- USDTHB: moving in the range 33.74-33.77 this morning supportive level at 33.65 resistance level at 33.85
- SET Index: 1,187.6 (+0.9%), 11 Mar 2025
- S&P 500 Index: 5,572.1 (-0.76%), 11 Mar 2025
- Thai 10-year government bond yield (interpolated): 2.151 (-3.36 bps), 11 Mar 2025
- US 10-year treasury yield: 4.28 (+6.0 bps), 11 Mar 2025
- Trump threatened a 50% tariff on Canadian steel but backed down
- US job openings and quits rise in sign of resilient labor market
- US small-business optimism retreats as more shift to price hikes
- Ukraine accepts US ceasefire plan for aid
- US dollar falls on tariff fears; euro gains on defense deal hopes
Trump threatened a 50% tariff on Canadian steel but backed down
After Ontario imposed a 25% tariff on electricity exports to the US, President Trump threatened a 50% tariff on Canadian steel and aluminum. Ontario later withdrew the surcharge, and Trump suggested he might ease the retaliation. White House Trade Adviser Navarro confirmed the 50% tariffs won't take effect, while the 25% tariffs on steel and aluminum are still set to take effect on Wednesday.
US job openings and quits rise in sign of resilient labor market
US JOLTS job openings for January reached 7.74 million, above the expected 7.63 million and up from 7.508 million in December. Growth was driven by financial, retail, and construction sectors. Despite a downward trend in recent years, job openings remain above pre-pandemic levels. The quit rate rose to 2.1%, and the vacancy rate increased to 4.6%. Federal government job postings fell by 3,000 to 135,000, despite a hiring freeze.
US small-business optimism retreats as more shift to price hikes
US small-business optimism fell to a four-month low in February, with uncertainty rising due to concerns over tariffs. The NFIB optimism index dropped 2.1 points to 100.7, as seven of its 10 components weakened. The economic outlook saw its steepest decline since March 2022, and fewer owners saw it as a good time to expand. Capital spending plans hit a five-year low. While many businesses paused investment to assess Trump administration policies, the proportion of firms raising prices increased the most since April 2021, with the largest share in nearly a year planning to raise prices in the months ahead.
Ukraine accepts US ceasefire plan for aid
Ukraine accepted a US proposal for a 30-day truce with Russia, part of a deal to lift the freeze on military aid. The agreement follows talks in Saudi Arabia and will be presented to Putin for approval. Trump said US officials will discuss it with Russia on Wednesday, and he may speak to Putin this week.
US dollar falls on tariff fears; euro gains on defense deal hopes
The 10-year government bond yield (interpolated) on the previous trading day was 2.151, -3.36 bps. The benchmark government bond yield (LB353A) was 2.15, -3.0 bps. Meantime, the latest closed US 10-year bond yields was 4.28, +6.0 bps. USDTHB on the previous trading day closed around 33.89, moving in a range of 33.74 – 33.77 this morning. USDTHB could be closed between 33.65 – 33.85 today. The dollar faced pressure as euro strength, increasing trade tensions, and economic concerns weighed on it. Attention has now turned to the upcoming US CPI data on Wednesday. The euro strengthened and regained the 1.0900 level after Germany's Green party co-leader expressed optimism about a defense deal this week. Meanwhile, reports of Portugal's government collapsing due to a no-confidence vote had little impact on the single currency. The Japanese yen was volatile but ended up underperforming against the dollar due to rising US yields.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
