- USDTHB: moving in the range 32.605 – 32.65 this morning, supportive level at 32.50 resistance level at 32.75
- SET Index: 1,613.78 (+0.24%), 21 Aug 2026
- S&P 500 Index: 7,674.37 (+0.43%), 21 Aug 2026
- Thai 10-year government bond yield (interpolated): 2.138 (+0.80 bps), 21 Aug 2026
- US 10-year treasury yield: 4.74 (+5.00 bps), 21 Aug 2026
- Oil extends weekly gains ahead of new US sanctions on Iran
- US–Canada trade talks collapse, triggering 50% tariffs
- US PMI data signal growth acceleration in Q3
- Eurozone PMI gains momentum in August
- Dollar remains soft despite higher US yields
Oil extends weekly gains ahead of new US sanctions on Iran
Middle East tensions remain elevated as US President Trump reiterated that Washington is monitoring the conflict and warned countries against supporting Iran, while saying Tehran wants a deal but is not yet prepared to accept the right terms. Iran condemned Washington’s looming sanctions as unlawful extraterritorial pressure and said regional neighbours had discussed new security and economic arrangements. Meanwhile, Israel threatened heavier strikes on Gaza unless Hamas halts drone and balloon launches, China reaffirmed its support for talks with Iran, and Iran-linked hackers were reportedly behind last month’s cyberattack that shut down a UK power plant.
US–Canada trade talks collapse, triggering 50% tariffs
US–Canada trade talks collapsed after three days of negotiations, prompting the US to impose 50% tariffs on around USD 20bn of Canadian imports under Section 338. Canadian PM Mark Carney suspended negotiations and vowed dollar-for-dollar retaliation, citing unfair last-minute changes to US terms. While the new tariffs cover a relatively small share of Canadian exports, they add to existing duties on steel, lumber, and autos, raising downside risks to Canada’s fragile economic recovery and escalating bilateral trade tensions.
US PMI data signal growth acceleration in Q3
US S&P Global PMI data were mixed in August. Manufacturing PMI unexpectedly fell to 53.2 from 53.9, below expectations of 53.9, while services PMI jumped to 56.8 from 54.6, well above the 54.0 forecast. As a result, the composite PMI rose to 56.0 from 54.5. S&P Global noted that the Q3 data point to annualized GDP growth approaching 3.0%, up from 1.5% in Q2, while employment growth also strengthened as business confidence improved amid easing concerns over tariffs and the Middle East conflict.
Eurozone PMI gains momentum in August
Eurozone private-sector activity improved unexpectedly in August, with the Composite PMI rising to 52.1 from 52.0 (exp. 51.7), driven by the strongest manufacturing growth in over four years. Germany remained in expansion, while France contracted further, suggesting broader regional strength drove the upside surprise. Meanwhile, UK PMI strengthened in August, with the Composite PMI rising to 52.5. Services improved to 52.8, while Manufacturing eased to 51.5 but remained in expansion.
Dollar remains soft despite higher US yields
The 10-year government bond yield (interpolated) on the previous trading day was 2.138, +0.80 bps. The benchmark government bond yield (LB365A) was 2.10, +1.00 bps. Meantime, the latest closed US 10-year bond yields was 4.74, +5.0 bps. USDTHB on the previous trading day closed around 32.74, moving in a range of 32.605 – 32.65 this morning. USDTHB could be closed between 32.50 – 32.75 today. The dollar was little changed, again failing to track higher US yields as planned increases in long-end Treasury buybacks weighed on the currency. Focus shifts to Jackson Hole and new US sanctions on Iran this week. The dollar showed little reaction to mixed US PMIs, leaving the index at 98.82 versus 99.64 last week. Meanwhile, the euro was little changed despite solid Eurozone flash PMIs pointing to resilient Q3 growth, renewed hiring, and elevated inflation. The pair briefly rose to 1.1711 before easing to 1.1680.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
