- USDTHB: moving in the range 32.33-32.35 this morning supportive level at 32.25 resistance level at 32.50
- SET Index: 1,264.5 (+1.4%), 6 Aug 2025
- S&P 500 Index: 6,345.1 (+0.73%), 6 Aug 2025
- Thai 10-year government bond yield (interpolated): 1.467 (-1.44 bps), 6 Aug 2025
- US 10-year treasury yield: 4.22 (+0.0 bps), 6 Aug 2025
- 100% for chips, 0% for US Investment
- Three Fed officials raise fresh alarms on softening labor market
- Thai CPI posts biggest decline in 17 months before central bank meeting
- Thailand’s economic forecast revised up following US tariff cut
- The dollar continues to show signs of weakness
100% for chips, 0% for US Investment
Donald Trump announced a 100% tariff on semiconductor imports, exempting companies that relocate production to the US, as he and Apple CEO Tim Cook revealed a $100 billion investment plan. While electronics such as smartphones and computers remain exempt for now, Trump indicated they may be targeted in a separate action. Additionally, a 25% tariff was imposed on Indian goods over ongoing purchases of Russian energy, taking effect in 21 days.
Three Fed officials raise fresh alarms on softening labor market
Federal Reserve officials, including Mary Daly, Lisa Cook, and Neel Kashkari, expressed concern over a weakening US labor market, signaling the possibility of a rate cut in September. Daly noted that rate adjustments may be needed in the “coming months” to prevent further declines in hiring. Kashkari expects two rate cuts by the end of 2025, while Daly sees two cuts as likely this year but did not rule out the need for more.
Thai CPI posts biggest decline in 17 months before central bank meeting
Thailand’s consumer inflation fell more than expected in July, marking the steepest drop since early 2024, as subdued energy prices and lower utility tariffs kept overall costs down. Headline CPI fell 0.7 percent year on year, compared with the expected 0.4 percent decline, marking a fourth consecutive month of deflation. On a monthly basis, prices dropped 0.27 percent, the first decline in three months. Core CPI rose 0.84 percent in July, slightly below the 0.9 percent forecast.
Thailand’s economic forecast revised up following US tariff cut
According to JSCCIB, Thailand’s economy is now projected to grow between 1.8% and 2.2% this year, an upward revision from the previous forecast of 1.5% to 2.0%. Exports, a key growth driver, are expected to increase by 2% to 3%, improving significantly from the earlier forecast of a 0.5% decline to a 0.3% rise. The improved outlook follows the US decision to lower tariff rates on imports from Thailand.
The dollar continues to show signs of weakness
The 10-year government bond yield (interpolated) on the previous trading day was 1.467, -1.44 bps. The benchmark government bond yield (LB353A) was 1.463, -0.96 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 – 32.35 this morning. USDTHB could be closed between 32.25 – 32.50 today. The dollar weakened even though the recent news had limited direct impact on its movement. Key developments centered around trade, geopolitics, and the Federal Reserve. The euro strengthened, supported by the weakening US dollar and a recovery in Eurozone retail sales data. The British pound found more stability around the 1.3300 level, though its gains were restrained ahead of a widely expected Bank of England rate cut on Thursday. The Japanese yen traded with volatility, but downside moves were limited by support near the 147.00 mark, as well as increasing yield differentials between the US and Japan.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
