- USDTHB: moving in the range 33.895-33.925 this morning supportive level at 33.85 resistance level at 34.10
- SET Index: 1,177.4 (-2.1%), 10 Mar 2025
- S&P 500 Index: 5,614.6 (-2.73%), 10 Mar 2025
- Thai 10-year government bond yield (interpolated): 2.184 (-0.74 bps), 10 Mar 2025
- US 10-year treasury yield: 4.22 (-10.0 bps), 10 Mar 2025
- German industrial production rises in sign of stabilization
- Japan's economic growth revised lower ahead of BOJ meeting
- Mark Carney wins Liberal leadership and will succeed Trudeau
- Thailand prepares $800 million cash handout to boost growth
- The US dollar gained slightly amid a quiet start to the week and risk-off sentiment
German industrial production rises in sign of stabilization
German industrial production rose 2% in January, signaling a possible end to the sector's extended downturn, driven mainly by car production. This came despite a report showing a slump in factory orders for the same month. Recent data, including an S&P Global survey, suggests the industrial recession that began in 2022 may be easing. The outlook for German factories has improved as Chancellor-in-waiting Friedrich Merz plans to strengthen the military and invest €500 billion in infrastructure.
Japan's economic growth revised lower ahead of BOJ meeting
Japan's economy grew at a slower rate in the last quarter of 2024 than initially reported, a development that could provide the Bank of Japan with more reason to maintain its current policy when officials meet next week. The final quarter's GDP increased at an annualized rate of 2.2%, below the preliminary estimate of 2.8%. This adjustment was driven by weaker-than-expected consumption and a larger-than-forecast decline in inventories. Economists had anticipated little change to the initial estimate.
Mark Carney wins Liberal leadership and will succeed Trudeau
Mark Carney won the race to become Canada’s next prime minister, taking charge amid economic threats from US President Trump. Carney, former governor of the Bank of Canada and the Bank of England, secured the Liberal Party leadership with 86% of the vote. The power transition from Trudeau to Carney is expected soon, with a potential national election to follow. Carney vowed to seek new trade partners, secure borders, and keep tariffs on the US until they show respect, using tariff proceeds to protect Canadian workers.
Thailand prepares $800 million cash handout to boost growth
Thailand’s government plans to boost growth beyond 3% this year by injecting 27 billion baht ($800 million) through the third phase of its cash handout plan. The funds will be distributed to 2.7 million Thais aged 16 to 20 via a new "digital wallet" app to encourage spending. This follows previous payouts of 145 billion baht to welfare cardholders and 30 billion baht to senior citizens.
The US dollar gained slightly amid a quiet start to the week and risk-off sentiment
The 10-year government bond yield (interpolated) on the previous trading day was 2.184, -0.74 bps. The benchmark government bond yield (LB353A) was 2.18, -1.0 bps. Meantime, the latest closed US 10-year bond yields was 4.22, -10.0 bps. USDTHB on the previous trading day closed around 33.78, moving in a range of 33.895 – 33.925 this morning. USDTHB could be closed between 33.85 – 34.10 today. The dollar saw a slight increase, with the index briefly rising above the 104.00 level as a risk-off sentiment drove safe-haven flows. However, further gains were limited due to a quiet economic calendar and the Fed being in a blackout period, while market participants awaited Wednesday's CPI report and the effective date of US steel and aluminum tariffs. The euro weakened slightly, facing some resistance after reports that Green party officials advised their lawmakers to oppose the spending bill. The Japanese yen gained strength as USD/JPY briefly dropped below the 147.00 level, driven by lower US yields and safe-haven demand.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
