain elevated. At the same time, Eurozone inflation accelerated and producer prices surged , reinforcing a higher-for-longer global rate environment.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
