- USDTHB: moving in the range 32.69 – 32.715 this morning, supportive level at 32.55 resistance level at 32.80
- SET Index: 1,596.01 (-0.31%), 25 Aug 2026
- S&P 500 Index: 7,677.28 (+0.32%), 25 Aug 2026
- Thai 10-year government bond yield (interpolated): 2.148 (-0.04 bps), 25 Aug 2026
- US 10-year treasury yield: 4.64 (-6.00 bps), 25 Aug 2026
- US-Iran tensions ease on signs of Hormuz diplomatic progress
- US data point to softer economic momentum
- Canada imposes 15–50% tariffs on US imports
- Germany’s Q2 growth revised higher to 0.3%
- BOJ underlying inflation stays above 2%
- Dollar slips amid softer US macro signals
US-Iran tensions ease on signs of Hormuz diplomatic progress
US-Iran tensions showed tentative signs of easing as Trump said mines had been cleared from key Strait of Hormuz shipping lanes, while Iran and Oman moved closer to a temporary secure corridor and joint mine-clearing framework. Reports also pointed to Pakistan-mediated ceasefire discussions, although the White House denied ongoing talks and Iran stressed the Strait had not yet reopened.
US data point to softer economic momentum
US data were broadly soft, with Consumer Confidence falling to 89.4 as weaker expectations offset improved current conditions. New home sales plunged 10.5% MoM to 607k, below expectations, while the Richmond Fed Manufacturing Index eased to 4, pointing to subdued activity despite a relatively optimistic outlook.
Canada imposes 15–50% tariffs on US imports
Canada announced retaliatory tariffs of 15–50% on around USD 20bn of US goods, covering roughly 700 products from September 8, alongside a CAD 7.5bn support package for businesses and workers affected by US tariffs. Trade official LeBlanc said negotiations faced language-related issues but maintained that a mutually beneficial deal remains possible.
Germany’s Q2 growth revised higher to 0.3%
Germany’s economy expanded 0.3% QoQ in Q2, revised up from the initial 0.2% estimate, supported by a 0.2% contribution from net exports. Private and government consumption each rose 0.1%, while capital investment unexpectedly declined 0.2%. In a separate report, German business confidence improved more than expected in August, with the Ifo Business Climate Index rising to 88.8 from 86.7, above the 87.2 consensus.
BOJ underlying inflation stays above 2%
A BOJ measure of underlying inflation rose 2.3% YoY in July, remaining above the central bank’s 2% target and reinforcing expectations for a potential September rate hike. The measure excludes fresh food and the impact of government support measures, suggesting underlying price pressures remain firmer than the 1.8% rise in Japan’s standard core CPI.
Dollar slips amid softer US macro signals
The 10-year government bond yield (interpolated) on the previous trading day was 2.148, -0.04 bps. The benchmark government bond yield (LB365A) was 2.11, +1.00 bps. Meantime, the latest closed US 10-year bond yields was 4.64, -6.0 bps. USDTHB on the previous trading day closed around 32.76, moving in a range of 32.69 – 32.715 this morning. USDTHB could be closed between 32.55 – 32.80 today. The dollar edged lower amid light macro newsflow and continued geopolitical focus. US data had limited market impact, with mixed Consumer Confidence, a sharp drop in New Home Sales and a soft Richmond Fed survey, while Fed’s Collins signalled a rate hike could be appropriate soon without sustained disinflation. The euro posted modest gains but remained rangebound despite reports that ECB policymakers are prepared to raise rates in September to counter Iran war-related pressures. The British pound recovered from early weakness to finish higher in choppy trade, while the Japanese yen lacked direction, with USD/JPY holding around 159.00.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
