- USDTHB: moving in the range 31.09-31.11 this morning, supportive level at 31.00 resistance level at 31.20
- SET Index: 1,271.1 (+0.11%), 23 Dec 2025
- S&P 500 Index: 6,909.8 (+0.46%), 23 Dec 2025
- Thai 10-year government bond yield (interpolated): 1.692 (-0.60 bps), 23 Dec 2025
- US 10-year treasury yield: 4.18 (+1.0 bps), 23 Dec 2025
- US economy outperforms expectations with 4.3% GDP growth
- US consumer confidence drops for fifth straight month
- US Industrial Production sees modest growth, outperforms forecasts
- October minutes show BOJ debated continuing rate hikes
- Thailand considers measures on massive gold trading amid baht surge
- Dollar softens ahead of Christmas break
US economy outperforms expectations with 4.3% GDP growth
The Q3 advance GDP report surprised to the upside, with growth accelerating to 4.3% from 3.8% in Q2, driven by stronger consumer spending, exports, and government outlays, partly offset by weaker investment. Imports fell, further lifting headline growth, while consumer spending rose 3.5%, up from 2.5% previously. On inflation, headline PCE rose to 2.8% and core PCE to 2.9%, both accelerating and in line with forecasts.
US consumer confidence drops for fifth straight month
US Consumer Confidence fell in December to 89.1 from 92.9, undershooting expectations, as the Present Situation index dropped sharply to 116.8 while Expectations held steady at 70.7. Consumers grew more pessimistic about current business conditions and the labour market, with fewer viewing jobs as plentiful and more seeing them as hard to get, while income prospects softened slightly despite a modest improvement in views on future business conditions.
US Industrial Production sees modest growth, outperforms forecasts
October and November Industrial Production showed modest gains, with November rising 0.2% (vs. 0.1% forecast) following October’s -0.1%. Manufacturing output was flat after a -0.4% drop in October, and capacity utilization edged up to 76% from 75.9%. While mining and utilities swung month to month, both sectors posted net gains.
October minutes show BOJ debated continuing rate hikes
According to BOJ October minutes, Bank of Japan policymakers debated whether to raise interest rates to neutral levels, with some arguing it could support long-term growth. A few board members noted that recent yen declines might push up import costs and overshoot inflation. The report also showed many members saw conditions favorable for a hike but wanted more clarity on whether companies would continue raising wages next year amid uncertainty over higher US tariffs.
Thailand considers measures on massive gold trading amid baht surge
Thailand’s finance ministry plans to study a tax on online gold trading and measures to limit trading volumes amid a baht surge. The revenue department would consider a specific business tax for online gold platforms, while the central bank would oversee large transactions and set maximum volumes for major traders.
Dollar softens ahead of Christmas break
The 10-year government bond yield (interpolated) on the previous trading day was 1.692, -0.60 bps. The benchmark government bond yield (LB353A) was 1.659, -1.58 bps. Meantime, the latest closed US 10-year bond yields was 4.18, +1.0 bps. USDTHB on the previous trading day closed around 31.14, moving in a range of 31.09 – 31.11 this morning. USDTHB could be closed between 31.00 – 31.20 today. The dollar softened on Tuesday ahead of the Christmas break as a heavy US data slate set the tone, while G10 currencies broadly strengthened, led by the Antipodeans amid continued firmness in metals prices. The Japanese yen remained in sharp focus following renewed jawboning from Finance Minister Katayama.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
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