- USDTHB: moving in the range 32.705-32.77 this morning supportive level at 32.60 resistance level at 32.85
- SET Index: 1,136.4 (-0.4%), 6 June 2025
- S&P 500 Index: 6,000.4 (+1.02%), 6 June 2025
- Thai 10-year government bond yield (interpolated): 1.693 (-1.94 bps), 6 June 2025
- US 10-year treasury yield: 4.51 (+11.0 bps), 6 June 2025
- US job growth slows, but labor market remains resilient
- Trump says Xi will resume rare earth supplies, sets talks date
- Q1 GDP Growth in Eurozone revised up
- Japan’s household spending declines
- Thailand inflation remains negative in May
- Dollar rebounds on strong NFP data
US job growth slows, but labor market remains resilient
The jobs report was solid, with a headline gain of 139,000, beating the 130,000 forecast but down from a revised 147,000. Net revisions over the past two months dropped to -95,000, signaling a gradual labor market slowdown—though not yet alarming. Unemployment held steady at 4.2%, below the Fed’s year-end forecast of 4.5%, despite a slight drop in labor force participation. Wages rose more than expected, but with the labor market not seen as a current inflation driver, attention is shifting to the inflationary risk from tariffs.
Trump says Xi will resume rare earth supplies, sets talks date
President Donald Trump announced that Chinese President Xi Jinping has agreed to resume the supply of rare-earth materials as trade negotiators from both countries prepare to restart talks on June 9 in London.
Q1 GDP Growth in Eurozone revised up
The euro-area economy grew by 0.6% in the first quarter of 2025, exceeding the earlier estimate of 0.3%, fueled by strong export performance in countries such as Ireland and Germany.
Japan’s household spending declines
Japan’s household spending fell by 0.1% in April compared to the previous year, defying expectations, as high inflation discouraged discretionary purchases. The drop was mainly driven by lower spending on health care and miscellaneous items, while housing expenses surged 10.9%. Overall, the rising cost of living continues to suppress consumer spending.
Thailand inflation remains negative in May
Thailand recorded negative inflation for the second month in a row in May. The headline CPI declined by 0.57% year-on-year, a smaller drop than the expected 0.80%, following a 0.22% decrease in April. The decline in prices was mainly driven by lower energy costs and increased agricultural output, particularly vegetables. In contrast, the core CPI rose by 1.09% compared to the same month last year, exceeding the projected 0.94% increase. The Ministry of Commerce revised its full-year inflation forecast downward to a range of 0.0% to 1.0%, from a previous estimate of 0.3% to 1.3%.
Dollar rebounds on strong NFP data
The 10-year government bond yield (interpolated) on the previous trading day was 1.693, -1.94 bps. The benchmark government bond yield (LB353A) was 1.680, -1.52 bps. Meantime, the latest closed US 10-year bond yields was 4.51, +11.0 bps. USDTHB on the previous trading day closed around 32.63, moving in a range of 32.705– 32.77 this morning. USDTHB could be closed between 32.60 – 32.85 today. The dollar ended the week stronger, largely supported by the US jobs report, which showed a headline gain of 139,000, avoided the downside many anticipated, and helped push the index to a high of 99.36. G10 currencies weakened broadly against the strong US dollar, with the Japanese yen falling the most as USD/JPY reached a high of 145.08. The yen was already under pressure before the dollar’s rise, weighed down by disappointing household spending figures.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
