- USDTHB: moving in the range 34.35-34.385 this morning supportive level at 34.00 resistance level at 34.50
- SET Index: 1,467.4 (-0.97%), 6 Nov 2024
- S&P 500 Index: 5,929.0 (+2.50%), 6 Nov 2024
- Thai 10-year government bond yield (interpolated): 2.452 (+1.89 bps), 6 Nov 2024
- US 10-year treasury yield: 4.42 (+16.0 bps), 6 Nov 2024
- Trump claims US Presidential victory in remarkable comeback
- Australia trade balance hits 4-year low in September amid China weakness
- Thai inflation stays below central bank target for fifth month
- Malaysia central bank keeps key rate at 3.00% at final policy meeting of year
- Dollar surges, euro plummets as Trump wins the US presidency
Trump claims US Presidential victory in remarkable comeback
Trump and the Republicans exceeded expectations, with Trump securing 292 electoral votes, well above the 270 needed, and the GOP taking control of the Senate with 52 seats. While the House remains undecided, a Republican win looks likely. A GOP sweep is seen as the most inflationary outcome, allowing Trump’s policies—like tax cuts, tariffs, and increased spending—to face little resistance. However, moderate Republicans may still influence outcomes, especially given the narrow Senate majority and the tight House race.
Australia trade balance hits 4-year low in September amid China weakness
Australia's trade surplus shrank to A$4.61 billion in September, its lowest in four years, as demand for key exports like metals and minerals weakened, particularly from China. This was below the expected A$5.24 billion surplus and down from A$5.64 billion in August. Exports fell 4.3% month-on-month, driven by declines in metal ores, coal, and mineral fuels. Weak demand from China, Australia's largest trading partner, was a major factor.
Thai inflation stays below central bank target for fifth month
Thailand's inflation stayed below the central bank's target for the fifth month in October, increasing pressure on the Bank of Thailand (BOT) to continue rate cuts. The consumer price index (CPI) rose 0.83%, below the expected 0.9%, and has been under the BOT’s 1-3% target range since May. Core inflation remained steady at 0.8%. With inflation averaging just 0.26% over the first 10 months, the BOT expects it to reach the lower end of its target range by year-end.
Malaysia central bank keeps key rate at 3.00% at final policy meeting of year
Malaysia's central bank kept its benchmark interest rate at 3%, as expected, citing positive economic growth and steady inflation. BNM noted strong domestic spending and higher exports supporting economic activity, with inflation averaging 1.8% year-to-date. Inflation is expected to remain manageable in 2025, due to easing global costs and limited domestic demand pressures, though the bank cautioned that government policies could affect the outlook.
Dollar surges, euro plummets as Trump wins the US presidency
The 10-year government bond yield (interpolated) on the previous trading day was 2.452, +1.89 bps. The benchmark government bond yield (LB346A) was 2.43, +0.00 bps. Meantime, the latest closed US 10-year bond yields was 4.42, +16.0 bps. USDTHB on the previous trading day closed around 34.02, moving in a range of 34.35 – 34.385 this morning. USDTHB could be closed between 34.00 – 34.50 today. The dollar surged to its biggest gain since March 2020 on Wednesday after Trump won the 2024 presidency and Republicans gained control of the Senate. The House is also expected to remain Republican, fueling expectations of inflationary policies from Trump, such as tax cuts and tariffs. This lifted the dollar index above 105.00, with attention now on the upcoming FOMC decision. The euro struggled under the dollar's strength and concerns about Trump's policies, while the Japanese yen weakened, with USD/JPY hitting the 154.00 level amid rising US yields and inflationary expectations.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
