- USDTHB: moving in the range 32.69 – 32.72 this morning, supportive level at 32.65 resistance level at 32.95
- SET Index: 1,516.69 (-0.07%), 19 May 2026
- S&P 500 Index: 7,353.61 (-0.67%), 19 May 2026
- Thai 10-year government bond yield (interpolated): 2.350 (+1.05 bps), 19 May 2026
- US 10-year treasury yield: 4.67 (+8.00 bps), 19 May 2026
- Risk sentiment turns off as Iran-US talks show little progress
- UK employers cut hiring and post fewer jobs in April
- Thai government defies court challenge to push through crisis borrowing
- BOT flags resilient bank stability despite soft lending and profit pressure
- Dollar firms as yields rise and Middle East risks persist
Risk sentiment turns off as Iran-US talks show little progress
Market sentiment deteriorated throughout Tuesday and weakened further after reports suggested Iran-US negotiations remained deadlocked, with mediators seeing little progress and Tehran maintaining demands largely unchanged from previous unsuccessful rounds of talks. In a separate report, NATO is considering measures to help secure shipping through the Strait of Hormuz if the waterway remains closed into early July, amid growing concerns over disrupted trade flows.
UK employers cut hiring and post fewer jobs in April
UK labour market data pointed to a clear cooling, with employers cutting hiring and vacancies falling to their lowest level since 2021, alongside a 100k drop in payrolled jobs in April — the largest decline since the pandemic. Unemployment unexpectedly rose to 5% in the three months to March, up from 4.9%, while the March print alone surged to 5.5%, its highest since 2015, as firms contended with rising labour costs and broader uncertainty, including geopolitical spillovers from the Middle East. On the political side, Andy Burnham, a potential future Labour leader, ruled out any changes to Chancellor Reeves’ fiscal rules if he becomes Prime Minister, reaffirming commitment to the existing fiscal framework.
Thai government defies court challenge to push through crisis borrowing
Thailand is moving ahead with a 400bn baht ($12bn) emergency borrowing plan despite a court challenge that could delay measures to address rising energy costs and slower growth. An initial 175bn baht package has been approved, covering payments to 13 million welfare recipients and a four-month subsidy program for around 30 million people. A constitutional court will review the legality of the off-budget borrowing scheme following an opposition petition.
BOT flags resilient bank stability despite soft lending and profit pressure
The Bank of Thailand reported commercial bank lending rose modestly by 0.2% in Q1 2026, supported by stronger working capital demand from large corporates amid higher energy and raw material costs linked to the Middle East conflict. SME and consumer lending continued to contract due to elevated credit risks, though overall asset quality remained stable as new NPL formation slowed. Banking sector profits weakened on lower net interest income and higher provisions.
Dollar firms as yields rise and Middle East risks persist
The 10-year government bond yield (interpolated) on the previous trading day was 2.350, +1.05 bps. The benchmark government bond yield (LB365A) was 2.36, +2.00 bps. Meantime, the latest closed US 10-year bond yields was 4.67, +8.0 bps. USDTHB on the previous trading day closed around 32.62, moving in a range of 32.69 – 32.72 this morning. USDTHB could be closed between 32.65 – 32.95 today. The dollar strengthened against major peers as rising global bond yields and ongoing geopolitical tensions supported demand for the dollar. Focus remained on Iran-US developments after Trump signaled a possible decision timeline within days, while reports suggested little progress in negotiations. The euro slipped below 1.1600 amid broad USD strength despite ECB Nagel’s data-dependent comments, the British pound weakened in choppy trade following labor data, and the Japanese yen edged lower after fading initial support from Japanese officials’ FX intervention warnings.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
