- USDTHB: moving in the range 32.56-32.595 this morning, supportive level at 32.45 resistance level at 32.65
- SET Index: 1,287.0 (-2.08%), 10 Oct 2025
- S&P 500 Index: 6,654.7 (+1.55%), 13 Oct 2025
- Thai 10-year government bond yield (interpolated): 1.535 (+3.05 bps), 10 Oct 2025
- US 10-year treasury yield: 4.05 (-9.0 bps), 10 Oct 2025
- Trump threatens 100% tariffs after China's export controls
- Michigan consumer sentiment index slightly dips
- Japan’s decades-old ruling coalition collapses
- China’s exports and imports beat forecasts in September
- Dollar recovers on hopes of eased US-China tension
Trump threatens 100% tariffs after China's export controls
On Friday, US President Trump announced a 100% tariff on Chinese goods starting November 1st, in addition to existing tariffs, along with new export controls on critical software from the same date. Despite tensions, Trump later clarified that a meeting with Chinese President Xi had not been canceled and could still take place. On Sunday, he posted that “it will all be fine,” calling Xi “highly respected” and stating that neither leader wants a depression, emphasizing that the US aims to help China, not harm it. Meanwhile, China’s Commerce Ministry defended its rare earth export controls as legal and not a ban, saying licenses will be granted if criteria are met. China urged the US to reverse its actions, warning of firm countermeasures, including new port fees on US-related vessels in response to similar US measures.
Michigan consumer sentiment index slightly dips
The preliminary October UoM Consumer Sentiment dipped slightly to 55.0 from 55.1, beating the 54.2 forecast. The current conditions index rose to 61.0, while expectations slipped to 51.2, just below the unchanged forecast. The report highlights persistent concerns over high prices and weakening job prospects, with little optimism for improvement. It also notes minimal impact from the ongoing government shutdown on consumer views. Inflation expectations eased slightly to 4.6% for one year ahead, with long-term expectations steady at 3.7%, both sitting between last year’s levels and this year’s spring highs.
Japan’s decades-old ruling coalition collapses
Sanae Takaichi’s bid to become Japan’s first female prime minister faced new uncertainty on Friday after junior coalition partner Komeito pulled its support. Komeito leader Tetsuo Saito ended their 26-year alliance, blaming the LDP’s failure to deal with a long-running political funding scandal, and said his party won’t support Takaichi in the upcoming vote.
China’s exports and imports beat forecasts in September
Chinese exports surged 8.3% in September to $328.6 billion — the fastest pace in six months and the highest monthly total of 2025 — far exceeding forecasts and signaling resilience amid trade tensions with the US. While shipments to the US dropped 27% for a sixth straight month of double-digit declines, strong growth to regions drove a 14.8% jump in non-US exports, the fastest since March 2023. Imports also beat expectations, rising 7.4%, pushing the trade surplus up nearly 11% year-over-year to $90.5 billion.
Dollar recovers on hopes of eased US-China tension
The 10-year government bond yield (interpolated) on the previous trading day was 1.535, +3.05 bps. The benchmark government bond yield (LB353A) was 1.509, +1.11 bps. Meantime, the latest closed US 10-year bond yields was 4.05, -9.0 bps. USDTHB on the previous trading day closed around 32.75, moving in a range of 32.56 – 32.595 this morning. USDTHB could be closed between 32.45 – 32.65 today. The dollar lost some of its haven appeal heading into the weekend after President Trump reignited trade tensions with China. Nonetheless, on Monday, the index regained some of the significant losses it suffered, supported in part by a softer tone from President Trump regarding China. This was reinforced by Treasury Secretary Bessent, who stated that 100% tariffs are not inevitable and confirmed that Trump is still expected to meet with Chinese President Xi in Korea.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
