- USDTHB: moving in the range 32.70 – 32.75 this morning, supportive level at 32.65 resistance level at 32.95
- SET Index: 1,493.69 (+0.13%), 30 Apr 2026
- S&P 500 Index: 7,200.75 (-0.41%), 4 May 2026
- Thai 10-year government bond yield (interpolated): 2.199 (+5.19 bps), 30 Apr 2026
- US 10-year treasury yield: 4.45 (+6.00 bps), 4 May 2026
- Geopolitical tensions escalate amid renewed strikes
- US data mixed as inflation pressures build and growth proves resilient
- ECB and BoE hold rates amid rising inflation risks
- Eurozone growth slows and below expectations
- Tokyo Inflation cools on childcare support, backing BOJ caution
- The dollar firms on safe-haven demand
Geopolitical tensions escalate amid renewed strikes
Renewed US–Iran clashes in the Persian Gulf saw US forces escort ships through the Strait of Hormuz under President Trump’s “Project Freedom,” while Iran responded with drones, missiles, and fast boats. US said several boats were shot down, and Trump warned of strong retaliation. The conflict also spread to the UAE, with strikes on Fujairah port and tanker causing fires and injuries.
US data mixed as inflation pressures build and growth proves resilient
Headline PCE rose 0.7% (3.5% y/y), in line with expectations and up from 0.4% and 2.8%, with the acceleration largely driven by higher energy costs following US–Iran tensions. Core PCE eased to 0.3% m/m but ticked up to 3.2% y/y, both matching forecasts. Elsewhere, income and spending data were mixed but broadly resilient, though consumption momentum showed signs of cooling.Q1 GDP grew 2.0%, slightly below expectations, as strong imports tied to AI investment weighed on net trade despite solid underlying demand. Meanwhile, the ISM Manufacturing PMI held steady at 52.7, slightly below expectations of 53.2. Prices paid jumped sharply to a four-year high of 84.6 from 78.3. Labour data remained tight with jobless claims dropping to multi-decade lows, while the employment cost index rose 0.9%.
ECB and BoE hold rates amid rising inflation risks
The European Central Bank holds rates at 2.0%, sticking to a data-dependent approach as Christine Lagarde flags rising short-term inflation risks but anchored long-term expectations amid growing uncertainty. The Bank of England also keeps rates at 3.75% (8–1), with Huw Pill dissenting for a hike, while Andrew Bailey signals a cautious hawkish tilt, citing inflation risks above 3.5% and uncertainty tied to Middle East tensions.
Eurozone growth slows and below expectations
The EU first-quarter GDP rose 0.1% from the previous three months — below the 0.2% forecast. Spain led the way again among the region’s top economies, expanding by 0.6%. Germany grew by 0.3%, while France unexpectedly stagnated.
Tokyo Inflation cools on childcare support, backing BOJ caution
Tokyo’s key inflation gauge slowed due to expanded subsidies for childcare, staying below the Bank of Japan’s target. The CPI excluding fresh food rose 1.5% in April, the smallest gain since March 2022, and was weaker than the forecast.
The dollar firms on safe-haven demand
The 10-year government bond yield (interpolated) on the previous trading day was 2.199, +5.19 bps. The benchmark government bond yield (LB365A) was 2.19, +3.00 bps. Meantime, the latest closed US 10-year bond yields was 4.45, +6.0 bps. USDTHB on the previous trading day closed around 32.77, moving in a range of 32.70 – 32.75 this morning. USDTHB could be closed between 32.65 – 32.95 today. The dollar firmed modestly against G10 currencies as geopolitical tensions, especially US–Iran risks, drove a risk-off tone. Nonetheless, the gains were uneven after Fed’s Williams reiterated that rate cuts are still expected over time and saw no need for rate hikes. Broadly, G10 currencies weakened against the dollar, with higher-beta currencies underperforming.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
