- USDTHB: moving in the range 31.89-31.91 this morning, supportive level at 31.80 resistance level at 32.00
- SET Index: 1,261.4 (-0.98%), 8 Dec 2025
- S&P 500 Index: 6,846.5 (-0.35%), 8 Dec 2025
- Thai 10-year government bond yield (interpolated): 1.692 (+1.24 bps), 8 Dec 2025
- US 10-year treasury yield: 4.17 (+3.0 bps), 8 Dec 2025
- NY Fed survey shows stable inflation expectations
- ECB’s Schnabel signals next rate move may be a hike, not a cut
- German industrial production rises, boosting rebound hopes
- China November trade surplus tops forecast on export surge
- China Politburo focuses on strengthening domestic demand in 2026
- Dollar edges up amid anticipation of FOMC decision
NY Fed survey shows stable inflation expectations
The NY Fed’s November Survey of Consumer Expectations showed 1-, 3-, and 5-year inflation expectations unchanged at 3.2%, 3%, and 3%. Households’ views of their current and year-ahead finances weakened slightly, while unemployment expectations improved modestly, falling 0.4ppt to 42.1%. Perceived credit access worsened both compared with a year ago and for the year ahead, with fewer respondents expecting easier borrowing conditions.
ECB’s Schnabel signals next rate move may be a hike, not a cut
ECB’s Schnabel said the euro area economy is on track to grow above potential despite existing headwinds and noted that interest rates are currently well positioned. She added that she is comfortable with expectations that the next policy move could be a rate hike, while emphasizing that the prospect of a first hike in June 2026 remains highly uncertain.
German industrial production rises, boosting rebound hopes
German industrial production surged 1.8% in October, well above the 0.3% forecast, boosting expectations for Q4 2025 economic growth. Gains were led by construction, machinery, and electronics, while car production declined.
China November trade surplus tops forecast on export surge
November exports rose 5.9% year-on-year, outpacing a 1.9% increase in imports, with electronics and machinery shipments jumping nearly 10% after October’s modest gain. The $112 billion trade surplus—the third-largest on record—was driven by strong demand from the EU and Africa, offsetting the US decline and stoking concerns of a global market glut.
China Politburo focuses on strengthening domestic demand in 2026
China’s top leaders have made bolstering the domestic market their top economic priority for 2026 to shield against global trade risks. They pledged a “more proactive” fiscal policy and a “moderately loose” monetary stance to ensure a strong start to the next five-year plan, while risk prevention in key areas was downgraded on the list of priorities, signaling a greater focus on growth.
Dollar edges up amid anticipation of FOMC decision
The 10-year government bond yield (interpolated) on the previous trading day was 1.692, +1.24 bps. The benchmark government bond yield (LB353A) was 1.684, +1.13 bps. Meantime, the latest closed US 10-year bond yields was 4.17, +3.0 bps. USDTHB on the previous trading day closed around 31.85, moving in a range of 31.89 – 31.91 this morning. USDTHB could be closed between 31.80 – 32.00 today. The dollar edged slightly higher on Monday in a quiet session as markets awaited Wednesday’s FOMC meeting, where a 25bp cut is widely expected, while the latest NY Fed SCE showed 1-, 3-, and 5-year inflation expectations unchanged at 3.2%, 3%, and 3%. The euro was flat, recovering early losses after ECB’s Schnabel struck a hawkish tone, saying she is comfortable with expectations for the next move to be a rate hike and that a first hike in June 2026 is highly uncertain. The British pound was little changed amid scarce catalysts and unimpactful comments from BoE’s Taylor, while the Japanese yen weakened following a 7.6-magnitude earthquake in Japan, which initially prompted a tsunami warning later reduced to an advisory.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
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