- USDTHB: moving in the range 33.24-33.295 this morning supportive level at 33.10 resistance level at 33.40
- SET Index: 1,214.4 (+0.3%), 13 May 2025
- S&P 500 Index: 5,886.6 (+0.7%), 13 May 2025
- Thai 10-year government bond yield (interpolated): 1.885 (+3.28 bps), 13 May 2025
- US 10-year treasury yield: 4.49 (+4.0 bps), 13 May 2025
- Inflation slowed more than expected in April
- German investor sentiment jumps in May
- BOJ eyes hikes, cites trade uncertainty
- China ends Boeing ban after US trade deal
- Dollar slips slightly from highs
Inflation slowed more than expected in April
The April inflation data came in cooler than expected, with both core and headline monthly CPI rising 0.2% (vs. 0.3% forecast), and headline year-over-year inflation easing to 2.3%, below the expected 2.4%. Core Y/Y inflation remained steady at 2.8%, matching March’s reading. The CPI report reveals two key trends: goods hit by higher tariffs, like cars and apparel, haven’t seen expected price rises—likely because retailers are absorbing costs or selling pre-tariff stock. Meanwhile, softer prices in services like travel suggest consumers are cutting back on discretionary spending. The report is unlikely to prompt immediate Fed action, as policymakers are expected to maintain a cautious, wait-and-see stance—particularly with uncertainty surrounding the inflation impact of recent tariffs.
German investor sentiment jumps in May
German investor sentiment rebounded sharply in May, with the ZEW economic sentiment index rising to 25.2 from -14.0, well above the 11.9 forecast. However, the current conditions index slipped slightly to -82.0 from -81.2.
BOJ eyes hikes, cites trade uncertainty
The BoJ’s April 30–May 1 Summary showed mixed views, with some members supporting further rate hikes amid economic gains, while others urged caution due to high uncertainty, especially around U.S. trade policy. A temporary pause was seen as likely, but members emphasized the need for flexible and data-driven policy.
China ends Boeing ban after US trade deal
China has lifted its month-long ban on airline deliveries of Boeing aircraft, following progress in trade negotiations with the US. This move provides an immediate boost to Boeing, with about 50 jets expected to be delivered to China this year. Meanwhile, a White House Executive Order announced a reduction in the minimum tariff on Chinese imports from 120% to 54%, while maintaining a flat fee of USD 100.
Dollar slips slightly from highs
The 10-year government bond yield (interpolated) on the previous trading day was 1.885, +3.28 bps. The benchmark government bond yield (LB353A) was 1.880, +3.39 bps. Meantime, the latest closed US 10-year bond yields was 4.49, +4.0 bps. USDTHB on the previous trading day closed around 33.31, moving in a range of 33.24 – 33.295 this morning. USDTHB could be closed between 33.10 – 33.40 today. The dollar pared much of Monday’s trade-driven gains, with the index falling below 101.00, pressured by weaker-than-expected US CPI data. The euro gained as the dollar weakened, nearing the 1.1200 mark, with minimal market response to recent ECB comments and German ZEW data. The Japanese yen strengthened against the dollar, pushing USD/JPY below 148.00, though it lost ground against other major currencies as improved risk appetite led to reduced demand for safe havens.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
