- USDTHB: moving in the range 32.11 – 32.14 this morning, supportive level at 32.00 resistance level at 32.30
- SET Index: 1,429.80 (+1.60%), 12 Mar 2026
- S&P 500 Index: 6,672.62 (-1.52%), 12 Mar 2026
- Thai 10-year government bond yield (interpolated): 1.974 (+3.95 bps), 12 Mar 2026
- US 10-year treasury yield: 4.27 (+6.0 bps), 12 Mar 2026
- Iran’s new supreme leader urges Hormuz to stay closed
- US begins section 301 investigation into global manufacturing capacity
- US treasury expands approval for Russian oil sales
- US initial jobless claims slightly lower than expected
- Dollar rallies to YTD high amid $100 oil and rising yields
Iran’s new supreme leader urges Hormuz to stay closed
Iranian Supreme Leader Mojtaba Khamenei said the closure of the Strait of Hormuz should continue as a means of pressuring enemies, while calling for the immediate shutdown of all US bases in the region and suggesting they should be targeted. He added that Iran would seek compensation from its adversaries or destroy their assets, while also stating that Tehran values friendly relations with neighbouring countries. Khamenei further warned that additional fronts could be opened if the war continues, noting that plans for such scenarios have already been studied. Meanwhile, reports suggest naval escorts through the strait may not begin until the end of the month.
US begins section 301 investigation into global manufacturing capacity
The Office of the United States Trade Representative will launch a probe into more than a dozen major economies under Section 301 of the Trade Act over alleged excess manufacturing capacity. The investigations will cover key US trading partners. The move marks the formal start of efforts by the administration of Donald Trump to rebuild its tariff framework after a US Supreme Court ruling against global duties, with plans for public hearings and potential corrective actions including tariffs.
US treasury expands approval for Russian oil sales
The US issued a second authorization allowing buyers to take Russian oil cargoes already at sea to help ease rising crude prices amid the Middle East conflict. Treasury Secretary Scott Bessent said the short-term measure applies only to oil loaded before March 12 and will not materially benefit Russia, expanding a prior waiver for India while purchases by Iran remain banned. Separately, the White House is considering waiving the Jones Act.
US initial jobless claims slightly lower than expected
Initial jobless claims were largely unchanged at 213k week-over-week (prev. 214k), slightly below the 215k forecast and within recent ranges, bringing the four-week average down to 212k from 215.75k. Continuing claims for the prior week came in at 1.85 million (prev. 1.868 million), in line with expectations.
Dollar rallies to YTD high amid $100 oil and rising yields
The 10-year government bond yield (interpolated) on the previous trading day was 1.974, +3.95 bps. The benchmark government bond yield (LB365A) was 1.98, +4.00 bps. Meantime, the latest closed US 10-year bond yields was 4.27, +6.0 bps. USDTHB on the previous trading day closed around 31.87, moving in a range of 32.11 – 32.14 this morning. USDTHB could be closed between 32.00 – 32.30 today. The dollar hit a fresh YTD high as Brent crude moved back above USD 100/bbl after Iran’s leader advocated keeping the Strait of Hormuz closed, while Treasury yields rose for a third straight session as Fed rate-cut expectations continued to unwind, with money markets no longer fully pricing a cut by year-end. The firmer dollar weighed on peers, with the euro slipping toward 1.1500 amid energy disruption concerns and light EU newsflow, the British pound falling below 1.3400 ahead of UK monthly GDP and output data, and the Japanese yen trading choppily around 159.00 but ultimately weakening as US yields and oil prices climbed.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
