- USDTHB: moving in the range 32.47 – 32.48 this morning, supportive level at 32.30 resistance level at 32.60
- SET Index: 1,539.12 (+1.44%), 14 May 2026
- S&P 500 Index: 7,501.24 (+0.77%), 14 May 2026
- Thai 10-year government bond yield (interpolated): 2.175 (-0.51 bps), 14 May 2026
- US 10-year treasury yield: 4.47 (+1.00 bps), 14 May 2026
- Trump–Xi summit opens constructively with Boeing deal, focus turns to trade and tech talks
- US data signals resilient demand and labour market strength despite firm inflation
- UK economy posts strong Q1, but Iran war casts shadow over outlook
- Dollar strengthens on data amid ongoing Trump–Xi summit
Trump–Xi summit opens constructively with Boeing deal, focus turns to trade and tech talks
The first day of the Trump–Xi summit in Beijing on 14 May was broadly constructive but yielded no comprehensive trade deal. Trump, accompanied by several major US CEOs, met Xi for 2.5 hours at the Great Hall of the People, where Xi called for a “constructive, strategic and stable” relationship and Trump said ties could become “stronger and better than ever.” The key outcome was China’s agreement to purchase around 200 Boeing aircraft and an invitation for Xi to visit the White House in September. On geopolitics, Trump said Xi backed efforts to help end the Iran conflict and support reopening the Strait of Hormuz, while Xi warned that mishandling Taiwan could risk “clashes” between the two powers. Focus now shifts to Day Two talks on a potential trade dispute mechanism, agricultural commitments, and technology access, including reports of US approval for Nvidia H200 chip sales to select Chinese firms.
US data signals resilient demand and labour market strength despite firm inflation
US retail sales rose 0.5% in April, matching expectations but slowing from March’s 1.7% gain, while core sales ex autos beat forecasts at 0.7%. Spending strength was driven by electronics, online retailers and gasoline sales, the latter reflecting higher fuel prices amid the US/Iran conflict, while furniture and clothing sales declined. The control group also rose a solid 0.5%, signalling resilient underlying consumer demand despite moderating momentum. In a separate report, initial jobless claims rose but still pointed to a stable-to-improving labour market, while a jump in import and export prices suggested energy costs are increasingly feeding through to broader inflation.
UK economy posts strong Q1, but Iran war casts shadow over outlook
The UK economy started the year on a stronger footing, with GDP rising 0.6% in Q1, up from 0.2% previously and marking the fastest pace in a year, in line with expectations and above the BoE’s forecast. Growth was driven by resilient private consumption (+0.6%) and business investment (+0.7%), with momentum boosted by a strong February before the Iran conflict and continued expansion of 0.3% in March, led by services despite expectations of a decline.
Dollar strengthens on data amid ongoing Trump–Xi summit
The 10-year government bond yield (interpolated) on the previous trading day was 2.175, -0.51 bps. The benchmark government bond yield (LB365A) was 2.17, -1.00 bps. Meantime, the latest closed US 10-year bond yields was 4.47, +1.0 bps. USDTHB on the previous trading day closed around 32.34, moving in a range of 32.47 – 32.48 this morning. USDTHB could be closed between 32.30 – 32.60 today. The dollar firmed against G10 peers after a constructive Trump–Xi summit boosted sentiment, though there were no major new developments on Iran despite reports Washington may be considering military escalation options. US data remained broadly supportive, with jobless claims still consistent with a resilient labour market, firmer trade prices signalling inflation pass-through, and retail sales details pointing to solid consumer spending momentum. The euro slipped below 1.1700 amid broad dollar strength and thin European newsflow, while the British pound underperformed despite stronger UK GDP data as political uncertainty around PM Starmer weighed on the pound. Meanwhile, the Japanese yen climbed back above 158.00 after an earlier sharp but brief drop fuelled speculation of possible intervention or a rate check.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
