- USDTHB: moving in the range 32.86 – 32.87 this morning, supportive level at 32.75 resistance level at 33.00
- SET Index: 1,618.82 (+1.46%), 7 Sep 2026
- S&P 500 Index: 7,718.60 (-0.38%), 4 Sep 2026
- Thai 10-year government bond yield (interpolated): 2.248 (+1.15 bps), 7 Sep 2026
- US 10-year treasury yield: 4.78 (+1.00 bps), 4 Sep 2026
- Iran signals progress on Hormuz deal despite continued shipping threats
- Eurozone growth revised higher, strengthening case for ECB tightening
- AfD lands record state election win, dealing blow to Merz
- Strong Japan wage growth keeps BoJ on tightening path
- Thai inflation rises to 2.53% but remains within BOT Target
- Dollar slips as yen surges to six-month high
Iran signals progress on Hormuz deal despite continued shipping threats
Iran said a shipping agreement with Oman on the Strait of Hormuz is imminent, with final details being worked out on a temporary safe route through the key energy corridor. The diplomatic progress comes despite continued Iranian threats to vessels in the strait and mounting pressure over its nuclear program, as the US seeks to refer Tehran to the UN Security Council for obstructing international inspectors.
Eurozone growth revised higher, strengthening case for ECB tightening
Eurozone Q2 GDP growth was revised up to 0.6% QoQ from 0.4%, marking the strongest expansion in over a year. The upgrade was driven largely by Ireland's outsized 10.2% GDP surge, supported by strong activity from multinationals. In terms of growth components, household consumption and trade also contributed positively to the expansion.
AfD lands record state election win, dealing blow to Merz
Germany’s far-right AfD scored a historic victory in Saxony-Anhalt, winning 43.8% of the vote and more than doubling its previous support, while Chancellor Friedrich Merz’s CDU slumped to 17.2%. The result reflects growing voter dissatisfaction amid sluggish growth and rising costs, delivering a major political setback for Merz. However, the AfD fell three seats short of an outright majority, leaving its ability to form a government uncertain.
Strong Japan wage growth keeps BoJ on tightening path
Japan’s nominal wages surged 4.7% YoY in July, the fastest increase since 1997 and well above the 3.8% consensus, strengthening the case for further BoJ tightening. Real wages rose 2.4%, the strongest gain in around five years, while base pay increased 4.1%. In a separate report, Japan’s Q2 GDP growth was revised up to 1.4% annualized from 1.1%. Quarterly growth was upgraded to 0.4%, supported by a smaller decline in business investment, while private consumption was flat.
Thai inflation rises to 2.53% but remains within BOT Target
Thailand’s headline inflation accelerated to 2.53% YoY in August from 1.95% in July, above the 2.43% consensus, while core inflation rose to 1.44%. Despite the pickup, inflation remained within the BOT’s 1–3% target range, suggesting limited implications for monetary policy as the central bank remains focused on supporting slowing growth. Inflation is expected to rise further in September on higher oil, food and transportation costs, with the Commerce Ministry projecting around 2.7% in Q4.
Dollar slips as yen surges to six-month high
The 10-year government bond yield (interpolated) on the previous trading day was 2.248, +1.15 bps. The benchmark government bond yield (LB365A) was 2.21, +2.00 bps. Meantime, the latest closed US 10-year bond yields was 4.78, +0.0 bps. USDTHB on the previous trading day closed around 32.91, moving in a range of 32.86 – 32.87 this morning. USDTHB could be closed between 32.75 – 33.00 today. The dollar struggled to maintain gains from Friday’s stronger-than-expected US payrolls report, with holiday-thinned trading and the Fed blackout period limiting direction ahead of this week’s US CPI release. The Japanese yen climbed to its strongest level since February, surpassing the highs reached after the Japan-US coordinated intervention.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
