- USDTHB: moving in the range 31.59 – 31.70 this morning, supportive level at 31.55 resistance level at 31.95
- SET Index: 1,466.51 (-4.04%), 2 Mar 2026
- S&P 500 Index: 6,816.63 (-0.94%), 3 Mar 2026
- Thai 10-year government bond yield (interpolated): 1.723 (+1.65 bps), 2 Mar 2026
- US 10-year treasury yield: 4.06 (+1.0 bps), 3 Mar 2026
- Trump says US to provide insurance, military escorts in Strait of Hormuz
- US ISM manufacturing rises, input costs soar before Iran attack
- Eurozone inflation unexpectedly hits 1.9% in February
- NESDC warns Middle East conflict could cut Thailand’s 2026 growth to 1.3%
- Dollar firms as Middle East conflict escalates
Trump says US to provide insurance, military escorts in Strait of Hormuz
President Donald Trump said the US Development Finance Corporation will provide political risk insurance and guarantees for shipping through the Strait of Hormuz, with the Navy prepared to escort tankers. Posting on Truth Social, Trump pledged to safeguard global energy flows as the conflict with Iran disrupts the key oil route, where traffic has largely stalled, tankers have been damaged, and major shippers including Maersk have paused operations.
US ISM manufacturing rises, input costs soar before Iran attack
The headline ISM index rose to 52.4 in February, slightly below January’s 52.6 but above expectations for a drop to 51.8, and within the 50.0–53.2 forecast range. The increase was largely driven by a sharp jump in prices paid to 70.5 from 59—the highest since June 2022—while backlogs climbed five points to 56.6, employment edged up to 48.8, new orders slipped to 55.8, and production declined to 53.5.
Eurozone inflation unexpectedly hits 1.9% in February
Euro-area inflation unexpectedly accelerated, bolstering the ECB’s cautious rate stance as the Iran conflict lifts energy prices. Headline inflation rose 1.9% y/y in February, with core at 2.4% and services climbing to 3.4%. The upside surprise was driven largely by Italy, where inflation beat forecasts at 1.6%, likely reflecting Winter Olympics-related pressures, including a 6.1% surge in restaurant and accommodation costs.
NESDC warns Middle East conflict could cut Thailand’s 2026 growth to 1.3%
The NESDC outlines two scenarios for the Middle East conflict’s impact on Thailand’s 2026 GDP. If tensions remain contained and end within a month, oil prices could rise to USD 95–105 per barrel, trimming growth from 2% to 1.6%. If the conflict drags on and the Strait of Hormuz is closed, pushing oil to USD 115–125, GDP growth could slow further to 1.3%.
Dollar firms as Middle East conflict escalates
The 10-year government bond yield (interpolated) on the previous trading day was 1.723, +1.65 bps. The benchmark government bond yield (LB365A) was 1.74, +2.00 bps. Meantime, the latest closed US 10-year bond yields was 4.06, +1.0 bps. USDTHB on the previous trading day closed around 31.31, moving in a range of 31.59 – 31.70 this morning. USDTHB could be closed between 31.55 – 31.95 today. The dollar remained firm, supported by the escalating Middle East conflict, with reports that the UAE may consider military action against Iranian strikes and an Israeli official suggesting Saudi Arabia could soon attack Iran. US data was sparse, while Fed speakers reiterated that policy is well positioned and it is too early to assess the war’s inflation impact. The euro fell below 1.1600 despite stronger HICP data, the British pound weakened but recovered from sub-1.3300 lows as the UK Spring Statement had limited market impact despite OBR downgrades to 2026 growth and inflation, and the Japanese yen slipped versus the dollar but outperformed most G10 peers on safe-haven demand.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
