- USDTHB: moving in the range 33.64 – 33.66 this morning, supportive level at 33.50 resistance level at 33.75
- SET Index: 1,646.00 (+0.42%), 20 July 2026
- S&P 500 Index: 7,443.28 (-0.19%), 20 July 2026
- Thai 10-year government bond yield (interpolated): 2.051 (+2.22 bps), 20 July 2026
- US 10-year treasury yield: 4.60 (+5.00 bps), 20 July 2026
- Geopolitical risks intensify as US-Iran conflict continues
- US announces 50% tariffs on Canadian goods
- Andy Burnham becomes UK prime minister
- China leaves LPR unchanged, eyes additional policy support
- Thailand introduces TISA to promote household investment and retirement savings
- US dollar gains as higher oil prices and treasury yields support
Geopolitical risks intensify as US-Iran conflict continues
Oil prices closed higher after a volatile session as geopolitical tensions in the Middle East continued to escalate. Despite reports that Iran remained open to negotiations and mediators proposed a temporary ceasefire, markets focused on signs of further escalation, including continued US-Iran strikes, reports of additional US military preparations, Houthi threats to Saudi-linked shipping in the Red Sea, and fresh explosions across several countries in the region, keeping geopolitical risk premiums elevated.
US announces 50% tariffs on Canadian goods
The US imposed 50% tariffs on selected Canadian imports, citing Canada’s trade restrictions on US autos, alcohol, and dairy products. The measures take effect in 30 days and apply regardless of USMCA status, although energy, critical minerals, and other key commodities are exempt.
Andy Burnham becomes UK prime minister
Andy Burnham became the UK’s new Prime Minister and appointed John Healey as Chancellor. Markets largely looked through the leadership change, with attention turning to upcoming UK labour market data and its implications for the BoE.
China leaves LPR unchanged, eyes additional policy support
China’s loan prime rates were left unchanged in July, with the 1-year LPR at 3.00% and the 5-year LPR at 3.50%, in line with expectations. Separately, following the sharper-than-expected slowdown in second-quarter GDP growth, the Financial Times reported that China's top leadership is considering additional stimulus measures, with policymakers expected to prioritize faster government bond issuance at the Politburo meeting later this month.
Thailand introduces TISA to promote household investment and retirement savings
Thailand is introducing the Thailand Individual Savings Account (TISA) to encourage long-term household investment in equities and bonds. The scheme allows investments of up to THB 600,000 per year with tax incentives, aiming to channel idle savings into long-term investments and help address the country’s growing retirement gap amid rapid population aging.
US dollar gains as higher oil prices and treasury yields support
The 10-year government bond yield (interpolated) on the previous trading day was 2.051, +2.22 bps. The benchmark government bond yield (LB365A) was 2.02, +2.00 bps. Meantime, the latest closed US 10-year bond yields was 4.60, +5.0 bps. USDTHB on the previous trading day closed around 33.64, moving in a range of 33.64 – 33.66 this morning. USDTHB could be closed between 33.50 – 33.75 today. The US dollar strengthened against most G10 currencies on Monday, supported by higher oil prices and rising treasury yields. Markets lacked major macro catalysts as the Fed remained in its pre-meeting blackout period and no US economic data were released. The euro weakened amid a lack of fresh catalysts, the British pound failed to benefit from the UK’s leadership change as markets shifted focus to upcoming employment and wage data, and the Japanese yen edged lower in choppy trading, with USD/JPY remaining around the 162 level.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
