- USDTHB: moving in the range 33.47 – 33.48 this morning, supportive level at 33.35 resistance level at 33.65
- SET Index: 1,498.0 (-0.27%), 5 Nov 2026
- S&P 500 Index: 7,353.7 (-4.45%), 5 Nov 2026
- Thai 10-year government bond yield (interpolated): 2.08 (-6.05 bps), 5 Nov 2026
- US 10-year treasury yield: 4.84 (-6.00 bps), 5 Nov 2026
- U.S. jobless claims pointed to a still-resilient labor market
- Europe PPI rose sharply in September, largely reflecting surge in energy prices
- Eurozone construction activity deteriorated further in October
- BoE raised its policy rate for the first time since August 2023
- Malaysia held the rate steady, citing resilient growth and contained inflation
- Dollar broadly flat; lower U.S. Treasuries yield
U.S. jobless claims pointed to a still-resilient labor market
U.S. initial jobless claims fell to 189K in the week ending October 31, below market expectations of 196K and down from the previous week’s revised 195K. Claims have remained mostly below 200K since mid-September and marked a 57-year-low level. The four-week moving average also declined to 194.75K from 197K, reinforcing signs that layoffs remain limited. Meanwhile, continuing claims rose by 23K to 1.718M, suggesting that unemployed workers are taking longer to find new jobs.
Europe PPI rose sharply in September, largely reflecting surge in energy prices
Euro area industrial producer prices index (PPI) surged 11.1%y/y in September 2026, while prices across the EU rose 10.9%y/y. On a monthly basis, producer prices increased by 2.5% in the euro area and 2.6% in the EU, accelerating from gains of 2.0% and 1.9%, respectively, in August. The sharp annual increase was largely driven by energy prices, which jumped 30.8% in the euro area, followed by intermediate goods at 7.1%. Excluding energy, producer prices rose a more moderate 3.5%, highlighting the dominant contribution from energy costs.
Eurozone construction activity deteriorated further in October
The S&P Global Eurozone Construction PMI Index fell to 42.5 in October from 43.4 in last month, marking the steepest decline in output since April. The downturn remained broad-based across residential, commercial and civil engineering activity, while new orders contracted at the fastest pace in six months. Construction activity weakened across Germany, France and Italy, with France recording the sharpest decline. Meanwhile, cost pressures intensified to a five-month high and business sentiment remained among the weakest seen over the past two years.
BoE raised its policy rate for the first time since August 2023
The Bank of England (BoE) raised its policy rate by 25 bps to 4.0%, marking its first-rate hike since August 2023. Eight of the nine Monetary Policy Committee members supported the move, while one preferred a larger 50-bps increase to 4.25%. The BoE cited renewed inflationary pressures stemming from the prolonged conflict in the Middle East, which has pushed global energy prices higher. UK CPI inflation rose to 3.5% in September and is projected to climb to around 5% by mid-2027 before easing as the impact of higher energy prices fades and restrictive monetary policy weighs on inflation.
Malaysia held the rate steady, citing resilient growth and contained inflation
Bank Negara Malaysia (BNM) kept its policy rate unchanged at 2.75% in the last meeting of 2026, citing the current stance appropriate amid resilient growth and contained inflation. The economy expanded 5.3%y/y in Q3/2026, supported by strong electronics exports and AI-related demand, while inflation remained below 2%. BNM expects growth to exceed 5% in 2026 and remain resilient in 2027, although geopolitical tensions, elevated commodity prices and weather-related risks could add to inflationary pressures.
Dollar broadly flat; lower U.S. Treasuries yield
The 10-year government bond yield (interpolated) on the previous trading day was 2.08, -6.05 bps. The benchmark government bond yield (LB365A) was 2.00, -6.00 bps. Meantime, the latest closed US 10-year bond yields was 4.84, -6.00 bps. USDTHB on the previous trading day closed around 33.40 Moving in a range of 33.47-33.48 this morning. USDTHB could be closed between 33.35-33.65 today. Despite a firm U.S. job market data last night, the U.S. dollar was broadly flat, as a sharp Wall Street sell-off dominated market sentiment. Fears of tighter AI regulation following the Democrats’ decisive midterm victory weighed heavily on technology stocks, driving safe-haven demand for U.S. Treasuries, which held close to their lowest levels in two months. Looking ahead, all eyes are now on Friday’s nonfarm payrolls tonight, which will likely factor into the Fed’s plans for interest rates, with market pricing for a Fed rate hike eased to around 66%.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
