- USDTHB: moving in the range 33.705 – 33.72 this morning, supportive level at 33.50 resistance level at 33.78
- SET Index: 1,544.6 (-1.38%), 29 Oct 2026
- S&P 500 Index: 7,720.4 (-0.31%), 29 Oct 2026
- Thai 10-year government bond yield (interpolated): 2.17 (-5.45 bps), 29 Oct 2026
- US 10-year treasury yield: 4.98 (-7.00 bps), 29 Oct 2026
- U.S. inflation pressures continued to moderate despite some mixed signals
- U.S. Q3 GDP increases better-than-expected
- U.S. Initial Jobless Claims drop to lowest level in months
- ECB kept rates steady but points to mounting inflation risk
- Euro-area economic sentiment softened for a second consecutive month in October
- Strong Japan macro data keeping pressure on BOJ’s decision to tighten further
- Dollar slipped after strong US data; Yen held steady ahead of BoJ’s meeting
U.S. inflation pressures continued to moderate despite some mixed signals
The U.S. PCE inflation remained elevated in September, with headline PCE rising 3.6%y/y or 0.5%m/m, in line with market expectations. Also, core PCE increased 3.1%y/y or 0.3%m/m. In the third quarter, the core PCE rose 2.5% in Q3/2026, slightly above the 2.4% consensus but down sharply from 3.3% in Q2/2026. Meanwhile, the GDP Price Index slowed to 2.2%, well below expectations of 3.2% and down from 6.1% in last quarter.
U.S. Q3 GDP increases better-than-expected
The U.S. economy estimate expands at 3.4%q/q SAAR in Q3/2026, accelerating from 2.2% in Q2/2026 and exceeding the 3.2% consensus forecast. Growth was driven by stronger investment, consumer spending, and government expenditure, partly offset by weaker exports, while imports increased. Real sales to private domestic purchasers also accelerated compared to the second quarter.
U.S. Initial Jobless Claims drop to lowest level in months
The U.S. initial jobless claims fell to 194K in the week ending October 24, below the 199K consensus and slightly lower than the previous week’s revised 195K. The four-week moving average also declined to 196.75K, while continuing claims fell by 21K to 1.701M, pointing to continued resilience in the labor market.
ECB kept rates steady but points to mounting inflation risk
The ECB kept its three key policy rates unchanged, with the deposit facility rate at 2.50%, as policymakers faced a more challenging trade-off between rising inflation risks and a weaker growth outlook. The ECB warned that the ongoing energy shock could push inflation higher while weighing on economic activity, particularly if higher energy costs spill over into broader prices and wages. At the same time, tighter financing conditions are expected to restrain both demand and inflation. Against this uncertain backdrop, the ECB maintained a data-dependent, meeting-by-meeting approach and refrained from providing a predetermined path for interest rates.
Euro-area economic sentiment softened for a second consecutive month in October
The EU Economic Sentiment Index (ESI) fell 0.6 points to 96.9. The weakness was concentrated in consumer and services sentiment, suggesting that the domestic-demand recovery remains fragile as households became more cautious about their finances and major purchases. However, industrial confidence edged higher, supported by improving recent production and export order assessments, while employment expectations also strengthened. Overall, the survey points to a two-speed recovery, with improving manufacturing and labor-market expectations providing some resilience, but still-weak household and services confidence limiting the strength of the broader recovery.
Strong Japan macro data keeping pressure on BOJ’s decision to tighten further
Persistent inflation in Tokyo strengthened, despite some moderation in October, with Core CPI rose 2.6%y/y, in line with market expectation, while underlying inflation also held at 2.6%y/y, suggesting price pressures remain sufficiently firm. The unemployment rate edged down to 2.4% in September from 2.5%. The data support expectations that the Bank of Japan (BOJ) will maintain a hawkish stance even if it keeps rates unchanged at its latest meeting.
Dollar slipped after strong US data; Yen held steady ahead of BoJ’s meeting
The 10-year government bond yield (interpolated) on the previous trading day was 2.17, -5.45 bps. The benchmark government bond yield (LB365A) was 2.09, -6.00 bps. Meantime, the latest closed US 10-year bond yields was 4.98, -7.00 bps. USDTHB on the previous trading day closed around 33.76 Moving in a range of 33.705-33.72 this morning. USDTHB could be closed between 33.50-33.78 today. The dollar slipped as stronger-than-expected U.S. data, while uncertainty over the Fed next policy move kept investors cautious about the outlook for interest rates, with market anticipated over 80% chance to hike 25 bps. While Yen steadies, unwinding a portion of recent losses as market participants prepared for the conclusion of the BoJ’s policy review today (October 30).
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
