- USDTHB: moving in the range 33.75 - 33.78 this morning, supportive level at 33.65 resistance level at 33.85
- SET Index: 1,502.1 (+0.39%), 11 Nov 2026
- S&P 500 Index: 7,619.4 (+1.30%), 11 Nov 2026
- Thai 10-year government bond yield (interpolated): 2.03 (+3.94 bps), 11 Nov 2026
- US 10-year treasury yield: 4.88 (+10 bps), 10 Nov 2026
- U.S. mortgage applications jump 6.2% as rates fall for a fourth week
- German inflation confirmed at 2.8% as fuel discount tempers energy costs
- Japanese manufacturers' mood hits five-year high on booming chip demand
- BoT keeps door open to rate hikes without waiting for potential growth
- Thailand and U.S. conclude tariff talks in principle ahead of Manila statement
- Dollar extends gains as Fed hike expectations firm
U.S. mortgage applications jump 6.2% as rates fall for a fourth week
Mortgage applications in the U.S. rose 6.2% in the week ending November 6, more than reversing the prior week's 1.2% decline, according to the Mortgage Bankers Association. The Purchase Index increased 7.5% and refinancing applications rose 4.5%, while the refinance share was unchanged at 39.8%. Meanwhile, the average 30-year fixed contract rate eased 9 bps to 7.21%, its fourth consecutive weekly decline. However, purchase applications remain about 18% below a year earlier, and the jump in Treasury yields after the hot October CPI could push mortgage rates back up in the coming weeks.
German inflation confirmed at 2.8% as fuel discount tempers energy costs
Germany's inflation rate was confirmed at 2.8%y/y in October, down from 3.3% in September, according to final data from Destatis. On a monthly basis, consumer prices fell 0.2%m/m, while the harmonised HICP also rose 2.8%y/y. Energy remained the main driver at +12.2%y/y, easing from +14.9%, as the fuel discount introduced on 1 October cut motor fuel prices by 5.5%m/m, although fuel still cost 28.9% more than a year earlier. Also, core inflation excluding food and energy slowed to 2.1% from 2.4%, staying below the headline rate. Nevertheless, Bundesbank President Joachim Nagel said a December ECB rate hike looks rather obvious, with euro area inflation still around twice the 2% target.
Japanese manufacturers' mood hits five-year high on booming chip demand
The Reuters Tankan index for Japanese manufacturers rose to +27 in November from +22, the highest reading since August 2021, as strong semiconductor demand lifted sentiment. Electronics jumped to +39 from +25 and precision machinery improved to +42 from +38, while the non-manufacturers' index surged to +35 from +23, the strongest since June 2018. Firms expect the manufacturers' index to edge up to +28 in February. Against this backdrop, robust memory chip demand continues to support Asian electronics supply chains, including Thai component exporters.
BoT keeps door open to rate hikes without waiting for potential growth
At its Monetary Policy Forum on November 11, the Bank of Thailand said it could raise rates before GDP reaches its 2.7% potential, and could act pre-emptively if inflation or financial stability risks build up. Minutes of the October 28 meeting, released the same day, showed the MPC unanimously held rate at 1.00% to support uneven, K-shaped recovery. The BoT now forecast GDP growth of 2.4% in 2026 (up from 2.3%). The next policy review is on December 23, 2026.
Thailand and U.S. conclude tariff talks in principle ahead of Manila statement
Thailand and the United States have concluded reciprocal tariff negotiations in principle, Deputy Prime Minister and Foreign Minister Sihasak Phuangketkeow said on Wednesday, adding that both sides were satisfied and the agreement would go to Parliament. The Cabinet on Tuesday authorised Prime Minister Anutin Charnvirakul to announce or sign a joint statement with President Trump at the ASEAN Summit in Manila on November 15-17. The statement confirms a substantial conclusion of the Agreement on Reciprocal Trade but does not specify a tariff rate, although Anutin has said he expects a rate of around 19%.
Dollar extends gains as Fed hike expectations firm
The 10-year government bond yield (interpolated) on the previous trading day was 2.03, +3.94 bps. The benchmark government bond yield (LB365A) was 1.94, +5.00 bps. Meantime, the latest closed US 10-year bond yields was 4.98, 10.00 bps. USDTHB on the previous trading day closed around 33.64. Moving in a range of 33.75 - 33.78 this morning. USDTHB could be closed between 33.65 - 33.85 today. The dollar extended its strength as hot U.S. inflation and hawkish remarks from Fed officials cemented expectations of a December rate hike, even as a rebound in AI-related stocks improved risk sentiment. U.S. weekly jobless claims tonight will be the key market focus as investors assess whether labor market strength supports a faster pace of Fed tightening.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
