- USDTHB: moving in the range 33.00-33.16 this morning, supportive level at 33.00 resistance level at 33.30
· SET Index: 1,685.4 (+0.26%), 18 Jan 2023
· S&P 500 Index: 3,928.9 (-1.57%), 18 Jan 2023
· Thai 10-year government bond yield (interpolated): 2.45 (-1.37 bps), 18 Jan 2023
· US 10-year treasury yield: 3.37 (-16.00 bps), 13 Jan 2023
- U.S. retail sales post biggest drop in a year; inflation retreating
- UK inflation edges down to 10.5% in December, food prices surge
- Australia jobs take surprise dip in Dec, but unemployment stays low
- Oil prices dip as markets gauge U.S. inventory build, recession fears
U.S. retail sales post biggest drop in a year; inflation retreating U.S. retail sales fell by the most in a year in December, pulled down by declines in purchases of motor vehicles and a range of other goods, putting consumer spending and the overall economy on a weaker growth path heading into 2023. The second straight monthly decrease in retail sales, which are mostly goods, is undercutting production at factories. Manufacturing output recorded its biggest drop in nearly two years in December, while monthly producer prices also tumbled, other data showed on Wednesday. The widespread signs of weakening demand and subsiding inflation are likely to encourage the Federal Reserve to further scale back the pace of its rate increases next month, but not pause its monetary policy tightening anytime soon as the labor market remains tight. The U.S. central bank is engaged in its fastest rate hiking cycle since the 1980s.
UK inflation edges down to 10.5% in December, food prices surge British inflation eased last month after hitting a 41-year high in October, offering some comfort to the Bank of England, but the pressure on households remained intense as food and drink prices rose at the fastest pace since 1977. Annual consumer price inflation fell to 10.5% in December from November’s 10.7%, the Office for National Statistics said on Wednesday, a drop in line with economists’ forecasts in a Reuters poll. However, while lower prices for petrol and clothing pushed down the headline rate, the cost of food and non-alcoholic beverages was 16.8% higher than a year earlier, the sharpest increase since September 1977, led by eggs, milk and cheese. The Bank of England forecast in November that headline CPI would drop from a peak of 11.1% last October to around 5% by the end of 2023 as energy prices stabilize.
Australia jobs take surprise dip in Dec, but unemployment stays low Australia employment unexpectedly dipped in December following an outsized gain the month before in a sign the red-hot labor market might be cooling, though the jobless rate stayed near five-decade lows. Figures from the Australian Bureau of Statistics (ABS) on Thursday showed net employment fell 14,600 in December from November, when it surged by a revised 58,200, and missed forecasts for an increase of 22,500. The market reacted by nudging the Australian dollar down 0.5% to $0.6906, while three-year bond futures gained 18 ticks to 96.980 to imply a yield of 3.02%. On the brighter side the jobless rate held at 3.5%, just above the recent 48-year trough of 3.4%, while the participation rate dipped to 66.6% from a record high of 66.8% in November.
Oil prices dip as markets gauge U.S. inventory build, recession fears The 10-year government bond yield (interpolated) on the previous trading day was 2.45, -1.37 bps. The benchmark government bond yield (LB31DA) was 2.535, -3.0 bps. LB31DA could be between 2.30-2.80. Meantime, the latest closed US 10-year bond yields was 3.37, -16.0 bps. USDTHB on the previous trading day closed around 33.07 Moving in a range of 33.00-33.16 this morning. USDTHB could be closed between 33.00-33.30 today. Oil prices fell further on Thursday as industry data signaled another big weekly build in U.S. crude inventories, while weak economic data and a potential rise in interest rates fanned growing fears over a looming recession. But losses in crude markets were limited as traders held out hope for a Chinese economic rebound this year. Reports from both the Organization of Petroleum Exporting Countries and the International Energy Agency suggested that crude demand will hit new highs this year on the back of a Chinese recovery. Data from the American Petroleum Institute showed that U.S. oil inventories grew 7.6 million barrels last week, bucking expectations for a drop for a second consecutive week.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
