- USDTHB: moving in the range 32.475-32.485 this morning, supportive level at 32.40 resistance level at 32.60
- SET Index: 1,280.1 (+0.85%), 17 Nov 2025
- S&P 500 Index: 6,672.4 (-0.92%), 17 Nov 2025
- Thai 10-year government bond yield (interpolated): 1.748 (-2.79 bps), 17 Nov 2025
- US 10-year treasury yield: 4.13 (-1.0 bps), 17 Nov 2025
- Fed’s Waller supports another rate cut amid slowing job market
- NY Empire State manufacturing index jumps past forecasts
- Japan’s Takaichi to meet BOJ’s Ueda Tuesday
- Thai economic growth slowed sharply in the third quarter
- Dollar edges up in thin trade ahead of US data
Fed’s Waller supports another rate cut amid slowing job market
Fed Governor Waller reinforced the case for continued easing, endorsing a 25bps cut in December to insure against a weakening labour market and the drag from restrictive policy. He said underlying inflation is near 2%, expectations are well anchored, tariffs are a one-off shock, and no signs suggest inflation will re-accelerate, while softer H2 GDP, weakening demand, and affordability pressures argue that no upcoming data is likely to change his view.
NY Empire State manufacturing index jumps past forecasts
The November Empire State Manufacturing survey delivered a solid report, with activity strengthening, employment staying in expansionary territory, and price pressures easing. Current business conditions jumped to 18.7 from 10.7, far above expectations, supported by strong gains in new orders and shipments. Supply conditions tightened slightly, inventories grew, and labour metrics improved, with the employment index edging up to 6.6. Both input and selling price increases slowed—prices paid easing to 49 and prices received to 24—though they remained elevated.
Japan’s Takaichi to meet BOJ’s Ueda Tuesday
Japanese Prime Minister Sanae Takaichi will meet Bank of Japan Governor Kazuo Ueda on Tuesday as she considers support measures for an economy that shrank over the summer. The talks follow data showing a Q3 contraction driven by tariff-related export weakness and a drop in property purchases. Markets will watch whether Takaichi—long a proponent of monetary easing—might soften her cautious stance on potential BOJ rate hikes amid continued yen weakness.
Thai economic growth slowed sharply in the third quarter
The Thai economy grew 1.2% year-on-year in Q3, slowing from 2.8% in Q2 and falling short of the 1.6% forecast, driven by weaker exports and slower gross fixed capital formation, while government spending declined. Private consumption continued to rise. For the first nine months of 2025, GDP expanded 2.4%. The NESDC maintained its GDP growth forecasts at 2% for 2025 and 1.7% for 2026 (range 1.2–2.2%).
Dollar edges up in thin trade ahead of US data
The 10-year government bond yield (interpolated) on the previous trading day was 1.748, -2.79 bps. The benchmark government bond yield (LB353A) was 1.719, -3.06 bps. Meantime, the latest closed US 10-year bond yields was 4.13, -1.0 bps. USDTHB on the previous trading day closed around 32.43, moving in a range of 32.475 – 32.485 this morning. USDTHB could be closed between 32.40 – 32.60 today. The dollar was firmer in a day of thin trading as markets awaited delayed US data and NVIDIA’s earnings later in the week. Monday’s NY Fed Manufacturing survey surprised to the upside. Meanwhile, G10 currencies posted mild losses largely driven by broad dollar strength rather than any meaningful currency-specific news. The Japanese yen was largely unmoved by Japan’s Q3 GDP slipping into negative territory for the first time in six quarters, albeit by less than expected.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
