- USDTHB: moving in the range 32.655 – 32.675 this morning, supportive level at 32.55 resistance level at 32.75
- SET Index: 1,601.05 (-0.79%), 24 Aug 2026
- S&P 500 Index: 7,652.86 (-0.28%), 24 Aug 2026
- Thai 10-year government bond yield (interpolated): 2.148 (+1.06 bps), 24 Aug 2026
- US 10-year treasury yield: 4.70 (-4.00 bps), 24 Aug 2026
- Bessent unveils ‘Operation Economic Outcast’ against Iran
- US-Canada trade tensions escalate as Trump raises tariffs to 50%
- Bessent signals further support for long-end Treasuries
- Thailand plans tax on non-physical gold trading to tighten oversight
- Dollar firms amid renewed trade and geopolitical risks
Bessent unveils ‘Operation Economic Outcast’ against Iran
US Treasury Secretary Bessent announced Operation Economic Outcast, targeting nearly 60 Iran-linked entities, individuals, and vessels across nuclear, missile, cyber, and oil networks. The campaign also opens the door to secondary sanctions on digital assets, technology, gold, aviation, and shipping, while targeting Iran’s shadow fleet and global facilitators. Bessent stressed a “zero-leakage” approach to cut off Iranian revenue and warned that entities have limited time to wind down activities. A major financial institution is also expected to be sanctioned this week, with the US threatening to cut dollar access for institutions laundering Iranian funds. Market reaction was limited, though the dollar firmed modestly and gold edged lower.
US-Canada trade tensions escalate as Trump raises tariffs to 50%
US-Canada trade tensions escalated after President Trump announced 50% tariffs on Canadian autos, auto parts, and steel from January 2027, after Canada rejected a US trade offer. Canadian PM Carney said the terms were unacceptable, while Ontario Premier Ford called for potential retaliation on key exports, including oil and critical minerals. Separately, the US is reportedly considering a 7.5% tariff targeting Chinese overcapacity ahead of Trump-Xi talks, while Beijing signaled willingness to manage trade differences.
Bessent signals further support for long-end Treasuries
Treasury Secretary Bessent reaffirmed regular auction sizes while reports suggested the Treasury could tap its nearly USD 1tn TGA to fund additional buybacks, with the first operation set for September 9. Bessent is also reportedly prepared to take further steps to curb pressure from bond vigilantes at the long end.
Thailand plans tax on non-physical gold trading to tighten oversight
Finance Minister Ekniti ordered the design of a business tax on non-physical online gold trades to strengthen transaction transparency and combat illicit financial flows. The initiative, developed with the BOT, SEC, and industry stakeholders, seeks to align Thailand’s regulatory framework with global standards while preserving its competitiveness as a regional gold hub.
Dollar firms amid renewed trade and geopolitical risks
The 10-year government bond yield (interpolated) on the previous trading day was 2.148, +1.06 bps. The benchmark government bond yield (LB365A) was 2.10, +0.00 bps. Meantime, the latest closed US 10-year bond yields was 4.70, -4.0 bps. USDTHB on the previous trading day closed around 32.65, moving in a range of 32.655 – 32.675 this morning. USDTHB could be closed between 32.55 – 32.75 today. The dollar strengthened on Monday, gaining broadly against G10 currencies, with CAD the weakest performer after President Trump formally announced 50% tariffs on Canadian autos, auto parts, and steel from January 2027. US-Iran developments were also in focus, as Bessent unveiled “Operation Economic Outcast,” targeting Iran’s economy and warning against entities supporting it. The dollar briefly softened after reports that Bessent could tap the USD 1tn Treasury General Account to fund bond buybacks. With no major US data or Fed speakers, attention turns to NVIDIA earnings on Wednesday and Jackson Hole on Friday. The euro edged lower but remained tightly range-bound around 1.1600, the British pound drifted lower amid limited UK-specific catalysts, while the Japanese yen weakened slightly, with USD/JPY moving back above 159.00 despite softer US long-end yields.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
