- USDTHB: moving in the range 32.55-32.625 this morning supportive level at 32.50 resistance level at 32.75
- SET Index: 1,123.0 (+0.3%), 7 July 2025
- S&P 500 Index: 6,230.0 (-0.8%), 7 July 2025
- Thai 10-year government bond yield (interpolated): 1.584 (-1.93 bps), 7 July 2025
- US 10-year treasury yield: 4.40 (+5.0 bps), 7 July 2025
- Trump announces new tariffs but leaves door open for talks
- Trump threatens 10% tariff on nations backing ‘Anti-American’ BRICS agenda
- Thailand inflation stays in negative territory in June
- The dollar rises as Trump unveils tariff letters
Trump announces new tariffs but leaves door open for talks
President Donald Trump released the first in a series of planned letters warning key trading partners of higher tariffs, while signaling a willingness to continue negotiations and delaying any increases until at least August 1. Under the proposed rates, Japan, South Korea, Malaysia, and Kazakhstan would face a 25% tariff on exports to the US, Indonesia could be hit with 32%, and Thailand and Cambodia may see rates rise to 36%. India’s status remains unclear, though it’s reportedly made a strong offer, while the EU is working quickly to secure a cap of 10%.
Trump threatens 10% tariff on nations backing ‘Anti-American’ BRICS agenda
President Donald Trump announced plans to impose an extra 10% tariff on countries that align with what he called “Anti-American policies of BRICS,” adding to global trade uncertainty amid ongoing US tariff negotiations. However, he did not clarify which policies fall under that label or when the proposed tariffs would take effect. According to a Reuters, the US is not expected to immediately impose a new 10% tariff on BRICS members in response to ‘anti-American’ policy moves.
Thailand inflation stays in negative territory in June
In June, Thailand’s headline inflation stayed in negative territory at -0.25% YoY, missing market expectations of -0.1% but marking an improvement from May’s -0.57%. On a monthly basis, inflation was nearly unchanged, recording a marginal uptick of +0.02%. The continued decline in prices was mainly driven by lower energy prices and reduced electricity tariffs. Cumulatively, headline inflation for the first half of the year registered a modest increase of +0.36% YoY. Meanwhile, core inflation held steady at +1.06% YoY and edged down slightly by -0.04% MoM, compared to +1.09% in May. Most spending categories showed minimal change from the previous month. The annual increase continued to be driven mainly by strong gains in prepared food prices, which climbed +3.4% YoY. However, certain components of core CPI have begun to decline compared to the same period last year. These developments suggest a broad-based softness in the domestic economy this year.
The dollar rises as Trump unveils tariff letters
The 10-year government bond yield (interpolated) on the previous trading day was 1.584, -1.93 bps. The benchmark government bond yield (LB353A) was 1.588, -2.51 bps. Meantime, the latest closed US 10-year bond yields was 4.40, +5.0 bps. USDTHB on the previous trading day closed around 32.56, moving in a range of 32.55 – 32.625 this morning. USDTHB could be closed between 32.50 – 32.75 today. The dollar gained strength as trade tensions took center stage, following President Trump’s letters. With little in the way of major US economic data this week, trade policy is expected to remain the key driver of market sentiment, particularly as the global response to Washington’s latest moves unfolds. The euro weakened amid broad USD strength, slipping below the 1.1700 level. Trade-related uncertainty weighed on the euro, even though the EU was reportedly not among the countries targeted by the US letters. The Japanese yen declined throughout the day as weak wage data and continued dollar strength pushed USD/JPY above 146.00.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
