- USDTHB: moving in the range 33.19-33.23 this morning supportive level at 33.10 resistance level at 33.40
- SET Index: 1,151.0 (+0.8%), 18 Apr 2025
- S&P 500 Index: 5,282.7 (+0.1%), 17 Apr 2025
- Thai 10-year government bond yield (interpolated): 1.882 (-5.12 bps), 18 Apr 2025
- US 10-year treasury yield: 4.34 (+5.0 bps), 17 Apr 2025
- Fed’s Daly says rates on hold but cuts still possible this year
- Japan looks to car safety rules for deal with Trump
- China pledges to help tariff-hit exporters find local buyers
- China accelerates budget spending to counter tariff woes
- Korea’s 20-day exports drop on lower US exports amid tariffs
- The US dollar held steady in thin holiday trading
Fed’s Daly says rates on hold but cuts still possible this year
San Francisco Federal Reserve President Mary Daly stated that interest rates might need to stay elevated longer than expected due to ongoing inflation concerns, though rate cuts are still possible later this year. She also expressed support for the Fed’s March projections, which suggest two quarter-point cuts in 2024.
Japan looks to car safety rules for deal with Trump
Japan may ease its car safety standards to move forward with trade talks with US President Trump, following recent tariff discussions in Washington. US automakers have long criticized Japan’s tough regulations and market barriers. A US report also cited Japan’s refusal to accept American safety certifications and challenges for US firms entering the market. As part of the negotiations, Japan is also considering increasing rice imports.
China pledges to help tariff-hit exporters find local buyers
China’s Commerce Ministry has pledged to leverage the domestic market to support businesses facing "external shocks" from ongoing trade tensions with the U.S. Major e-commerce companies such as JD.com, Alibaba, and Tencent have introduced initiatives to help exporters shift focus to domestic consumers. JD.com, in particular, has committed to purchasing at least 200-billion-yuan worth of export-intended products over the next year. Additionally, the ministry recently kicked off a campaign in Hainan province aimed at boosting domestic sales of goods originally meant for export, with intentions to roll out the program in 10 more provinces.
China accelerates budget spending to counter tariff woes
China’s government spending rose 5.6% in Q1 to 9.26 trillion yuan, the strongest first-quarter growth in three years, as it ramps up support amid weak global demand and U.S. trade tensions. Nearly 22% of annual spending was used early in the year.
Korea’s 20-day exports drop on lower US exports amid tariffs
South Korea’s exports for the first 20 days of April fell 5.2% from a year earlier, dragged down by US exports as the US has introduced 10% blanket tariffs and 25% auto tariffs. In term of products, exports of automobiles fell 6.5% and auto parts lost 1.7%, while semiconductors rose 10.7%.
The US dollar held steady in thin holiday trading
The 10-year government bond yield (interpolated) on the previous trading day was 1.882, -5.12 bps. The benchmark government bond yield (LB353A) was 1.87, -5.45 bps. Meantime, the latest closed US 10-year bond yields was 4.34, +5.0 bps. USDTHB on the previous trading day closed around 33.39, moving in a range of 33.19 – 33.23 this morning. USDTHB could be closed between 33.10 – 33.40 today. The dollar index hovered below 99.50 during early European hours on Friday, weighed down by concerns over the potential economic fallout from tariffs. With investors focused on ongoing US trade negotiations, overall market activity remained quiet due to the Good Friday holiday.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
