- USDTHB: moving in the range 33.775-33.795 this morning supportive level at 33.60 resistance level at 33.90
- SET Index: 1,463.0 (-0.08%), 4 Nov 2024
- S&P 500 Index: 5,712.7 (-0.28%), 4 Nov 2024
- Thai 10-year government bond yield (interpolated): 2.442 (+0.15 bps), 4 Nov 2024
- US 10-year treasury yield: 4.31 (-6.00 bps), 4 Nov 2024
- U.S. factory orders drop for the second month in a row in September
- Eurozone manufacturing slump stabilizes in October
- Eurozone Sentix investor confidence index increases slightly
- South Korea’s inflation cools to slowest pace since 2021
- Thailand delays central bank chair selection to next week
- The dollar fell as traders unwound "Trump trades" before the election
U.S. factory orders drop for the second month in a row in September
U.S. factory orders fell 0.5% in September, marking a second consecutive monthly decline, following a revised 0.8% drop in August. Economists had forecast a 0.5% decrease. Orders were flat year-over-year. Meanwhile, orders for non-defense capital goods excluding aircraft, a key indicator of business investment, rose 0.7% in September, up from the initially reported 0.5%.
Eurozone manufacturing slump stabilizes in October
In October, the manufacturing sector in the Eurozone displayed some signs of stabilization. Although activity contracted for the 28th consecutive month, the decline was less severe. HCOB's final Eurozone manufacturing PMI increased to 46.0 in October, surpassing the preliminary estimate of 45.9 but remaining below the neutral 50 mark. Additionally, an output index, which is a strong indicator of economic health and contributes to the composite PMI, rose to 45.8 from 44.9 in September, exceeding the flash estimate of 45.5.
Eurozone Sentix investor confidence index increases slightly
Investor sentiment in the euro zone improved for the second month in November, though slightly below expectations. The Sentix index rose to -12.8 from -13.8 in October. The current situation score improved to -21.5 from -23.3. In Germany, sentiment rose for the second consecutive month, with the index climbing to -29.8 from -31.5 in October.
South Korea’s inflation cools to slowest pace since 2021
South Korea's inflation slowed more than expected, rising 1.3% in October, its lowest since early 2021. This gives the central bank room to ease policy further if economic growth weakens. The monthly index was flat, weaker than the forecasted 0.2% increase.
Thailand delays central bank chair selection to next week
The Bank of Thailand (BOT) announced a one-week delay in selecting its board chairman. Concerns over political interference have been raised, especially with the nomination of former finance minister Kittirat na Ranong, a critic of the current BOT governor. The seven-member panel will reconvene on November 11 to make its decision, which requires approval from the finance minister, cabinet, and the king.
The dollar fell as traders unwound "Trump trades" before the election
The 10-year government bond yield (interpolated) on the previous trading day was 2.442, +0.15 bps. The benchmark government bond yield (LB346A) was 2.425, +0.5 bps. Meantime, the latest closed US 10-year bond yields was 4.31, -6.0 bps. USDTHB on the previous trading day closed around 33.79, moving in a range of 33.775 – 33.795 this morning. USDTHB could be closed between 33.60 – 33.90 today. The dollar weakened as the "Trump trade" unwound following a weekend of US election polling that showed Harris gaining momentum, leading markets to scale back their bets on the former President's victory. The euro initially benefited from the dollar's weakness but later gave up some gains after failing to hold above the 1.0900 mark. Meanwhile, The Japanese yen strengthened as Treasury yields fell, driven by a reduced likelihood of a Trump victory.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
