- USDTHB: moving in the range 32.38-32.405 this morning supportive level at 32.25 resistance level at 32.60
- SET Index: 1,259.1 (-0.5%), 8 Aug 2025
- S&P 500 Index: 6,445.8 (+1.13%), 12 Aug 2025
- Thai 10-year government bond yield (interpolated): 1.456 (+0.60 bps), 12 Aug 2025
- US 10-year treasury yield: 4.29 (+2.0 bps), 12 Aug 2025
- US consumer prices rise by 2.7% in July
- Trump extends China tariff truce by 90 days
- UK loses fewer jobs than expected
- RBA cuts rates to over two-year low
- China CPI flat in July; PPI falls beyond forecasts
- The dollar slips after inflation report
US consumer prices rise by 2.7% in July
Headline CPI rose 0.2% in July, matching expectations and easing from June, while the annual rate held at 2.7%, slightly below forecasts. Core CPI rose 0.3% on the month and 3.1% year-over-year—hotter than expected and up from June. The data suggests inflation remains manageable, keeping a September rate cut on the table amid a cooling labor market. Economists noted slower gains in core goods prices excluding autos, though still above trend, largely driven by imports. Core services rose 0.4%, lifted by a rebound in airfare, but they sees no immediate concern. Still, the simultaneous rise in goods and services prices could challenge expectations of offsetting trends. As this data precedes August’s new tariffs, upcoming reports will better reflect their impact.
Trump extends China tariff truce by 90 days
President Trump extended the tariff pause on Chinese goods by another 90 days, pushing it into early November. Details of the order were not immediately available, and it remained unclear whether any specific terms were tied to the extension.
UK loses fewer jobs than expected
According to the ONS, employee numbers dropped by 8,353 in July — the smallest decline since January. Job losses in previous months were also revised lower. Meanwhile, the unemployment rate held steady at 4.7% in the three months to June, in line with expectations after rising to that level in May.
RBA cuts rates to over two-year low
The RBA cut the cash rate by 25bps to 3.60% as expected, with a unanimous decision. It reiterated that inflation is moderating, though the outlook remains uncertain, and emphasized its priority on price stability and full employment. The RBA expects underlying inflation to ease toward the 2–3% midpoint, with the cash rate on a gradual downward path.
China CPI flat in July; PPI falls beyond forecasts
CPI was unchanged year-on-year but rose 0.4% month-on-month, beating the 0.3% estimate. Meanwhile, PPI dropped 3.6%—matching June’s fall but exceeding the expected 3.3% decline—marking the 34th straight month of deflation.
The dollar slips after inflation report
The 10-year government bond yield (interpolated) on the previous trading day was 1.456, +0.60 bps. The benchmark government bond yield (LB353A) was 1.453, +0.78 bps. Meantime, the latest closed US 10-year bond yields was 4.29, +2.0 bps. USDTHB on the previous trading day closed around 32.33, moving in a range of 32.38 – 32.405 this morning. USDTHB could be closed between 32.25 – 32.60 today. The dollar weakened after an inflation report was seen as insufficiently strong to deter a potential September rate cut. The euro gained on dollar weakness but retreated from session highs near 1.1700. The British pound strengthened, buoyed by UK labor data showing a gradual easing in the job market. Meanwhile, the Japanese yen edged higher, with USD/JPY falling below 148.00 amid broader dollar softness and ahead of Japan’s PPI release.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
