- USDTHB: moving in the range 32.45-32.49 this morning supportive level at 32.35 resistance level at 32.55
- SET Index: 1,114.5 (-0.7%), 16 June 2025
- S&P 500 Index: 6,033.1 (+0.93%), 16 June 2025
- Thai 10-year government bond yield (interpolated): 1.71 (+2.99 bps), 16 June 2025
- US 10-year treasury yield: 4.46 (+5.0 bps), 16 June 2025
- Israel strikes to continue amid Iran diplomacy hints
- The NY Fed manufacturing activity contracts while outlook improves
- China home prices drop sharply amid pledge of support
- China’s retail sales jump, industrial output falls short in May
- Dollar slips as risk sentiment improves
Israel strikes to continue amid Iran diplomacy hints
Israel will continue its military campaign against Iran’s missile and nuclear infrastructure, regardless of any US negotiation efforts. Strategic Affairs Minister Ron Dermer said the operation is “ahead of schedule” and intends to set Iran’s progress back by years. Meanwhile, President Donald Trump urged the evacuation of Tehran and pressed Iran to agree to a nuclear deal.
The NY Fed manufacturing activity contracts while outlook improves
The NY Fed manufacturing survey contracted for a fourth straight month in June, with the business conditions index falling to -16. New orders and shipments hit three-month lows, while the six-month outlook surged over 23 points on improved expectations.
China home prices drop sharply amid pledge of support
China’s new-home prices recorded their steepest decline in seven months in May, highlighting the urgency behind renewed government efforts to support the struggling property sector. Prices in 70 major cities, excluding subsidized housing, dropped 0.22% from April, which had seen a 0.12% decrease. Meanwhile, second-hand home prices fell by 0.5%, marking the sharpest drop in eight months. In addition, residential property sales by value were down 6.1% year-on-year, while real estate investment plunged 12%, the largest annual decline since December.
China’s retail sales jump, industrial output falls short in May
China’s retail sales rose by 6.4% in May, surpassing forecasts, boosted by an early online shopping event and government incentives for home appliance purchases. On the other hand, industrial production increased by 5.8%, falling slightly short of expectations, as elevated US tariffs hurt export demand and dampened local manufacturing. Meanwhile, fixed asset investment climbed 3.7%, below the projected 4%.
Dollar slips as risk sentiment improves
The 10-year government bond yield (interpolated) on the previous trading day was 1.71, +2.99 bps. The benchmark government bond yield (LB353A) was 1.72, +3.26 bps. Meantime, the latest closed US 10-year bond yields was 4.46, +5.0 bps. USDTHB on the previous trading day closed around 32.47, moving in a range of 32.45– 32.49 this morning. USDTHB could be closed between 32.35 – 32.55 today. The Dollar dipped early in the week amid broad risk-on sentiment, despite the escalating Israel/Iran conflict, as some traders remain hopeful for a ceasefire and believe the peak of geopolitical risk has passed. The euro and The British pound all posted similar gains. ECB’s de Guindos commented that EUR/USD at 1.15 isn’t a major hurdle since appreciation is gradual and volatility is low, adding that markets clearly understood the ECB’s message after its recent decision: the ECB is very close to its target. The Japanese yen underperformed, while the Bank of Japan is in focus this morning. All 60 economists surveyed by Reuters expect the BoJ to keep rates steady at 0.50%, citing global trade concerns and geopolitical tensions as reasons for a likely pause.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
