- USDTHB: moving in the range 36.64-36.72 this morning supportive level at 36.50 resistance level at 36.80
· SET Index: 1,396.2 (-0.84%), 11 Apr 2024
· S&P 500 Index: 5,051.4 (-0.21%), 11 Apr 2024
· Thai 10-year government bond yield (interpolated): 2.75 (+8.26 bps), 11 Apr 2024
· US 10-year treasury yield: 4.67 (+4.00 bps), 11 Apr 2024
- US manufacturing output increases in March; February data revised higher
- Euro zone trade surplus surges in Feb
- Japan exports grow more than expected in March
- Dollar hits 5-month high against euro; yen weakest since 1990
US manufacturing output increases in March; February data revised higher Production at US factories increased solidly in March as output at motor vehicle assembly plants and elsewhere rose, suggesting that manufacturing was turning the corner after being constrained by higher borrowing costs. Manufacturing output rose 0.5% last month after an upwardly revised 1.2% rebound in the prior month, the Federal Reserve said on Tuesday. Factory output was previously reported to have rebounded 0.8% in February. Economists polled by Reuters had forecast factory output rising 0.3%. Production at factories increased 0.8% year-on-year in March. It edged down at a 0.1% annualized rate in the first quarter after contracting at a 0.9% pace in the October-December quarter. Manufacturing accounts for 10.4% of the economy. A survey from the Institute for Supply Management early this month showed manufacturing grew for the first time in 1-1/2 years in March.
Euro zone trade surplus surges in Feb Euro zone exports jumped in February and the bloc's trade surplus widened, adding to recent indicators suggesting that the bloc is now past the worst of its economic malaise and a slow rebound is underway. The euro zone economy has stagnated for six straight quarters while its vast manufacturing sector was in deep recession but some hopeful indicators now suggest that global demand is recovering all while the bloc's import bill remains subdued. The trade surplus doubled in February to 23.6 billion euros from the previous month, all on a big monthly surge in extra euro area exports, the EU's statistic agency said. Still, while exports have shown big monthly gains over the past two months, they are merely on par with year ago figures, indicating that the recovery is still far from complete.
Japan exports grow more than expected in March Japan’s exports grew more than expected in March, continuing strong growth momentum from the prior month and pushing the country into a trade surplus as demand in its biggest markets- the US and China- remained strong. Exports grew 7.3% year-on-year in March, official data showed on Wednesday. The reading was higher than expectations of 7.0% and remained close to the 7.8% jump seen in the prior month. Strong exports saw Japan’s trade balance swing to a surplus of 366.5 billion yen ($2.37 billion), beating expectations for a surplus of 345.5 billion yen and rising from the 377.8 billion yen deficit seen in the prior month. Continued stimulus measures in China helped spur some improvements in local demand, while recent inflation and retail figures showed that consumption in the US remained strong.
Dollar hits 5-month high against euro; yen weakest since 1990 The 10-year government bond yield (interpolated) on the previous trading day was 2.75, +8.26 bps. The benchmark government bond yield (LB31DA) was 2.62, +5.00 bps. Meantime, the latest closed US 10-year bond yields was 4.67, +4.00 bps. USDTHB on the previous trading day closed around 36.63. Moving in a range of 36.64-36.72 this morning. USDTHB could be closed between 36.50-36.80 today. The dollar reached a five-month high against the euro on Tuesday after Federal Reserve Chair Jerome Powell said the US central bank may need to keep rates higher for longer as inflation remains sticky. The greenback also hit its highest level against the Japanese yen since 1990, with traders on alert for possible intervention by Japanese authorities. The greenback has been bolstered by stronger-than-expected growth data, including retail sales data for March released on Monday. Stickier-than-hoped inflation is seen as making it less likely that the Federal Reserve will begin cutting interest rates in the coming months.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
