- USDTHB: moving in the range 31.51-31.54 this morning, supportive level at 31.40 resistance level at 31.65
- SET Index: 1,273.4 (+1.53%), 15 Dec 2025
- S&P 500 Index: 6,816.5 (-0.16%), 15 Dec 2025
- Thai 10-year government bond yield (interpolated): 1.725 (-0.26 bps), 15 Dec 2025
- US 10-year treasury yield: 4.18 (-1.0 bps), 15 Dec 2025
- Williams says Fed policy in good position
- China’s November activity data undershoot expectations
- China’s home prices slide further in November
- Thailand to curb Baht’s strength as currency hits four-year high
- Thailand to hold election in February 2026
- USD slips marginally as markets lack clear drivers
Williams says Fed policy in good position
Fed’s Williams said the Fed’s baseline outlook is a “pretty good outcome,” with recent rate cuts helping balance both mandates, while inflation remains too high and the labour market is gradually cooling, implying a still-modestly restrictive stance; he added he supports last week’s cut, expects further cooling in jobs data, and said it is too early to judge January policy.
China’s November activity data undershoot expectations
China’s retail sales growth sank to its weakest level since the Covid shock, underscoring mounting economic risks after months of deterioration. Sales rose just 1.3% in November, below market expectations, while industrial output growth eased to 4.8%. Fixed-asset investment fell 2.6% in the first 11 months of the year, dragged down by a continued collapse in property investment.
China’s home prices slide further in November
China’s new-home prices extended their decline in November, signaling that a demand recovery remains elusive despite government efforts to stabilise the sector. Prices fell 0.4% month on month, while annual declines deepened to 2.4%. The secondary market stayed weak, with prices down 0.66% and year-on-year declines widening across all city tiers.
Thailand to curb Baht’s strength as currency hits four-year high
The Bank of Thailand has instructed banks to tighten checks on FX forward transactions by gold traders to limit baht volatility, requiring stronger documentation to ensure trades are tied to genuine gold exports, while also seeking feedback on proposed FX rule changes to enhance monitoring. In addition, the government plans to urge state-owned firms to speed up imports and repay foreign debts.
Thailand to hold election in February 2026
Thailand will hold a general election on Feb. 8, with surveys pointing to a fragmented mandate. Over 50 million voters will elect 500 lawmakers — 400 constituency and 100 party-list seats. Candidate registration runs Dec. 27–31, with party-list nominations due by Dec. 31.
USD slips marginally as markets lack clear drivers
The 10-year government bond yield (interpolated) on the previous trading day was 1.725, -0.26 bps. The benchmark government bond yield (LB353A) was 1.710, -0.64 bps. Meantime, the latest closed US 10-year bond yields was 4.18, -1.0 bps. USDTHB on the previous trading day closed around 31.49, moving in a range of 31.51 – 31.54 this morning. USDTHB could be closed between 31.40 – 31.65 today. The dollar dipped slightly in mixed trading, with limited headlines despite Fed comments and Ukraine–Russia updates, as focus shifts to Tuesday’s delayed US November payrolls and October NFP data. The euro edged up but remained near 1.1750, the British pound was flat ahead of UK jobs and earnings data, while the Japanese yen outperformed on expectations of a BoJ 25bp rate hike later this week.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
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