- USDTHB: moving in the range 32.585-32.615 this morning supportive level at 32.50 resistance level at 32.75
- SET Index: 1,113.6 (-0.1%), 17 June 2025
- S&P 500 Index: 5,982.7 (-0.84%), 17 June 2025
- Thai 10-year government bond yield (interpolated): 1.70 (-1.17 bps), 17 June 2025
- US 10-year treasury yield: 4.39 (-7.0 bps), 17 June 2025
- Trump assembles security team amid tensions with Iran
- US retail sales fall again amid tariff worries
- US industrial output falls again, marking second drop in three months
- BoJ maintains rates, signals slower cutback in bond buying
- Dollar strengthens as Middle East conflict intensifies
Trump assembles security team amid tensions with Iran
President Trump met with his national security team amid rising Middle East tensions, fueling speculation the US may join Israel against Iran. After speaking with Prime Minister Netanyahu, Trump demanded Iran’s "UNCONDITIONAL SURRENDER" on social media. The conflict’s escalation has pushed up oil prices and raised concerns about global economic impacts as the US considers its next move.
US retail sales fall again amid tariff worries
US retail sales fell 0.9% in May, marking the biggest decline this year as seven of 13 categories saw decreases. The drop is tied to growing consumer concerns about tariffs and personal finances after strong spending earlier in the year. Restaurant and bar sales saw their steepest decline since early 2023. Although control-group sales, which feed into GDP, rose 0.4%, economists view the report as underwhelming, with signs of caution and potential weakness in certain retail segments.
US industrial output falls again, marking second drop in three months
US industrial production fell 0.2% in May, missing forecasts for a 0.1% rise. Manufacturing output edged up 0.1%, driven by a 4.9% jump in motor vehicles and parts, but output excluding that category fell 0.3%. Utilities dropped 2.9%, while mining rose 0.1%. Capacity utilization slipped to 77.4%, below expectations.
BoJ maintains rates, signals slower cutback in bond buying
The BoJ kept its interest rate steady at 0.5% as expected in a unanimous decision. It also announced plans to reduce monthly JGB purchases by about JPY 200 billion each quarter starting April 2026, following reports. Until March 2026, JGB purchases will continue to taper by JPY 400 billion per month. From April 2026, the reduction will slow to JPY 200 billion quarterly, with total monthly purchases around JPY 2 trillion by early 2027. Additionally, the BoJ will reduce auction frequency for shorter-maturity JGBs from four to three times per month. Meanwhile, Japan’s economic assessment remains unchanged.
Dollar strengthens as Middle East conflict intensifies
The 10-year government bond yield (interpolated) on the previous trading day was 1.70, -1.17 bps. The benchmark government bond yield (LB353A) was 1.71, -1.27 bps. Meantime, the latest closed US 10-year bond yields was 4.39, -7.0 bps. USDTHB on the previous trading day closed around 32.51, moving in a range of 32.585 – 32.615 this morning. USDTHB could be closed between 32.50 – 32.75 today. The dollar strengthened broadly against other currencies on Tuesday, likely driven by a haven demand amid growing expectations of US involvement alongside Israel in the attack on Iran. All G10 currencies weakened, pressured by the flight to safety trade. This risk-averse mood favored the dollar and US Treasuries, while the Japanese yen held up relatively better. However, the yen gave way to USD gains, as the hawkish reaction to the BoJ’s decision to keep rates steady at 0.5% proved short-lived.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
