- USDTHB: moving in the range 32.56 – 32.595 this morning, supportive level at 32.45 resistance level at 32.65
- SET Index: 1,568.97 (-0.13%), 28 May 2026
- S&P 500 Index: 7,563.63 (+0.58%), 28 May 2026
- Thai 10-year government bond yield (interpolated): 2.342 (+1.39 bps), 28 May 2026
- US 10-year treasury yield: 4.45 (-3.00 bps), 28 May 2026
- Risk sentiment improves on US–Iran ceasefire optimism
- US economic data shows softer April PCE and lower Q1 US GDP revision
- ECB minutes highlight growing support for potential rate hike
- Tokyo core inflation slows to 1.3%, remains below BOJ target
- Dollar weakens on soft US data and Iran ceasefire optimism
Risk sentiment improves on US–Iran ceasefire optimism
Overall risk sentiment improved as optimism grew over a potential US–Iran ceasefire agreement. Axios reported that US and Iranian negotiators had reached a 60-day memorandum of understanding pending approval from President Trump, although Iran’s Tasnim disputed the claims, stating that no final agreement had been reached and no official announcement had been made.
US economic data shows softer April PCE and lower Q1 US GDP revision
Core PCE prices rose 0.2% m/m in April, below expectations of 0.3%, while the annual rate ticked up to 3.3% y/y, the highest since November 2023. Headline PCE increased 0.4% m/m and 3.8% y/y, in line with expectations for the annual figure but slightly softer on the monthly reading. Meanwhile, US economic growth slowed more than initially estimated in Q1, with GDP rising at a 1.6% annualized rate versus the prior 2.0% reading. Consumer spending was also revised lower to 1.4% from 1.6%.
ECB minutes highlight growing support for potential rate hike
ECB minutes showed all members agreed to keep rates unchanged, though some said the decision was close and they would have supported a hike. They noted higher inflation risks and weaker growth, adding that waiting for more clarity is becoming less appropriate and a passive approach is harder to justify.
Tokyo core inflation slows to 1.3%, remains below BOJ target
Tokyo core inflation rose 1.3% y/y in May, staying below the Bank of Japan’s 2% target for a fourth straight month. The reading, which excludes fresh food, eased from 1.5% in April and came in below expectations of 1.5%, marking the sixth consecutive month of slowing inflation as subsidies offset higher input costs linked to global tensions. In a separate report, industrial production unexpectedly rose in April for the first time since January and retail sales picked up from a month earlier. Japan’s unemployment rate fell to 2.5% last month, the lowest since July.
Dollar weakens on soft US data and Iran ceasefire optimism
The 10-year government bond yield (interpolated) on the previous trading day was 2.342, +1.39 bps. The benchmark government bond yield (LB365A) was 2.34, +3.00 bps. Meantime, the latest closed US 10-year bond yields was 4.45, -3.0 bps. USDTHB on the previous trading day closed around 32.68, moving in a range of 32.56 – 32.595 this morning. USDTHB could be closed between 32.45 – 32.65 today. The dollar declined after reports of a 60-day extension to the US–Iran ceasefire, unwinding two days of gains driven by renewed conflict. The index was already under pressure ahead of the Iran-related developments, weighed down by softer-than-expected monthly headline and core PCE readings, even as annual inflation remains elevated above the Fed’s target, along with a downward revision to Q1 GDP. Meanwhile, Fed commentary had limited market impact. The euro strengthened above 1.1600 as ECB minutes suggested some members were open to a rate hike, while the British pound rebounded above 1.3400 amid improved risk sentiment despite limited UK-specific catalysts. The Japanese yen also gained as the dollar retreated and oil prices eased.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
