- USDTHB: moving in the range 32.44-32.45 this morning supportive level at 32.40 resistance level at 32.60
- SET Index: 1,198.1 (+3.4%), 17 July 2025
- S&P 500 Index: 6,297.4 (+0.5%), 17 July 2025
- Thai 10-year government bond yield (interpolated): 1.544 (+1.30 bps), 17 July 2025
- US 10-year treasury yield: 4.47 (+1.0 bps), 17 July 2025
- US retail sales surge broadly, exceeding estimates
- Trump considering 10%–15% tariffs on over 150 nations
- Japan’s core inflation slows but stays above BOJ target
- Thailand proposes zero tariffs on 90% of US imports
- US dollar rises on strong data
US retail sales surge broadly, exceeding estimates
US retail sales bounced back in June, easing concerns about a slowdown in consumer spending. The data rose 0.6 percent, beating most forecasts after two consecutive monthly declines. Excluding autos, retail sales were up 0.5 percent. Gains were seen in 10 of 13 categories, with a surprising boost from motor vehicle sales following previous declines. The control group, which feeds into GDP calculations, also rose 0.5 percent, signaling a strong finish to the first half of the year.
Trump considering 10%–15% tariffs on over 150 nations
US President Trump said a tariff deal with India is nearly finalized and a possible agreement with Europe may follow. However, he noted it’s too early to comment on Canada and indicated he might impose 10% to 15% tariffs on smaller countries.
Japan’s core inflation slows but stays above BOJ target
Japan’s key inflation measure eased more than expected in June but remained above the Bank of Japan’s target, keeping pressure on Prime Minister Shigeru Ishiba ahead of Sunday’s election. Core CPI ,excluding fresh food, rose 3.3% from a year earlier, down from May’s two-year high of 3.7%. Meanwhile, headline inflation eased to 3.3% in June from 3.5%, largely due to falling fuel and gas prices in line with lower global oil price. Core CPI, which excludes both fresh food and energy, edged up to 3.4% from 3.3%, signaling persistent underlying inflation closely monitored by the BOJ. While energy costs softened, food prices surged 7.2%, driven by a sharp rise in rice prices amid a recent shortage.
Thailand proposes zero tariffs on 90% of US imports
Thailand plans to eliminate tariffs on 90 percent of US goods, an increase from the previous offer of just over 60 percent, as part of an effort to avoid steep tariffs threatened by President Donald Trump. A business group advising Thai negotiators stated that the third proposal would remove tariffs and non-tariff barriers on approximately 10,000 American products. Chanintr Chalisarapong, vice chairman of the Thai Chamber of Commerce, said he expects the final US tariff on Thai goods to be set between 18 and 20 percent. He also noted that the proposal could reduce Thailand’s trade surplus with the United States by 70 percent within three years.
US dollar rises on strong data
The 10-year government bond yield (interpolated) on the previous trading day was 1.544, +1.30 bps. The benchmark government bond yield (LB353A) was 1.542, +1.78 bps. Meantime, the latest closed US 10-year bond yields was 4.47, +1.0 bps. USDTHB on the previous trading day closed around 32.50, moving in a range of 32.44 – 32.45 this morning. USDTHB could be closed between 32.40 – 32.60 today. The dollar rebounded from the previous day’s losses, which were driven by speculation that President Trump might fire Fed Chair Powell. The recovery was further supported by upbeat US economic data, including stronger-than-expected retail sales and the Philadelphia Fed business index, as well as a drop in initial jobless claims. The euro weakened against the dollar, falling below the 1.1600 level, amid ongoing trade uncertainty. The British pound was little changed, reflecting a muted response to mixed UK employment and unemployment data. The Japanese yen continued its recent weakening trend, although USD/JPY retreated from the day’s highs after briefly climbing above the 149.00 mark.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
