- USDTHB: moving in the range 32.25 – 32.27 this morning, supportive level at 32.10 resistance level at 32.40
- SET Index: 1,479.74 (-0.25%), 22 Apr 2026
- S&P 500 Index: 7,137.90 (+1.05%), 22 Apr 2026
- Thai 10-year government bond yield (interpolated): 2.111 (+0.79 bps), 22 Apr 2026
- US 10-year treasury yield: 4.30 (+0.00 bps), 22 Apr 2026
- Geopolitical headlines remain mixed
- UK inflation rises to 3.3% as Iran war impact begins to hit
- South Korea Q1 GDP rebounds 1.7% on AI export surge, beats forecasts
- Bank Indonesia holds key rate, vows further FX intervention
- Thailand keeps deficit target, reshuffles spending to cushion oil shock
- Dollar firms amid Middle East tensions
Geopolitical headlines remain mixed
Geopolitical news flow remained mixed, with reports pointing to a possible resumption of US–Iran talks as early as Friday, though Iranian media cast doubt on this and uncertainty lingered over the ceasefire’s duration and credibility. Ongoing disruptions in the region—including Iran seizing and firing on ships despite the extension—kept a geopolitical risk premium firmly in energy markets.
UK inflation rises to 3.3% as Iran war impact begins to hit
UK inflation rises to 3.3% in March, in line with expectations, as higher energy costs and food prices drive the increase. The uptick was largely fueled by an 8.7% rise in motor fuel prices, while food inflation also accelerated to 3.5% from 3.2%, adding pressure to household budgets. Services inflation unexpectedly edged up to 4.5% from 4.3%, driven in part by volatile airfares, reinforcing underlying price pressures in the economy.
South Korea Q1 GDP rebounds 1.7% on AI export surge, beats forecasts
South Korea’s economy rebounded strongly in Q1 2026, with GDP rising 1.7% QoQ as AI-driven export demand boosted growth. The reading reversed a Q4 contraction, marked the fastest expansion since Q3 2020, and beat the 0.9% consensus estimate.
Bank Indonesia holds key rate, vows further FX intervention
Bank Indonesia holds rates at 4.75% for seventh straight meeting, signals readiness to support rupiah amid Middle East risks.
Thailand keeps deficit target, reshuffles spending to cushion oil shock
Thailand is reshuffling spending to offset an oil shock from Middle East tensions while keeping its fiscal deficit target unchanged. The government plans a 788 billion baht deficit for fiscal 2027, down from an estimated 860 billion this year, relying on spending cuts and reallocations within a 3.79 trillion baht budget while preserving borrowing headroom under its debt ceiling. Officials aim to free up 95–125 billion baht by trimming non-essential spending and reclaiming unused funds, with a budget transfer bill due by mid-June. Authorities also ruled out raising the debt ceiling this year, while a consumption stimulus is expected to start in June; a VAT hike remains under review for 2028.
Dollar firms amid Middle East tensions
The 10-year government bond yield (interpolated) on the previous trading day was 2.111, +0.79 bps. The benchmark government bond yield (LB365A) was 2.12, +2.00 bps. Meantime, the latest closed US 10-year bond yields was 4.30, +0.0 bps. USDTHB on the previous trading day closed around 32.16, moving in a range of 32.25 – 32.27 this morning. USDTHB could be closed between 32.10 – 32.40 today. The dollar strengthened as Middle East tensions dominated trading, with early optimism—after reports Iran saw signs the US might ease its blockade—quickly reversing when Iran seized two vessels in the Strait of Hormuz and ruled out near-term negotiations, despite Trump suggesting talks were “possible.” Meanwhile, a lack of major data and the Fed blackout left markets without further direction. The euro weakened on soft EU confidence and a lower German growth outlook, the British pound was broadly flat despite softer core inflation, while the Japanese yen traded sideways above 159.00.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
