- USDTHB : moving in the range 35.90-36.00 this morning, supporting level of USDTHB is around 35.80 resistance level is around 36.00/36.20
- SET Index: 1,541.3 (-1.22%), 5 Jul 2022
- S&P 500 Index: 3,831.4 (+0.16%), 5 Jul 2022
- Thai 10-year government bond yield (interpolated) : 2.80% (+1.70 bps), 5 Jul 2022
- US 10-year treasury yield: 2.82 (-6.00 bps), 5 Jul 2022
- Euro Hits 20-Year Low as PMI Shows Growth Stalling
- China’s June Services Activity Grow the Fastest in Almost a Year
- Australia's central bank raises rates for third month, still more to come
- Recession fear puts Dollar on course for biggest gain since 2020
Euro Hits 20-Year Low as PMI
Shows Growth Stalling
The euro fell to a new 20-year low against the dollar on Tuesday, after fresh
survey data showed the Eurozone economy edging closer toward contraction, under
the pressure of Russia's war in Ukraine. S&P Global's composite purchasing
managers index fell to 52.0 in June from 54.8 in May. That was a fraction
higher than initially estimated but still the lowest reading in 16 months.
S&P said the figures mean that Eurozone growth probably slowed to around
0.2% in the second quarter as a whole while falling readings for things like
new orders and employment indicate worse to come in the months ahead. Euro
reached the lowest it has been since it was overcoming the initial global
skepticism toward it on its creation in 1999.
China’s June Services Activity
Grow the Fastest in Almost a Year
China’s services activity grew at the fastest pace in almost a year in June as
COVID-19 curbs eased and demand revived.China Caixin services purchasing
managers' index (PMI) rose to 54.5 in June from 41.4 in May, the fastest growth
since last July and the first expansion since February. Sectors that were hit
hard by COVID-19 curbs such as retail and road transportation started to
rebound. However, the second-largest economy is still facing headwinds such as
a subdued property market, soft consumer spending, and fear of any recurring
waves of infections.
Australia's central bank raises
rates for third month, still more to come
Australia's central bank on Tuesday raised interest rates for a third straight
month and flagged more ahead as it struggles to contain surging inflation even
at the risk of triggering an economic downturn. The Reserve Bank of Australia
(RBA) lifted its cash rate by 50 basis points to 1.35%, marking 125 basis
points of hikes since May and the fastest series of moves since 1994. Official
data on consumer price inflation for the second quarter is expected to show
alarming rise to 6% or more, a major reason markets are priced for another
half-point hike in August and rates reaching at least 3.0% by the end of the
year.
Recession fear puts Dollar on
course for biggest gain since 2020
The 10-year government bond yield (interpolated) on the previous trading day
was 2.80, +1.70 bps. The benchmark government bond yield (LB31DA) was 2.70,
+2.00 bps. LB31DA could be between 2.63-2.73. Meantime, the latest closed US
10-year bond yields was 2.82%, -6.00bps. USDTHB on the previous trading day
closed around 35.70 Moving in a range from 35.90-36.00 this morning. USDTHB
could be closed between 35.80-36.20 today. Safe-haven demand strengthened the
dollar on Tuesday to levels last seen in 2002 while the euro slumped to
two-decade lows as the latest surge in European gas prices fueled recession
concerns. The dollar index rose 1.6% at one point and the euro fell as much as
1.75% to lows last seen in late 2002. It was the biggest single-day decline for
the euro and the dollar's largest one-day gain since COVID-19 roiled markets in
March 2020.
Sources : ttb analytics , Bloomberg, CNBC, Investing, CEIC
