- USDTHB: moving in the range 32.765-32.815 this morning, supportive level at 32.65 resistance level at 32.85
- SET Index: 1,314.0 (+0.69%), 9 Oct 2025
- S&P 500 Index: 6,735.1 (-0.28%), 9 Oct 2025
- Thai 10-year government bond yield (interpolated): 1.504 (+5.69 bps), 9 Oct 2025
- US 10-year treasury yield: 4.14 (+1.0 bps), 9 Oct 2025
- Fed’s Williams sees rate cuts ahead, Barr calls for caution
- BLS bringing back staff to get inflation report out
- ECB officials reject rate cut amid inflation risks
- Thailand to finalize US trade rules by year-end
- Philippine central bank delivers surprise rate cut amid growth concerns
- Dollar strengthens, reclaims haven status
Fed’s Williams sees rate cuts ahead, Barr calls for caution
NY Fed’s Williams backs further cuts, calling policy “modestly restrictive” and the latest move a risk-management step. He sees the neutral rate below 1%, notes gradual labour market cooling, and says underlying inflation is easing toward 2%, though tariffs added 25–50bps. He doesn’t see a US recession on the horizon. Fed’s Barr struck a cautious tone on further easing, citing dual-mandate uncertainty. While backing the September cut as appropriate, he still views policy as modestly restrictive. Barr downplayed the inflationary impact of tariffs but warned the Fed can’t fully ignore tariff-driven effects, noting a longer adjustment phase ahead.
BLS bringing back staff to get inflation report out
The US Bureau of Labor Statistics is recalling some furloughed staff to ensure the key inflation report is released despite the broader government shutdown, according to the New York Times and Bloomberg. While the exact release date for the CPI—originally due October 15—is still uncertain, it’s expected to be published in time for the Fed’s policy meeting on October 28–29.
ECB officials reject rate cut amid inflation risks
According to the ECB Minutes, officials debated a rate cut in September but held off due to upside inflation risks and economic uncertainties. They chose to stay flexible amid geopolitical and tariff concerns, with most showing little interest in further easing after eight cuts through June, as inflation nears the 2% target and the economy remains resilient.
Thailand to finalize US trade rules by year-end
According to Commerce Minister Suphajee Suthumpun, Thailand is in talks with the US on trade rules covering rules of origin and regional value content, aiming to finalise the deal by year-end. She also noted that free trade agreement negotiations with Europe are expected to conclude by late 2025 or early 2026.
Philippine central bank delivers surprise rate cut amid growth concerns
The Philippine central bank unexpectedly cut interest rates by 25 basis points on Thursday, saying the economic outlook has worsened as public protests over alleged government corruption hurt confidence. The BSP lowered its key rate to 4.75% and the lending rate to 5.25%.
Dollar strengthens, reclaims haven status
The 10-year government bond yield (interpolated) on the previous trading day was 1.504, +5.69 bps. The benchmark government bond yield (LB353A) was 1.498, +5.65 bps. Meantime, the latest closed US 10-year bond yields was 4.14, +1.0 bps. USDTHB on the previous trading day closed around 32.60, moving in a range of 32.765 – 32.815 this morning. USDTHB could be closed between 32.65 – 32.85 today. The dollar continued to strengthen, reclaiming its safe-haven status amid a crowded gold trade, weak CHF fundamentals, and political uncertainty in Japan, with limited economic data putting focus on Fed commentary. The euro weakened below 1.1600 amid dollar strength, with uneventful ECB Minutes reinforcing no urgency to alter rates. Meanwhile, the Japanese yen softened against the dollar but losses were limited after political remarks aimed at preventing excessive yen depreciation.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
