- USDTHB: moving in the range 32.20-32.22 this morning, supportive level at 32.10 resistance level at 32.30
- SET Index: 1,252.7 (-0.67%), 27 Nov 2025
- S&P 500 Index: 6,812.6 (+0.69%), 26 Nov 2025
- Thai 10-year government bond yield (interpolated): 1.686 (+0.02 bps), 27 Nov 2025
- US 10-year treasury yield: 4.00 (-1.0 bps), 26 Nov 2025
- ECB minutes signal cautious pause as members await fresh data
- Euro zone economic sentiment edges up in November
- Tokyo inflation exceeds forecast, BOJ rate hike on track
- BOJ Dove avoids giving clear hint on timing of rate-hike move
- Dollar stays lacklustre as Thanksgiving holiday curbs activity
ECB minutes signal cautious pause as members await fresh data
The ECB minutes showed a unanimous decision, with all members agreeing that more information was needed before considering any rate adjustments. Most policymakers viewed inflation risks as broadly balanced and largely unchanged. Additionally, the majority saw value in waiting for the December projections, while a few preferred to remain open to further cuts should downside risks intensify. Conversely, some members argued that the easing cycle had concluded and supported maintaining a steady-hand approach.
Euro zone economic sentiment edges up in November
Euro zone economic sentiment edged higher in November, pointing to continued modest growth across the region. The European Commission’s Economic Sentiment Indicator rose to 97.0 from 96.8 in October, in line with expectations. This reading typically corresponds to quarterly GDP growth of around 0.2% for the bloc, excluding Ireland. The improvement was driven by the services sector, whose index climbed to 5.7 from 4.2, while the industry index weakened to –9.3 from –8.5.
Tokyo inflation exceeds forecast, BOJ rate hike on track
Tokyo’s inflation remained steady in November, keeping the Bank of Japan on track for a potential rate hike in the coming months. Consumer prices excluding fresh food rose 2.8% year-on-year, slightly above the median forecast of 2.7% and unchanged from October, as electricity costs accelerated while gains in processed food moderated. Core inflation, which also strips out energy, was unchanged at 2.8%, while service prices—a key gauge of sustained inflation—rose 1.5% year-on-year. Separately, industrial production in October increased 1.4% month-on-month, surpassing expectations of a 0.6% decline and rising 1.5% year-on-year. The jobless rate remained at 2.6%, while the jobs-to-applicant ratio edged down slightly to 1.18.
BOJ Dove avoids giving clear hint on timing of rate-hike move
Asahi Noguchi reinforced expectations of a near-term rate hike while stopping short of signaling a December move. He emphasized a gradual, step-by-step approach, raising rates incrementally while monitoring economic and price impacts. His comments are likely to prolong the debate over a December versus January hike, as Governor Kazuo Ueda prepares for a speech seen as one of the bank’s final opportunities to hint at action next month.
Dollar stays lacklustre as Thanksgiving holiday curbs activity
The 10-year government bond yield (interpolated) on the previous trading day was 1.686, +0.02 bps. The benchmark government bond yield (LB353A) was 1.650, -1.00 bps. Meantime, the latest closed US 10-year bond yields was 4.00, -1.0 bps. USDTHB on the previous trading day closed around 32.22, moving in a range of 32.20 – 32.22 this morning. USDTHB could be closed between 32.10 – 32.30 today. The dollar remained lacklustre amid thin trading during the Thanksgiving holiday, on track for its largest weekly decline in four months. The euro gained, breaking through the 1.1600 resistance as recent ECB commentary signaled reluctance to cut rates. The pound extended modestly after reclaiming the 1.3200 level following the UK Autumn Budget, while USD/JPY traded choppily around the 156.00 mark.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
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