- USDTHB: moving in the range 32.50 – 32.55 this morning, supportive level at 32.45 resistance level at 32.65
- SET Index: 1,550.33 (+0.76%), 25 May 2026
- S&P 500 Index: 7,473.47 (+0.37%), 22 May 2026
- Thai 10-year government bond yield (interpolated): 2.355 (-2.21 bps), 25 May 2026
- US 10-year treasury yield: 4.56 (-1.00 bps), 22 May 2026
- Trump says Iran talks ‘proceeding nicely’ as deal nears
- Japan to launch JPY 3 trillion stimulus, boost energy subsidies and expand clean power targets
- Singapore Q1 GDP growth revised up to 6%
- Thailand exports beat expectations, but record trade deficit widens on surging imports
- FX market mutes overnight amid holiday-thinned liquidity
Trump says Iran talks ‘proceeding nicely’ as deal nears
US President Donald Trump said any deal with Iran must be “strong and meaningful” or there will be no deal, stressing it would differ sharply from the JCPOA negotiated under the Obama Administration, while adding that talks with Tehran were progressing well and urging nations to join the Abraham Accords. Israeli media reported that US envoys Steve Witkoff and Jared Kushner will visit Israel to discuss a potential agreement, while reports from Nikkei, CBS, and Al Jazeera said draft terms under discussion include a 60-day ceasefire extension, reopening the Strait of Hormuz, ending regional military operations, mutual non-aggression commitments, and progress on Iran’s frozen assets, raising expectations for a possible agreement announcement this week.
Japan to launch JPY 3 trillion stimulus, boost energy subsidies and expand clean power targets
Japanese PM Sanae Takaichi said Japan will compile an extra budget exceeding JPY 3tln, including JPY 500bln in reserve funds for utility and gas subsidies from July to September, while stressing the package would not increase net bond issuance as higher tax revenues would offset new deficit-financing bonds. Takaichi also said Japan aims to raise the share of nuclear and renewable energy to 70%, with further energy-saving measures to be unveiled this week.
Singapore Q1 GDP growth revised up to 6%
Singapore’s economy grew faster than expected in initial Q1 estimates, with GDP expanding 6.0% year-on-year, beating forecasts of 4.6% and accelerating from 5.7% in the previous quarter. On a quarter-on-quarter seasonally adjusted basis, growth came in at 1.0%, slightly easing from 1.3% previously. The government maintained its 2026 growth forecast at 2.0%–4.0% but warned that downside risks have “risen significantly” amid escalating US-Iran tensions.
Thailand exports beat expectations, but record trade deficit widens on surging imports
Thailand’s exports rose for a 22nd consecutive month in April 2026, increasing 23.1% year-on-year to US$31.583 billion, supported by robust demand across key markets. Growth was led by strong industrial shipments such as electronics, automobiles, and electrical appliances, which expanded 27.5% overall. However, imports surged 45% on higher capital goods and raw material demand as well as elevated oil and gas prices, according to the Commerce Ministry. With imports outpacing exports for a seventh straight month, the trade deficit widened to about US$10 billion—its largest on record since 1991. Officials warn the imbalance could persist if energy costs remain high and AI-driven trade demand continues.
FX market mutes overnight amid holiday-thinned liquidity
The 10-year government bond yield (interpolated) on the previous trading day was 2.355, -2.21 bps. The benchmark government bond yield (LB365A) was 2.35, -3.00 bps. Meantime, the latest closed US 10-year bond yields was 4.56, -1.0 bps. USDTHB on the previous trading day closed around 32.46, moving in a range of 32.50 – 32.55 this morning. USDTHB could be closed between 32.45 – 32.65 today. The dollar holds near 99 overnight as holiday-thinned liquidity caps volatility and keeps trading range-bound on Monday amid light market activity.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
