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Daily Market Insight: 30 May 2023

30 พ.ค. 2566
  •   USDTHB: moving in the range 34.60-34.68 this morning supportive level at 34.45 resistance level at 34.75

·         SET Index: 1,541.0 (+0.66%), 29 May 2023

·         S&P 500 Index: 4,205.5 (+1.30%), 26 May 2023

·         Thai 10-year government bond yield (interpolated): 2.58 (-1.49 bps), 29 May 2023

·         US 10-year treasury yield: 3.80 (-3.00 bps), 26 May 2023


  • US House Rules panel to meet Tuesday on debt ceiling bill
  • UK shop price inflation strikes new record high
  • South Korea producer inflation slows to 27-month low in April
  • Dollar eases as deal over US debt ceiling lifts risk appetite


US House Rules panel to meet Tuesday on debt ceiling bill The U.S. House Rules Committee said it will meet on Tuesday afternoon to discuss the debt ceiling bill, which needs to pass a narrowly divided Congress before June 5, when the U.S. Treasury says it would run short of money to cover all its obligations. Democratic President Joe Biden and Republican House of Representatives Speaker Kevin McCarthy on Sunday signed off on an agreement to temporarily suspend the debt ceiling and cap some federal spending in order to prevent a U.S. debt default. Biden said the deal was ready to move to Congress for a vote. The deal, if approved, will prevent the U.S. government from defaulting on its debt and comes after weeks of heated negotiations between Biden and House Republicans. It has drawn fire from both hardline Republicans and progressive Democrats, but Biden and McCarthy are banking on getting enough votes from both sides.


UK shop price inflation strikes new record high British shop price inflation picked up this month to reach its highest rate since industry records began in 2005, although growth in food prices cooled slightly, a survey showed on Tuesday. The British Retail Consortium said prices in supermarkets and retail chains rose 9.0% in the year to May, after an 8.8% increase in April. Food price inflation as measured by the BRC slowed, however, to 15.4% from 15.7%. The figures follow official data last week that showed annual consumer price inflation - which includes services and non-shop goods like energy - slowed in April, but by less than expected, to 8.7% from 10.1%. Official food price inflation, which earlier this year rose to its highest rate since 1977, slowed only marginally to 19.1% from 19.2%.


South Korea producer inflation slows to 27-month low in April South Korea's producer prices rose in April at the slowest pace in 27 months, as agricultural and utility prices fell, central bank data showed. The Producer Price Index stood 1.6% higher in April than the same month a year before, slower than the 3.3% rise in March, according to the Bank of Korea (BOK). It was the slowest since January 2021. The index fell 0.1% on a monthly basis, reversing its 0.1% gain in the previous month and marking the first fall in four months, with agricultural product and utility prices dragging it lower. A BOK official said during a media briefing that there were mixed factors that would affect producer inflation in the following months, such as public utility price increases and a fall in natural gas prices.


Dollar eases as deal over US debt ceiling lifts risk appetite The 10-year government bond yield (interpolated) on the previous trading day was 2.58, -1.49 bps. The benchmark government bond yield (LB31DA) was 2.60, -2.00 bps. LB31DA could be between 2.30-2.80. Meantime, the latest closed US 10-year bond yields was 3.80, -3.00 bps. USDTHB on the previous trading day closed around 34.76 Moving in a range of 34.60-34.68 this morning. USDTHB could be closed between 34.50-35.00 today. The U.S. dollar fell on Tuesday against a basket of major currencies but did not drift far from a two-month peak, after a deal over the U.S. debt ceiling lifted risk sentiment, although the agreement could face a rocky path through Congress. The dollar index, which measures the U.S. currency against six major peers, slipped 0.125% to 104.17, easing away from the two-month high of 104.42 it touched on Friday. The index is set to end the month with a gain of 2.5%. A handful of hard-right Republican lawmakers said on Monday they would oppose a deal to raise the United States' $31.4 trillion debt ceiling. The opposition highlights the hurdles that Democratic President Joe Biden and top congressional Republican Kevin McCarthy will face to get the package through the Republican-controlled House of Representatives and Democratic-controlled Senate before the limit is reached.


Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC