- USDTHB: moving in the range 35.92-35.955 this morning supportive level at 35.80 resistance level at 36.10
· SET Index: 1,386.0 (-0.64%), 15 Mar 2024
· S&P 500 Index: 5,117.1 (-0.65%), 15 Mar 2024
· Thai 10-year government bond yield (interpolated): 2.53 (+1.60 bps), 15 Mar 2024
· US 10-year treasury yield: 4.31 (+2.00 bps), 15 Mar 2024
- US consumer sentiment, inflation expectations stable in March
- Chinese industrial production surges in Jan-Feb, but unemployment rises
- China's Jan-Feb property investment declines narrow
- US dollar poised for biggest weekly gain since mid-January; yen falls ahead of BOJ
US consumer sentiment, inflation expectations stable in March US consumer sentiment and inflation expectations were little changed in March. The University of Michigan's preliminary reading on the overall index of consumer sentiment came in at 76.5 this month, compared to a final reading of 76.9 in February. Economists polled by Reuters had forecast a preliminary reading of 76.9. "Consumers perceived few signals that the economy is currently improving or deteriorating," said Surveys of Consumers Director in a statement. "Indeed, many are withholding judgment about the trajectory of the economy, particularly in the long term, pending the results of this November's election.“ The survey's reading of one-year inflation expectations were unchanged at 3.0% in March. The survey's five-year inflation outlook held steady at 2.9% for the fourth straight month.
Chinese industrial production surges in Jan-Feb, but unemployment rises Chinese industrial production grew more than expected in the first two months of 2024, as manufacturing output continued to benefit from supportive policies and monetary stimulus from the government. But an unexpected increase in unemployment and weaker-than-expected retail sales data showed large swathes of the Chinese economy still remained under pressure. Industrial production rose 7% year-on-year in the January-February period, data from the National Bureau of Statistics showed. The reading was higher than expectations of 5.3% and accelerated from the 6.8% rise seen in December. Chinese manufacturers continued to ramp up production amid increased government subsidies and stimulus injections.
China's Jan-Feb property investment declines narrow China's fragile housing market opened this year with slower declines in property investment and sales, buoyed by government efforts to arrest a protracted downturn in the sector, official data showed. Property investment in China fell 9.0% year-on-year in the first two months of 2024, compared with a 24.0% fall in December 2023, National Bureau of Statistics (NBS) data showed. Property sales by floor area logged a 20.5% slide in January-February from a year earlier, compared with a 23.0% fall in December last year. Official property figures released last week showed the sector struggling to stabilize with home prices down 0.3% on a month-on-month basis in February, in line with a drop in January.
US dollar poised for biggest weekly gain since mid-January; yen falls ahead of BOJ The 10-year government bond yield (interpolated) on the previous trading day was 2.53, +1.60 bps. The benchmark government bond yield (LB31DA) was 2.52, +1.5 bps. Meantime, the latest closed US 10-year bond yields was 4.31, +2.00 bps. USDTHB on the previous trading day closed around 35.81 Moving in a range of 35.92-35.955 this morning. USDTHB could be closed between 35.80-36.10 today. The dollar rose to a more than one-week high on Friday after a mixed batch of data showed the US economy remained stable with small pockets of weakness, suggesting the Federal Reserve could keep interest rates higher for longer or reduce the planned number of rate cuts this year. The dollar index, which tracks the US currency against six major peers, was on pace to post a weekly gain of 0.7%, the largest since mid-January. The index was last flat at 103.43. Data on Friday showed a solid US manufacturing sector, with output rebounding by 0.8% last month after a downwardly revised 1.1% decline in the prior month. Analysts at Citi, however, said in a research note that the rebound in February partly reflects the revisions lower to January output and the reversal of a "weather-related drag in January in non-durable goods manufacturing sectors.“
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
