- USDTHB: moving in the range 32.46-32.50 this morning supportive level at 32.40 resistance level at 32.55
- SET Index: 1,259.4 (-0.6%), 15 Aug 2025
- S&P 500 Index: 6,449.8 (-0.29%), 15 Aug 2025
- Thai 10-year government bond yield (interpolated): 1.360 (-1.35 bps), 15 Aug 2025
- US 10-year treasury yield: 4.33 (+4.0 bps), 15 Aug 2025
- Trump, Putin make progress, war deal still pending
- Retail sales rise broadly in July; June revised higher
- US industrial production falls in July
- China’s July slowdown raises pressure for more stimulus
- China home prices fall despite stimulus
- Dollar retreats after recent gains
Trump, Putin make progress, war deal still pending
Trump called his meeting with Putin “a 10,” noting progress on NATO, security, and land, though key issues remain and any deal depends on NATO and Ukraine. He said a Moscow meeting is possible and both sides want to end the violence. On Truth Social, he called it a successful day, citing positive talks with Zelensky and European leaders, all agreeing a full peace deal—not just a ceasefire—is the goal. Zelensky is set to visit the Oval Office Monday, with a Putin meeting to follow if talks go well.
Retail sales rise broadly in July; June revised higher
US retail sales rose 0.5% in July, matching forecasts but easing from June’s revised 0.9% gain. Core measures also slowed, while the retail control group—key for GDP—beat expectations at 0.5%. Economists noted the report suggests consumer spending remains stable, with modest volume growth and helpful upward revisions offsetting tariff concerns. Still, they warned consumption remains soft, and further tariff effects and labor market weakness may limit any strong rebound.
US industrial production falls in July
US industrial production slipped 0.1% in July, underperforming expectations for no change and reversing part of June’s 0.4% gain. Manufacturing output was flat—better than the anticipated decline—while capacity utilization eased to 77.5%.
China’s July slowdown raises pressure for more stimulus
China’s economic momentum weakened in July, with retail sales rising just 3.7%, missing expectations of 4.6%, as consumer spending remained sluggish despite government support measures. Industrial production grew 5.7% year-on-year, below the 6% forecast and down from 6.8% in June. Meanwhile, fixed asset investment—a gauge of capital spending—rose only 1.6%, well short of the expected 2.7%, pointing to broader softness across the economy.
China home prices fall despite stimulus
China’s new-home prices fell 0.31% in July, the sharpest drop in nine months, highlighting the limited impact of recent stimulus measures. Second-hand home prices declined 0.55%, slightly less than in June.
Dollar retreats after recent gains
The 10-year government bond yield (interpolated) on the previous trading day was 1.360, -1.35 bps. The benchmark government bond yield (LB353A) was 1.357, -1.00 bps. Meantime, the latest closed US 10-year bond yields was 4.33, +4.0 bps. USDTHB on the previous trading day closed around 32.43, moving in a range of 32.46 – 32.50 this morning. USDTHB could be closed between 32.40 – 32.55 today. The dollar weakened on Friday, giving back some of its earlier gains driven by the strong PPI data. Despite a wave of US economic releases, market reaction was muted as attention shifted to the upcoming Fed Chair Powell’s speech at Jackson Hole this week. G10 currencies broadly strengthened on Friday, benefiting from a weaker US dollar rather than any currency-specific developments.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
