- USDTHB: moving in the range 32.295-32.34 this morning supportive level at 32.25 resistance level at 32.45
- SET Index: 1,229.4 (+0.9%), 4 Aug 2025
- S&P 500 Index: 6,329.9 (+1.46%), 4 Aug 2025
- Thai 10-year government bond yield (interpolated): 1.490 (-1.57 bps), 4 Aug 2025
- US 10-year treasury yield: 4.22 (-1.0 bps), 4 Aug 2025
- Trump plans major India tariff hike over Russian oil
- Fed’s Daly: September cut uncertain, two rate cuts still likely
- Hassett calls BLS data unreliable
- Switzerland offers better trade deal to US
- BOJ eyes rate hike on growth, inflation rise
- Dollar index steady to start week following weak NFP data
Trump plans major India tariff hike over Russian oil
US President Trump announced plans to significantly increase tariffs on India, citing its large purchases of Russian oil and resale for substantial profits. Meanwhile, the EU is reportedly holding off on trade retaliation against the US for six months as it awaits Trump’s decisions on car tariffs and possible exemptions this week.
Fed’s Daly: September cut uncertain, two rate cuts still likely
Fed’s Daly said she supports the July decision but is cautious about repeating it, stressing the need to act on likely inflation trends rather than waiting for certainty. She noted uncertainty around a September cut, is open to waiting another cycle but not indefinitely, and said all meetings are now ‘live’ for policy changes. While fewer than two cuts are possible, she still sees two in 2025 as the likely path.
Hassett calls BLS data unreliable
US NEC Director Hassett criticized BLS data as unreliable, calling for new leadership at the agency. He suggested last week’s labor market revisions may have been a “typo” and stressed the need for clear explanations of major data changes.
Switzerland offers better trade deal to US
Switzerland said it aims to mend trade ties with the US following new 39% tariffs on its exports, likely linked to its goods surplus driven by gold sales. The government is not planning any retaliatory measures for now.
BOJ eyes rate hike on growth, inflation rise
The Bank of Japan’s June meeting minutes showed most members favored keeping rates unchanged for now due to uncertainty around U.S. trade tariffs. One member backed maintaining current rates indefinitely, citing concerns over slowing growth and inflation. However, the majority, including Governor Ueda, supported a future rate hike as growth and inflation are expected to improve over the medium term.
Dollar index steady to start week following weak NFP data
The 10-year government bond yield (interpolated) on the previous trading day was 1.490, -1.57 bps. The benchmark government bond yield (LB353A) was 1.490, -1.77 bps. Meantime, the latest closed US 10-year bond yields was 4.22, -1.0 bps. USDTHB on the previous trading day closed around 32.48, moving in a range of 32.295 – 32.34 this morning. USDTHB could be closed between 32.25 – 32.45 today. The dollar was steady, with the index just below 99.00 amid mixed G10 performance and ahead of President Trump’s announcement on new Fed and BLS appointments. Trump also criticized India’s oil imports from Russia and vowed steep tariff hikes. The euro traded choppily below 1.1600 as the EU delayed US trade retaliation and awaited Trump’s decision on car tariffs, while Germany called the deal positive but noted unresolved issues. The British pound was flat, failing to hold above 1.3300. The Japanese yen strengthened, with USD/JPY dipping toward 147.00 amid weaker US yields.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
