- USDTHB: moving in the range 32.40-32.44 this morning supportive level at 32.35 resistance level at 32.55
- SET Index: 1,253.4 (+0.7%), 22 Aug 2025
- S&P 500 Index: 6,466.9 (+1.51%), 22 Aug 2025
- Thai 10-year government bond yield (interpolated): 1.349 (-1.21 bps), 22 Aug 2025
- US 10-year treasury yield: 4.26 (-7.0 bps), 22 Aug 2025
- Powell opens door to interest rate cut
- Trump says he’ll fire Fed’s Cook gf she doesn’t resign
- German GDP contracts more than expected in Q2
- Ueda expects tight labor market to keep upward pressure on wages
- The dollar weakens following Fed Chair Powell’s speech at Jackson Hole
Powell opens door to interest rate cut
Powell struck a dovish tone at Jackson Hole, hinting that shifting economic risks could warrant a policy adjustment—possibly as soon as September, even ahead of incoming data. He noted rising downside risks to the labor market and clearer signs of disinflation, expecting these trends to continue. While he views the inflationary impact of tariffs as likely temporary, he acknowledged a small chance of more lasting effects, though labor market weakness makes that unlikely. With labor supply aligning more closely with demand, Powell described the job market as in a “curious” balance. He emphasized that stable unemployment allows the Fed to move cautiously but signaled that pre-emptive action may still be needed to protect price stability.
Trump says he’ll fire Fed’s Cook gf she doesn’t resign
Donald Trump said he would fire Fed Governor Lisa Cook if she doesn’t resign over mortgage fraud allegations, escalating his criticism of the central bank for holding rates steady. Her removal would give Trump a chance to reshape the Fed and gain greater influence over US monetary policy.
German GDP contracts more than expected in Q2
Germany’s economic slump worsened in the second quarter, with GDP contracting 0.3% quarter-on-quarter — deeper than the earlier estimate of a 0.1% decline. The drop follows a 0.3% expansion in Q1, as weak investment, construction, and net exports dragged down growth. Consumption and inventories offered only limited support.
Ueda expects tight labor market to keep upward pressure on wages
Bank of Japan Governor Kazuo Ueda said a tight labor market is likely to keep pushing wages up, supporting the view that stable inflation is taking hold. He noted that wage growth is spreading beyond large firms to smaller ones, and unless demand weakens significantly, labor conditions should remain tight. While Ueda didn’t directly address monetary policy, his remarks may add to speculation of another rate hike this year.
The dollar weakens following Fed Chair Powell’s speech at Jackson Hole
The 10-year government bond yield (interpolated) on the previous trading day was 1.349, -1.21 bps. The benchmark government bond yield (LB353A) was 1.340, -1.92 bps. Meantime, the latest closed US 10-year bond yields was 4.26, -7.0 bps. USDTHB on the previous trading day closed around 32.66, moving in a range of 32.40 – 32.44 this morning. USDTHB could be closed between 32.35 – 32.55 today. The dollar saw sharp selling on Friday following unexpectedly dovish comments from Fed Chair Powell at Jackson Hole. While not fully committing, Powell suggested a rate cut in September could be possible due to a changing balance of risks. The index dropped to a low of 97.553 from an earlier high of 98.835. G10 currencies broadly strengthened, gaining primarily on the back of Powell’s remarks rather than any major currency-specific developments. The euro benefited from broader dollar weakness and reports that ECB officials remain committed to holding rates steady, bolstered by a recent US trade deal. Despite downward revisions to German Q2 GDP, the data had little impact on the currency. The Japanese yen strengthened as US yields declined, pushing USD/JPY down to 146.59 from a high of 148.77 earlier in the session.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
