- USDTHB: moving in the range 33.60 – 33.61 this morning, supportive level at 33.50 resistance level at 33.70
- SET Index: 1,496.3 (+1.57%), 10 Nov 2026
- S&P 500 Index: 7,520.9 (-0.38%), 10 Nov 2026
- Thai 10-year government bond yield (interpolated): 1.99 (-5.94 bps), 10 Nov 2026
- US 10-year treasury yield: 4.98 (+10 bps), 10 Nov 2026
- U.S. consumer prices rise more than expected as core inflation stays sticky
- Fed's Logan and Bowman lean hawkish as inflation pressures broaden
- BoE's Lombardelli warns a low-hiring labour market may keep wage pressure sticky
- China's exports beat forecasts while imports surge on AI-related demand
- Thai Cabinet approves import duties of up to 30% on e-commerce goods
- Dollar strengthens as hot U.S. CPI lifts Fed hike expectations
U.S. consumer prices rise more than expected as core inflation stays sticky
The U.S. Consumer Price Index rose 0.4%m/m in October, easing from 0.6% in September but above the 0.3% consensus. Core CPI also increased 0.3%m/m for a third straight month, beating the expectation of 0.2%. Energy prices rose 0.7% after a 5.2% jump in the prior month, while shelter climbed 0.3% and accounted for over 30% of the headline gain. Meanwhile, food prices increased 0.5% (beef +0.9%) and motor vehicle insurance rose 0.7%. In contrast, used cars and trucks fell 1.2%. The BLS did not publish year-on-year figures, as the 2025 government shutdown prevented data collection in October last year. Against this backdrop, markets moved to price in a December Fed hike, with some expectations on a 50 bps move.
Fed's Logan and Bowman lean hawkish as inflation pressures broaden
Dallas Fed President Lorie Logan said the FOMC needs at least two more 25 bps rate increases and that it may be possible to move more rapidly this winter than the Fed has so far this fall. Meanwhile, Fed Vice Chair for Supervision Michelle Bowman said inflation pressures are persisting and may be broadening, estimating that core PCE inflation likely rose to 3.3% in October.
BoE's Lombardelli warns a low-hiring labour market may keep wage pressure sticky
Bank of England Deputy Governor Clare Lombardelli said the UK labour market is cooling mainly through weaker hiring rather than more firing, leaving it stuck in a 'low gear'. The unemployment rate stood at 4.7% in the three months to August, after peaking above 5% late last year. However, she warned that if jobseekers are poorly matched to available roles, higher unemployment may do less to ease wage pressures than in the past. At the same time, she noted that activity has been more resilient to the energy price shock than expected, with redundancies remaining relatively low.
China's exports beat forecasts while imports surge on AI-related demand
China's exports rose 35.2%y/y in October to USD 412.3 billion, slightly below September's 36.3% but above the 33.5% consensus. Meanwhile, imports jumped 41.6%y/y, well above the 32.0% expectation, driven by tech-related goods, energy and critical minerals. As a result, the trade surplus narrowed to USD 105.3 billion from a record USD 133.5 billion in September. Exports to the U.S. rose 32.9%, while high-tech exports gained 67%, the fastest pace since early 2021. The cumulative surplus reached USD 1.04 trillion in the first ten months of the year, keeping China on track for another record annual surplus.
Thai Cabinet approves import duties of up to 30% on e-commerce goods
The Thai Cabinet approved new rules for collecting import duties on goods bought from overseas e-commerce platforms, with rates capped at 30% based on customs tariff classifications. The rules apply to parcels entering via express delivery and international post, effectively revoking earlier duty reductions and exemptions. For instance, tariffs on headphones and fitness equipment will rise to 30% from 10%, while jewellery will increase from zero. The Customs Department expects the measure to lift revenue to THB 6.3 billion in FY2027 from THB 4.8 billion in FY2026, and the Ministry of Finance said it aims to support Thai SMEs facing intense price competition.
Dollar strengthens as hot U.S. CPI lifts Fed hike expectations
The 10-year government bond yield (interpolated) on the previous trading day was 1.99, -5.94 bps. The benchmark government bond yield (LB365A) was 1.89, -9.00 bps. Meantime, the latest closed US 10-year bond yields was 4.98, 10.00 bps. USDTHB on the previous trading day closed around 33.39. Moving in a range of 33.60 – 33.61 this morning. USDTHB could be closed between 33.50 - 33.70 today. The dollar strengthened against all major currencies after a hotter-than-expected U.S. CPI and hawkish remarks from Fed officials pushed Treasury yields sharply higher, Supporting another Fed interest rate hike in December. With the U.S. bond market closed for Veterans Day today, investors will look to Friday's PPI data for further clues on the size of the next Fed move. Markets will closely watch Friday's PPI release for more insight into the Fed's next rate move.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
