- USDTHB: moving in the range 35.91-36.00 this morning, supportive level at 35.90 resistance level at 36.10
· SET Index: 1,620.8 (-0.25%), 25 Nov 2022
· S&P 500 Index: 4,026.1 (-0.03%), 25 Nov 2022
· Thai 10-year government bond yield (interpolated): 2.67 (-3.22 bps), 25 Nov 2022
· US 10-year treasury yield: 3.68 (-3.0 bps), 25 Nov 2022
- U.S. Black Friday online sales hit record $9 billion despite high inflation
- Japan factory output seen down for second month in sign of patchy recovery
- China loosens monetary policy again with 25 bp reserve ratio cut
- Dollar rises broadly, yuan slumps as China's COVID unrest rattles sentiment
U.S. Black Friday online sales hit record $9 billion despite high inflation U.S. shoppers spent a record $9.12 billion online this Black Friday, a report showed, as consumers weathered the squeeze from high inflation and grabbed steep discounts on everything from smartphones to toys. Online spending rose 2.3% on Black Friday, Adobe Inc's data and insights arm Adobe Analytics said, thanks to consumers holding out for discounts until the traditionally big shopping days, despite deals starting as early as October. Adobe Analytics, which measures e-commerce by analyzing transactions at websites, has access to data covering purchases at 85% of the top 100 internet retailers in the United States. It had forecast Black Friday sales to rise a modest 1%. Adobe expects Cyber Monday to be the season's biggest online shopping day again, driving $11.2 billion in spend.
Japan factory output seen down for second month in sign of patchy recovery Japan’s factory output likely fell for a second straight month in October, while retail sales probably grew at the fastest pace since May 2021, according to a Reuters poll of 17 economists, underscoring an uneven recovery from the COVID-19 pandemic. The mixed batch of indicators underscores the challenge for the world’s third largest-economy to get on a sustainable growth path as Prime Minister Fumio Kishida, whose public support is falling, rolls out more stimulus to curb cost-push inflation. Adding to the pain of higher costs of living and doing business due to the excessively weak yen, the spectre of a global recession looms large, undermining business sentiment, analysts say. Data from the industry ministry, due out on Nov. 29, is expected to show industrial output fell 1.5% in October from the previous month, following the prior month’s 1.7% decline
China loosens monetary policy again with 25 bp reserve ratio cut China's central bank loosened monetary policy again on Friday, the latest in a string of official attempts to shore up a financial system struggling with the implosion of a housing credit bubble. The People's Bank of China said it will cut the reserve requirement ratio for most banks by 25 basis points, freeing up around 500 billion yuan in liquidity for the economy. It's only the second cut this year in the so-called RRR, which has a material impact on overall financial conditions in the Chinese economy and comes hot on the heels of another round of measures to prop up ailing real estate developers. Earlier this week, major state-owned banks said they would offer nearly $200 billion in fresh credit to the sector, over half of it coming from Industrial and Commercial Bank of China, or ICBC, and Postal Savings Bank of China.
Dollar rises broadly, yuan slumps as China's COVID unrest rattles sentiment The 10-year government bond yield (interpolated) on the previous trading day was 2.67, -3.22 bps. The benchmark government bond yield (LB31DA) was 2.665, -12.0 bps. LB31DA could be between 2.60-2.90. Meantime, the latest closed US 10-year bond yields was 3.68, -3.0 bps. USDTHB on the previous trading day closed around 35.66 Moving in a range of 35.91-36.00 this morning. USDTHB could be closed between 35.80-36.20 today. The dollar gained broadly on Monday as protests against COVID restrictions in China stoked uncertainty and dented sentiment, sending the yuan sliding and pushing nervous investors toward the safe-haven greenback. The COVID protests have flared across China and spread to several cities in the wake of a deadly fire in Urumqi in the country's far west, with hundreds of demonstrators and police clashing in Shanghai on Sunday night.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
