- USDTHB: moving in the range 31.54-31.55 this morning, supportive level at 31.50 resistance level at 31.70
- SET Index: 1,254.1 (+0.04%), 12 Dec 2025
- S&P 500 Index: 6,827.4 (-1.07%), 12 Dec 2025
- Thai 10-year government bond yield (interpolated): 1.727 (+1.82 bps), 12 Dec 2025
- US 10-year treasury yield: 4.19 (+5.0 bps), 12 Dec 2025
- Trump says he is leaning toward Warsh or Hassett to lead the Fed
- Fed officials show diverging views on 2026 economic risks
- UK GDP unexpectedly contracts in October
- Thai PM says no Cambodian ceasefire
- Dollar takes breather after Fed
Trump says he is leaning toward Warsh or Hassett to lead the Fed
President Trump said he is leaning toward Kevin Warsh or Kevin Hassett as the next Fed chair and argued the role should consult with him on interest rates, adding that rates should be 1% or lower within a year. Separately, White House adviser Hassett said he would take the president’s views into account but stressed the Fed would remain independent if he were appointed.
Fed officials show diverging views on 2026 economic risks
Federal Reserve officials offered sharply differing views on interest rates, extending the debate into the new year. Schmid and Goolsbee pointed to elevated inflation as the reason for their dissent, Hammack maintained a hawkish stance, while Paulson struck a more dovish tone.
UK GDP unexpectedly contracts in October
The UK economy contracted again in October, reinforcing concerns that Chancellor Rachel Reeves’ budget has weighed on momentum. GDP fell 0.1% for a second consecutive month, missing expectations for 0.1% growth. The services sector declined 0.3% and construction fell 0.6%, partly offset by a 1.1% rebound in industrial production.
Thai PM says no Cambodian ceasefire
US President Trump said he reached an agreement with the Thai and Cambodian prime ministers to halt fighting and return to the original peace accord, but Thailand’s PM later said no ceasefire had been agreed and fighting would continue along the disputed border.
Dollar takes breather after Fed
The 10-year government bond yield (interpolated) on the previous trading day was 1.727, +1.82 bps. The benchmark government bond yield (LB353A) was 1.717, +2.53 bps. Meantime, the latest closed US 10-year bond yields was 4.19, +5.0 bps. USDTHB on the previous trading day closed around 31.65, moving in a range of 31.54 – 31.55 this morning. USDTHB could be closed between 31.50 – 31.70 today. The dollar steadied on Friday as higher US yields offered support, though the index still fell for a third consecutive week to around 98.37 amid heavy Fed commentary. Dissenting Fed officials Schmid and Goolsbee favored holding rates steady due to elevated inflation, with Goolsbee arguing that delaying cuts until Q1 would help confirm disinflation while remaining optimistic about meaningful easing next year. The euro and Canadian dollar were flat versus the dollar, while the British pound and Japanese yen weakened modestly; sterling slid after weaker UK GDP and services data, with cable near 1.3370. Ahead of the BoJ meeting, where a 25bp hike is expected, reports that the tightening cycle may extend beyond 0.75% drove choppy USD/JPY trade, with the pair slightly lower around 155.80 as markets price further hikes into 2026.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
