- USDTHB: moving in the range 31.17 – 31.22 this morning, supportive level at 31.00 resistance level at 31.25
- SET Index: 1,410.44 (+0.68%), 10 Feb 2026
- S&P 500 Index: 6,941.8 (-0.33%), 10 Feb 2026
- Thai 10-year government bond yield (interpolated): 1.914 (+0.67 bps), 10 Feb 2026
- US 10-year treasury yield: 4.16 (-6.0 bps), 10 Feb 2026
- US retail sales unexpectedly unchanged in December
- US consumer delinquencies at the highest since 2017
- Hawkish Fed tone signals comfort with current rate levels
- Dollar flats ahead of delayed NFP
US retail sales unexpectedly unchanged in December
The December retail sales report disappointed, with the headline flat versus expectations for a 0.4% gain and cooling from November’s 0.6% increase. Ex-autos sales were also unchanged, missing the 0.3% forecast, while the control group—a key GDP input—fell 0.1%, well below expectations for a 0.4% rise. Strength was limited to building materials, sporting goods, and gasoline stations, offset by a 0.9% decline in miscellaneous and furniture stores, with most other categories flat.
US consumer delinquencies at the highest since 2017
The New York Fed’s quarterly report on household debt and credit showed delinquency rates rising to 4.8% of total US household debt in Q4, the highest since 2017. The uptick was driven by increased mortgage delinquencies—particularly in lower-income ZIP codes—and student loan defaults. Total household debt climbed 1% quarter over quarter to $18.8 trillion, while the share of credit card balances at least 90 days past due rose to 12.7%.
Hawkish Fed tone signals comfort with current rate levels
Hammack (2026 voter) said policy is near neutral and can remain on hold as inflation, still too high, moves toward 2%, warning it could linger around 3%, while describing the labor market as stable and expressing cautious optimism. Logan (2026 voter) also sees policy as close to neutral, saying further cuts may not be needed if inflation eases and jobs hold steady, though she remains concerned about sticky inflation, would cut if the labor market weakens materially, and flagged risks in the Treasury cash-futures basis trade during market stress.
Dollar flats ahead of delayed NFP
The 10-year government bond yield (interpolated) on the previous trading day was 1.914, +0.67 bps. The benchmark government bond yield (LB365A) was 1.91, -1.00 bps. Meantime, the latest closed US 10-year bond yields was 4.16, -6.0 bps. USDTHB on the previous trading day closed around 31.14, moving in a range of 31.17 – 31.22 this morning. USDTHB could be closed between 31.00 – 31.25 today. The dollar ended broadly unchanged after a choppy session, taking a breather from recent weakness as markets repositioned ahead of Wednesday’s delayed NFP report. Softer US data—most notably a flat December retail sales print versus expectations for a 0.4% gain and a modest decline in the Retail Control group—pushed yields lower and initially weighed on the USD, though losses were later pared as attention turned to the upcoming jobs data. The euro eased slightly, slipping back from the 1.1900 area amid a lack of fresh catalysts, with ECB Vice President de Guindos reiterating that current rates remain appropriate and that recent euro strength is consistent with ECB projections. The British pound retreated after failing to break above resistance just below 1.3700, with a quiet UK calendar until Thursday’s GDP release. The Japanese yen continued to strengthen following the election, supported by expectations of earlier BoJ policy normalization, although USD/JPY trading may be constrained by Wednesday’s Japanese holiday.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
