- USDTHB: moving in the range 32.41 – 32.44 this morning, supportive level at 32.30 resistance level at 32.55
- SET Index: 1,490.10 (-0.24%), 5 May 2026
- S&P 500 Index: 7,259.22 (+0.81%), 5 May 2026
- Thai 10-year government bond yield (interpolated): 2.242 (+4.28 bps), 5 May 2026
- US 10-year treasury yield: 4.43 (-2.00 bps), 5 May 2026
- US says ceasefire remains in place
- US data mixed, takes back seat to geopolitics
- RBA hikes interest rates by 25 bps as expected, warns on Middle East risks
- Thailand to raise $12bn in debt for relief and energy transition
- Dollar eases as US-Iran deal hopes grow
US says ceasefire remains in place
The US appears to be downplaying recent Iranian attacks, with General Caine stating they remain below the threshold that would trigger a resumption of major combat operations, helping to contain escalation fears. Separately, Hegseth reaffirmed that the ceasefire remains in effect, reinforcing the view that tensions, while elevated, are still being managed within a contained framework.
US data mixed, takes back seat to geopolitics
ISM Services PMI slips to 53.6 in April from 54.0, undershooting expectations. Employment improves but stays in contraction, while prices hold steady below forecasts. Business activity strengthens, offset by a sharp drop in new orders. US job openings edge down to 6.87M in March, in line with expectations, as the vacancy rate dips and quits tick higher—signalling a gradual cooling in labour demand. Meanwhile, the trade deficit widened more than forecast, and new home sales surprised to the upside.
RBA hikes interest rates by 25 bps as expected, warns on Middle East risks
The Reserve Bank of Australia raised its cash rate by 25 bps to 4.35% in an 8–1 decision, citing persistent inflation risks skewed to the upside. The Board expects inflation to remain above target for some time, supported by rising cost pressures, firm pricing behavior, and higher short-term inflation expectations. While policy is now better positioned after three hikes, future moves will depend on incoming data and evolving risks.
Thailand to raise $12bn in debt for relief and energy transition
Thailand plans to raise 400bn baht ($12bn) in new debt to support households, farmers, and SMEs affected by Middle East spillovers, while also funding its shift away from fossil fuels. The cabinet has approved an emergency decree to enable the borrowing, with funds split between cost-of-living relief, agricultural input support, and energy transition projects. Public debt is expected to rise to about 69% of GDP, still below the 70% cap, with the decree set to go to parliament next week.
Dollar eases as US-Iran deal hopes grow
The 10-year government bond yield (interpolated) on the previous trading day was 2.242, +4.28 bps. The benchmark government bond yield (LB365A) was 2.24, +5.00 bps. Meantime, the latest closed US 10-year bond yields was 4.43, -2.0 bps. USDTHB on the previous trading day closed around 32.75, moving in a range of 32.41 – 32.44 this morning. USDTHB could be closed between 32.30 – 32.55 today. The dollar softened against most G10 currencies as markets weighed mixed US data and Middle East developments, with officials downplaying Iranian attacks and maintaining that the ceasefire holds. US releases showed weaker ISM Services, lower JOLTS, a wider trade deficit, and stronger new home sales, but the dollar reaction was muted. The euro and pound edged higher on limited news, while ECB’s Villeroy noted rates could rise if second-round inflation appears, though not yet. The yen lagged, the only G10 loser versus the dollar, with USD/JPY swinging between 157.08–157.89 without a clear catalyst.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
