- USDTHB: moving in the range 32.57-32.635 this morning supportive level at 32.50 resistance level at 32.75
- SET Index: 1,115.7 (-0.7%), 8 July 2025
- S&P 500 Index: 6,225.5 (-0.1%), 8 July 2025
- Thai 10-year government bond yield (interpolated): 1.550 (-3.39 bps), 8 July 2025
- US 10-year treasury yield: 4.42 (+2.0 bps), 8 July 2025
- Trump firm on tariffs, eyes 50% levy on copper
- Trump urges Powell to resign if he misled congress
- RBA surprises market, holds rate at 3.85%
- Thailand hopes to cut US tariff through new trade proposal
- US dollar edges higher amid tariff updates
Trump firm on tariffs, eyes 50% levy on copper
US President Trump clarified that the August 1st date isn’t a policy change but a clarification, saying the US is setting a tariff rate that is “low and fair.” He added that BRICS countries will soon face a 10% tariff, claiming the group was established to harm the US Trump also said announcements are coming soon on pharmaceutical and semiconductor tariffs, and he expects the copper tariff to be set at 50%. Regarding pharmaceuticals, he stated companies will have about a year to comply, after which imports could face a steep tariff—potentially around 200%.
Trump urges Powell to resign if he misled congress
President Trump urged Fed Chair Jerome Powell to resign if allegations of misleading Congress over Fed building renovations are true. Calling Powell “terrible,” Trump accused him of “whining” about “non-existent inflation” and demanded, “CUT INTEREST RATES JEROME — NOW IS THE TIME!”.
RBA surprises market, holds rate at 3.85%
The RBA unexpectedly held the cash rate at 3.85% in a 6–3 vote, defying market expectations of a 25bps cut. The central bank said it would remain data-dependent, noting that while inflation is easing and the labour market remains strong, the outlook is still uncertain. The Board judged it prudent to wait for more data to confirm that inflation is sustainably heading toward the 2.5% target.
Thailand hopes to cut US tariff through new trade proposal
Finance Minister Pichai Chunhavajira said Thailand is hopeful it can secure a lower tariff than the 36% rate announced by President Donald Trump, citing its offer to eliminate import duties on most US goods. He noted that the US decision appeared to overlook Thailand’s updated proposal, which aimed to boost market access by removing both tariff and non-tariff barriers. Pichai described the offer as favorable for the US, with Thailand cutting tariffs on 90% of American products, and expressed surprise at Trump’s decision to keep the levy unchanged.
US dollar edges higher amid tariff updates
The 10-year government bond yield (interpolated) on the previous trading day was 1.550, -3.39 bps. The benchmark government bond yield (LB353A) was 1.549, -3.89 bps. Meantime, the latest closed US 10-year bond yields was 4.42, +2.0 bps. USDTHB on the previous trading day closed around 32.50, moving in a range of 32.57 – 32.635 this morning. USDTHB could be closed between 32.50 – 32.75 today. The dollar posted slight gains as trade news took center stage, with President Trump set to soon announce measures on pharmaceuticals and semiconductor tariffs and expecting the copper tariff to reach 50%. Meanwhile, US commerce Secretary Lutnick anticipates sending out another 15-20 trade letters within the next two days. The euro experienced mixed trading but ended the day slightly stronger, supported by optimistic remarks from Trump, who said the EU has been engaging positively with the US and is treating it well. He also mentioned that a letter from the US to the EU—signaling a deal—is likely within a couple of days. The Japanese underperformed other G10 currencies, weighed down by the recent 25% tariff announcement, which Japan’s PM Ishiba described as regrettable.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
