- USDTHB: moving in the range 31.63-31.66 this morning, supportive level at 31.60 resistance level at 31.80
- SET Index: 1,253.5 (-1.29%), 11 Dec 2025
- S&P 500 Index: 6,901.0 (+0.21%), 11 Dec 2025
- Thai 10-year government bond yield (interpolated): 1.709 (-0.16 bps), 11 Dec 2025
- US 10-year treasury yield: 4.14 (+1.0 bps), 11 Dec 2025
- US initial jobless claims rise, exceeding forecasted figures
- China signals limited stimulus in 2026 after easing trade pressures
- Philippines cuts rates, signals easing cycle nearing end
- Thailand set for early election as prime minister dissolves parliament
- Dollar extends its decline after the Fed’s rate cuts
US initial jobless claims rise, exceeding forecasted figures
Initial jobless claims rose to 236k from 192k, above the 220k forecast, with the sharp increase largely unwinding last week’s holiday-distorted drop. The rebound confirms that the prior decline was driven by Thanksgiving seasonal effects rather than a genuine improvement in labour-market conditions. Unadjusted claims jumped 115k to 313k, far exceeding the 57k rise implied by seasonals, while continued claims for the Thanksgiving week fell to 1.838mn from 1.937mn—well below expectations—again signalling reporting distortions. A snap-back in next week’s continued claims is likely, similar to what occurred in initial claims.
China signals limited stimulus in 2026 after easing trade pressures
China will continue supporting its economy in 2026 but will avoid large-scale stimulus, according to the Central Economic Work Conference. Authorities plan to “flexibly and efficiently” use interest rate and reserve requirement cuts to ensure liquidity, while maintaining a necessary budget deficit and government spending. Officials also pledged to tackle growth challenges, including reversing the investment slump, stabilizing the housing market, and addressing declining birth rates.
Philippines cuts rates, signals easing cycle nearing end
The Philippine central bank delivered its fifth straight rate cut, lowering the policy rate by 25bps to 4.5% and signaling it is close to ending its easing cycle as domestic demand gradually recovers from a graft scandal. The BSP noted that growth prospects have weakened further, with business sentiment still soft amid governance concerns and global trade uncertainty. It said any additional easing will be limited and data-dependent.
Thailand set for early election as prime minister dissolves parliament
Thai Prime Minister Anutin Charnvirakul has dissolved parliament, paving the way for an early election amid reports that a key party in his minority coalition was preparing to withdraw its support. The decision came after news that the People’s Party intended to file a no-confidence motion on Friday, following the failure of its push to secure a greater role for lawmakers in a planned constitutional overhaul. Under Thai law, elections must occur within 45–60 days of dissolution, meaning voters could head to the polls as soon as late January.
Dollar extends its decline after the Fed’s rate cuts
The 10-year government bond yield (interpolated) on the previous trading day was 1.709, -0.16 bps. The benchmark government bond yield (LB353A) was 1.691, -0.40 bps. Meantime, the latest closed US 10-year bond yields was 4.14, +1.0 bps. USDTHB on the previous trading day closed around 31.73, moving in a range of 31.63 – 31.66 this morning. USDTHB could be closed between 31.60 – 31.80 today. The dollar continued to soften after the Fed delivered a more decisive rate cut than expected, with additional pressure following weekly jobless claims that confirmed the prior drop was driven by Thanksgiving-related seasonal effects. The euro benefited from the weaker dollar, allowing EUR/USD to regain a firmer footing near the 1.1700 level. The Japanese yen strengthened, with USD/JPY briefly testing the 155.00 level on the downside amid softer US yields and rising expectations of a BoJ rate hike.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
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