- USDTHB: moving in the range 32.275-32.33 this morning supportive level at 32.20 resistance level at 32.40
- SET Index: 1,265.2 (+0.1%), 7 Aug 2025
- S&P 500 Index: 6,340.0 (-0.08%), 7 Aug 2025
- Thai 10-year government bond yield (interpolated): 1.450 (-1.68 bps), 7 Aug 2025
- US 10-year treasury yield: 4.23 (+1.0 bps), 7 Aug 2025
- Trump appoints Miran to temporary Fed board seat
- Initial jobless claims climb above expectations
- BoE cuts rates to two-year low after historic re-vote
- China exports jump despite US tariffs
- Dollar softens after Trump names Miran to Fed board
Trump appoints Miran to temporary Fed board seat
US President Trump has named CEA Chair Miran as the interim replacement for Fed Governor Kugler, whose seat opens this Friday and runs through January 31, 2026. Meanwhile, Fed Governor Waller has emerged as the Trump team’s top pick for the next Fed Chair, according to Bloomberg. Waller is reportedly in talks with the Trump campaign—not the President directly—and is favored for his alignment with the team’s push for interest rate cuts.
Initial jobless claims climb above expectations
Jobless claims rose to 226k from 219k, topping the 221k forecast and nearing the high end of estimates, though the four-week average dipped slightly to 220.75k. Unadjusted claims rose 1.2k to 195k, against expectations for a decline. Continued claims jumped to 1.974 million, above the 1.95 million consensus and the highest forecast. Unadjusted continued claims held steady at 2 million, despite seasonal expectations for a drop. Analysts noted the data remains consistent with a low pace of layoffs.
BoE cuts rates to two-year low after historic re-vote
The Bank of England cut the bank rate by 25bps to 4.00% in a narrow 5-4 vote, requiring two rounds of voting for the first time. It maintained a “careful and gradual” approach but dropped language suggesting policy must remain restrictive. MPC member Taylor initially backed a 50bps cut but shifted to 25bps to avoid a deadlock. Governor Bailey noted easing inflation pressures and stressed caution in cutting rates too quickly, while keeping the door open to adjust if inflation risks shift.
China exports jump despite US tariffs
China’s exports rose 7.2% in July—the fastest pace since April and above the expected 5.6%—despite high US tariffs. While shipments to the US fell 22%, stronger exports to the EU (+9.3%) and ASEAN (+17%) helped offset the decline. Imports grew 4.1%, resulting in a $98.2 billion trade surplus.
Dollar softens after Trump names Miran to Fed board
The 10-year government bond yield (interpolated) on the previous trading day was 1.450, -1.68 bps. The benchmark government bond yield (LB353A) was 1.445, -1.83 bps. Meantime, the latest closed US 10-year bond yields was 4.23, +1.0 bps. USDTHB on the previous trading day closed around 32.30, moving in a range of 32.275 – 32.33 this morning. USDTHB could be closed between 32.20 – 32.40 today. The dollar traded in both directions, initially strengthening on reports that Fed Governor Waller is the leading candidate for Fed Chair under Trump’s team. However, the dollar gave back some gains after President Trump named CEA Chair Miran as the interim replacement for Fed member Kugler until the end of January. US economic data was mixed, with higher jobless claims but stronger-than-expected labor costs. The euro ended the day flat, with no significant developments from the eurozone to drive movement. The British pound strengthened after a hawkish Bank of England rate cut, which passed with a narrow 5-4 vote and required two rounds of voting—an unusual procedure. The Japanese yen showed choppy trading, with USD/JPY dipping toward 147.00 where support roughly held.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
