- USDTHB: moving in the range 33.15 – 33.17 this morning, supportive level at 33.05 resistance level at 33.30
- SET Index: 1,611.28 (+1.11%), 3 July 2026
- S&P 500 Index: 7,483.24 (+0.00%), 2 July 2026
- Thai 10-year government bond yield (interpolated): 2.031 (-1.09 bps), 3 July 2026
- US 10-year treasury yield: 4.49 (+1.00 bps), 2 July 2026
- Hormuz shipping recovers, security risks persist
- Eurozone composite PMI returns to expansion
- Japan wage growth tops 5% for third straight year
- China private services PMI beats forecast despite slight easing
- Dollar posts weekly loss after weak payrolls
Hormuz shipping recovers, security risks persist
Oil and gas shipping through the Strait of Hormuz showed signs of recovery after recent disruptions, though Western navies warned that security risks remain elevated and parts of the waterway are still mined. Meanwhile, Iran signalled that China and other friendly nations could receive preferential transit fees, highlighting the potential for structurally higher shipping costs despite improving traffic flow.
Eurozone composite PMI returns to expansion
Eurozone business activity stabilized in June, with the composite PMI rising to 50.0 from 48.5 in May, matching the preliminary estimate and returning to expansion territory for the first time since March as stronger manufacturing offset a slower contraction in services. Meanwhile, the services PMI rose to 49.4 from 47.7, above the preliminary reading of 48.9, supported by a sharp easing in cost pressures following lower oil prices.
Japan wage growth tops 5% for third straight year
Japan’s annual wage negotiations delivered average pay increases of 5.01% in 2026, marking the third consecutive year above 5% and reinforcing signs of resilient domestic demand. Base pay rose 3.5%, exceeding Rengo’s target, supporting the Bank of Japan’s gradual policy normalization and further interest rate hikes.
China private services PMI beats forecast despite slight easing
China’s services activity eased only modestly in June, with the RatingDog Services PMI slipping to 54.1 from 54.4 in May, outperforming market expectations of 53.0. The reading remained well above the 50-expansion threshold, in line with the official PMI, suggesting the services sector continues to support a gradual recovery in economic momentum.
Dollar posts weekly loss after weak payrolls
The 10-year government bond yield (interpolated) on the previous trading day was 2.031, -1.09 bps. The benchmark government bond yield (LB365A) was 2.01, -1.00 bps. Meantime, the latest closed US 10-year bond yields was 4.49, +1.0 bps. USDTHB on the previous trading day closed around 33.17, moving in a range of 33.15 – 33.17 this morning. USDTHB could be closed between 33.05 – 33.30 today. The US dollar underperformed against its major peers as weaker-than-expected June nonfarm payrolls prompted markets to reassess hawkish Federal Reserve (Fed) rate expectations. With US markets closed for the Independence Day holiday on Friday, thin trading conditions kept the dollar largely range-bound, leaving the dollar index to post a weekly decline. Looking ahead, market attention will turn to the June ISM Services PMI and the minutes of the June FOMC meeting for further clues on the Fed's policy outlook.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
