- USDTHB: moving in the range 32.33-32.36 this morning supportive level at 32.20 resistance level at 32.50
- SET Index: 1,247.0 (+1.4%), 5 Aug 2025
- S&P 500 Index: 6,299.2 (-0.49%), 5 Aug 2025
- Thai 10-year government bond yield (interpolated): 1.481 (-0.84 bps), 5 Aug 2025
- US 10-year treasury yield: 4.22 (+0.0 bps), 5 Aug 2025
- Trump interview covered a wide range of topics
- ISM non-manufacturing PMI dips below forecast
- China services growth jumps to one-year high
- Indonesia posts strong 5.12% growth amid headwinds
- Dollar stayed below 100 on weak ISM Services data
Trump interview covered a wide range of topics
In a CNBC interview, President Trump addressed a range of topics, criticizing labor data as outdated and politically biased, calling payroll numbers “rigged.” He named Kevin Warsh, Kevin Hassett, and two others as contenders for Fed Chair, with a decision expected soon, and praised Scott Bessent as a potential Treasury Secretary. On energy, he claimed falling prices could pressure Putin to stop his aggression. Trump warned the EU of a 35% tariff if agreed U.S. investments aren’t made—dropping to 15% if they are. He said India will raise its 25% tariff within 24 hours due to Russian oil purchases. Tariffs on semiconductors and chips are expected next week, while pharma will face a small initial tariff, rising to 150–250% within a year. On China, Trump said he was “getting very close to a deal” with China to extend the trade truce.
ISM non-manufacturing PMI dips below forecast
The ISM Services Index fell to 50.1 in July, below expectations and June’s 50.8, signaling slower growth. Prices paid jumped to 69.9, the highest since October 2022, while most sub-indices weakened. Business activity and new orders declined, and employment remained in contraction. Export orders shrank, though supplier deliveries and backlogs rose slightly. Eleven industries grew, up from ten. ISM Chair Nieves said tariff concerns and rising commodity prices were key issues cited by respondents.
China services growth jumps to one-year high
China’s services sector grew at its fastest pace in over a year in July, with the Caixin PMI rising to 52.6 from 50.6, beating expectations. Strong travel demand and a stable trade environment drove export orders and hiring, while business confidence hit a four-month high and firms raised prices for the first time in six months.
Indonesia posts strong 5.12% growth amid headwinds
Indonesia’s Q2 GDP rose 5.12% YoY, the fastest in two years and above expectations, driven by exports and investment. While weak loan growth and falling manufacturing jobs raise concerns, some economists see support from government stimulus and monetary policy.
Dollar stayed below 100 on weak ISM Services data
The 10-year government bond yield (interpolated) on the previous trading day was 1.481, -0.84 bps. The benchmark government bond yield (LB353A) was 1.473, -1.37 bps. Meantime, the latest closed US 10-year bond yields was 4.22, +0.0 bps. USDTHB on the previous trading day closed around 32.37, moving in a range of 32.33 – 32.36 this morning. USDTHB could be closed between 32.20 – 32.50 today. The dollar saw modest gains, though upside was limited by early pressure from a weaker-than-expected ISM Services PMI. The key event was President Trump’s CNBC interview, where he touched on several topics. The euro ended flat despite underwhelming PMI figures from the Eurozone. The British pound edged higher after stronger-than-expected Services PMI data, though gains were restrained due to a lack of notable UK-specific developments. The Japanese yen weakened, with USD/JPY climbing above 147.00, driven by rising short-term US yields.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
