- USDTHB: moving in the range 33.70 – 33.75 this morning, supportive level at 33.65 resistance level at 33.85
- SET Index: 1,507.20 (-0.75%), 2 Nov 2026
- S&P 500 Index: 7,541.40 (-0.51%), 2 Nov 2026
- Thai 10-year government bond yield (interpolated): 2.163 (+0.49bps), 2 Nov 2026
- US 10-year treasury yield: 4.910 (-3.00bps), 2 Nov 2026
- ISM manufacturing accelerates despite moderating input-cost pressures
- Euro area manufacturing expansion moderates, but price pressures remain uncomfortably strong
- China’s private manufacturing PMI slips to 52.0, signaling softer fourth-quarter momentum
- Korean exports nearly double as AI demand overwhelms calendar noise
- Moderately bullish USD with elevated two-way volatility
ISM manufacturing accelerates despite moderating input-cost pressures
The ISM Manufacturing PMI rose to 55.5 in October from 54.5, exceeding market expectations and signaling a broader acceleration in factory activity. Meanwhile, the Prices Paid index eased to 75.2 from 77.9, below the 77.2 consensus, but remained well above the 50 threshold, indicating that manufacturers continue to face widespread increases in raw-material and production costs despite a modest moderation in inflationary pressure.
Euro area manufacturing expansion moderates, but price pressures remain uncomfortably strong
The final S&P Global Eurozone Manufacturing PMI eased to 52.7 in October from 52.9, but exceeded the preliminary estimate of 52.4 and remained above the 50 expansion threshold. Rising input prices, reflecting constrained supply and elevated energy costs, strengthen the case for the European Central Bank to retain a hawkish stance despite softer manufacturing momentum.
China’s private manufacturing PMI slips to 52.0, signaling softer fourth-quarter momentum
The RatingDog China General Manufacturing PMI eased to 52.0 in October from 52.1, although it exceeded the 51.6 consensus and remained in expansion. The private survey contrasted with the official manufacturing PMI of 49.3, suggesting export-oriented firms remain relatively resilient while broader domestic activity, construction and business confidence continue to weaken.
Korean exports nearly double as AI demand
overwhelms calendar noise
South Korea's exports rose 93.7% YoY in
October to $115.28bn, slightly above the 93.2% consensus and faster than
September's 83.7%. Semiconductor shipments surged 259% and working-day-adjusted
exports rose 76%; imports increased 36% and the trade surplus narrowed to
$42.50bn from $49.97bn. Extra working days amplified the headline, but the
semiconductor and server impulse still signals powerful regional AI capex
demand with potential spillovers to Thai electronics and capital-goods trade.
Moderately bullish USD with elevated two-way volatility
The 10-year government bond yield (interpolated) on the previous trading day was 2.163 (+0.49bps). The benchmark government bond yield (LB365A) was 2.088, -0.02bps. Meantime, the latest closed US 10-year bond yields was 4.910 (-3.00bps). USDTHB on the previous trading day closed around 33.79, moving in the range 33.70 – 33.75 this morning. USDTHB could be closed between 33.65-33.85 today. The US dollar is likely to remain firm in the near term, supported by stronger ISM activity and persistent input-price pressure, but election uncertainty and conflicting PMI signals argue for volatility rather than a one-way appreciation trend.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
