- USDTHB: moving in the range 32.98 – 33.02 this morning, supportive level at 32.90 resistance level at 33.10
- SET Index: 1,612.00 (-0.16%), 7 Aug 2026
- S&P 500 Index: 7,757.64 (+0.62%), 7 Aug 2026
- Thai 10-year government bond yield (interpolated): 2.080 (+0.42 bps), 7 Aug 2026
- US 10-year treasury yield: 4.65 (-4.00 bps), 7 Aug 2026
- US labour market softens with NFP falling below expectations
- US-Iran tensions persist as Hormuz deal remains uncertain
- US senate passes short-term funding bill, easing shutdown risk
- China trade balance grows more than expected in July on exports boost
- Dollar softens as weak NFP tempers Fed hike expectations
US labour market softens with NFP falling below expectations
US labour market data disappointed in July, with headline payrolls falling by 23k versus expectations for a 80k gain, while the previous two months were revised down by a combined 103k. Weakness was broad-based, led by a 53k decline in government employment and a 40k drop in leisure and hospitality. Private payrolls rose by just 30k, below the 78k expected and consistent with the earlier ADP miss. Meanwhile, the unemployment rate edged down to 4.1%, largely reflecting a decline in the participation rate to 61.4%. Wage growth also softened, with average hourly earnings rising just 0.1% MoM and 3.2% YoY, both below expectations.
US-Iran tensions persist as Hormuz deal remains uncertain
US-Iran tensions remained elevated as Trump said Washington is only “semi-negotiating” with Tehran, while Iran maintained that formal talks remain suspended. Although Iran said a Hormuz transit deal with Oman is close, it demanded sanctions relief, war compensation and an end to the US blockade before reopening the Strait. Regional risks also persisted amid renewed Houthi attacks, while Israel rejected a US-backed Gaza peace plan.
US senate passes short-term funding bill, easing shutdown risk
The US Senate passed a short-term funding bill in a 90–6 vote, reducing the risk of a government shutdown ahead of the November midterms. The measure would fund the government from October 1 through December 11, while excluding President Trump’s requests for Iran war funding and new voter ID measures. The bill now heads to the House, which is expected to consider it after returning on August 31.
China trade balance grows more than expected in July on exports boost
China’s trade remained resilient in July, though growth moderated from June, with exports rising 23.9% YoY and imports 27.5%, leaving a USD 112.5bn surplus. AI-related electronics, semiconductors and EVs continued to support exports, while higher chip and commodity prices boosted trade values. Meanwhile, over the weekend, China’s inflation cooled more than expected in July as lower global energy prices eased price pressures. PPI rose 3.5% YoY, slowing from 4.1% and below the 3.8% forecast, while CPI eased to 0.5% YoY from 1.0%, also missing expectations of 0.8%. On a monthly basis, CPI fell 0.1%, versus expectations for a 0.2% increase.
Dollar softens as weak NFP tempers Fed hike expectations
The 10-year government bond yield (interpolated) on the previous trading day was 2.080, +0.42 bps. The benchmark government bond yield (LB365A) was 2.04, +0.00 bps. Meantime, the latest closed US 10-year bond yields was 4.65, -4.0 bps. USDTHB on the previous trading day closed around 33.11, moving in a range of 32.98 – 33.02 this morning. USDTHB could be closed between 32.90 – 33.10 today. The dollar weakened after July NFP unexpectedly fell by 23k, alongside 103k of downward revisions. However, unemployment unexpectedly declined to 4.1%, complicating the Fed outlook, while Musalem’s preference for higher rates highlighted growing FOMC divisions. A September hike remains a coin toss, with upcoming CPI and PPI data likely to be key. The index briefly hit an August low of 99.403. Meanwhile, the Japanese yen strengthened on narrower UST-JGB yield differentials and intervention warnings from Finance Minister Katayama, briefly pushing USD/JPY below 157.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
