- USDTHB: moving in the range 32.45-32.58 this morning supportive level at 32.30 resistance level at 32.60
- SET Index: 1,176.4 (+0.25%), 23 May 2025
- S&P 500 Index: 5,802.8 (-0.67%), 23 May 2025
- Thai 10-year government bond yield (interpolated): 1.86 (-2.66 bps), 23 May 2025
- US 10-year treasury yield: 4.51 (-3.0 bps), 23 May 2025
- Trump delays 50% tariffs on EU to July 9
- Lower prices boost new US home sales surged to more than a three-year high in April
- UK retail sales jump in April, supported by favorable climate
- Indonesia to launch economic stimulus to boost consumption
- Dollar slips on fiscal health worries
Trump delays 50% tariffs on EU to July 9
President Donald Trump said Sunday that he agreed to an extension on the 50% tariff deadline on the European Union until July 9 after receiving a call from Ursula von der Leyen, President of the European Commission after Trump is recommending the implementation of a 50% tariff on imports from the EU starting June 1, announced Friday. The U.S. president also criticized tech giant Apple, vowing to impose a 25% baseline tariff on devices sold in the U.S. but manufactured abroad. The news comes days after Bloomberg reported that the EU sent new proposals to the U.S. in an effort to advance trade negotiations pertaining to currently paused reciprocal tariffs on the bloc.
Lower prices boost new US home sales surged to more than a three-year high in April
New home sales soared 10.9% to a seasonally adjusted annual rate of 743,000 units last month, the highest level since February 2022, the Commerce Department's Census Bureau said. The sales pace for March was revised down to a rate of 670,000 units from the previously reported 724,000 units, while that for February was downgraded to 653,000 units from 674,000 units. The median new house price dropped 2.0% to $407,200 in April from a year earlier. Prices could moderate further as the National Association of Homebuilders reported last week that the share of builders cutting prices in May was the highest in nearly 1-1/2 years.
UK retail sales jump in April, supported by favorable climate
Retail sales volumes jumped in April by a much stronger than expected 1.2% month-on-month, the Office for National Statistics said on Friday, after a downwardly revised 0.1% increase in March. Compared with April 2024, retail sales volumes were 5.0% higher, the biggest increase since early 2022. However, March's annual increase was revised down to 1.9% from 2.6% - a reminder of the fickleness of retail sales data. Sunny weather boosted British retail sales in April and households grew cheerier this month suggested consumers might be a bright spot in an otherwise drab outlook for the economy.
Indonesia to launch economic stimulus to boost consumption
Indonesia plans to announce economic stimulus measures on June 5 to revive activity and boost consumer purchasing power, hoping to push economic growth to around 5% this quarter. The incentives include a 50% discount on electricity bills for around 79.3 million households and food handouts for 18.3 million lower-income households in June and July. The government also plans to give cash transfer for low-income workers and a discount on work accident insurance for workers in labor-intensive industries.
Dollar slips on fiscal health worries
The 10-year government bond yield (interpolated) on the previous trading day was 1.86, -2.66 bps. The benchmark government bond yield (LB353A) was 1.858, -2.73 bps. Meantime, the latest closed US 10-year bond yields was 4.51, -3.00 bps. USDTHB on the previous trading day closed around 32.568 Moving in a range of 32.45 – 32.58 this morning. USDTHB could be closed between 32.30-32.60 today. The U.S. dollar fell Friday, on course for a losing week on concerns over the country’s fiscal health as President Donald Trump’s tax bill moves through Congress. The Dollar Index fell on track for a weekly loss of around 1.6%, snapping a four-week winning streak. Worries about the cost of the measure – and its impact on the nation’s debt and deficit – sent long-term Treasury yields higher. The 30-year Treasury bond yield touched a high of 5.161%, its highest level since October 2023, while the 10-year Treasury note breached 4.6%.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
