- USDTHB: moving in the range 32.82-32.855 this morning supportive level at 32.60 resistance level at 33.00
- SET Index: 1,160.7 (-0.2%), 28 May 2025
- S&P 500 Index: 5,888.6 (-0.56%), 28 May 2025
- Thai 10-year government bond yield (interpolated): 1.827 (-1.91 bps), 28 May 2025
- US 10-year treasury yield: 4.47 (+4.0 bps), 28 May 2025
- FOMC minutes show Fed waiting for clarity on outlook
- US court blocks Trump tariffs over authority limits
- ECB says consumers’ inflation expectations rise again in April
- BoK cuts rate to shield economy from tariffs
- Dollar edges higher, gains remain uncertain
FOMC minutes show Fed waiting for clarity on outlook
FOMC minutes from May 7th showed policymakers favored a cautious approach, waiting for clearer economic signals amid rising uncertainty. They noted tariffs were weighing more heavily on growth than expected. Most officials flagged persistent inflation as a risk, alongside rising unemployment concerns, and acknowledged potential trade-offs if inflation stays high while growth slows. While the minutes don’t reflect recent easing in U.S.-China trade tensions, some members observed unusual asset price behavior that could have lasting effects. Officials reaffirmed commitment to the 2% inflation target to maintain credibility and policy effectiveness.
US court blocks Trump tariffs over authority limits
A US trade court blocked President Trump’s tariffs, ruling he exceeded his authority by imposing broad duties on trade-surplus nations. The court stated that only Congress has the constitutional power to regulate international commerce, and that power isn’t overridden by presidential emergency authority.
ECB says consumers’ inflation expectations rise again in April
Euro-area consumers’ inflation expectations rose for a second month in April, seeing prices up 3.1% over the next year. While the ECB remains confident of reaching its 2% inflation target, early May data showed France’s inflation at 0.6%. Meanwhile, consumer sentiment worsened, with expectations of a 1.9% economic contraction and a rise in unemployment to 10.5% over the next 12 months.
BoK cuts rate to shield economy from tariffs
The Bank of Korea cut interest rates by 0.25% to 2.5% to support the export-driven economy amid trade tariffs and political turmoil. It also lowered its 2024 growth forecast to 0.8% from 1.5%. This is the fourth rate cut since easing began in October.
Dollar edges higher, gains remain uncertain
The 10-year government bond yield (interpolated) on the previous trading day was 1.827, -1.91 bps. The benchmark government bond yield (LB353A) was 1.82, -2.24 bps. Meantime, the latest closed US 10-year bond yields was 4.47, +4.0 bps. USDTHB on the previous trading day closed around 32.70, moving in a range of 32.82– 32.855 this morning. USDTHB could be closed between 32.60 – 33.00 today. The dollar extended gains, with the index nearing 100 despite little new US data and calm FOMC minutes that emphasized a wait-and-see approach and noted tariffs weigh more on growth than expected. Trade news included the US banning chip sales to China and upcoming US-EU trade talks. The euro slipped below 1.1300 due to dollar strength, as EU and US trade officials prepare for frequent discussions. The yen weakened further against the dollar, with USD/JPY briefly surpassing 145 amid rising US yields.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
