- USDTHB: moving in the range 32.82-32.91 this morning supportive level at 32.80 resistance level at 33.05
- SET Index: 1,067.6 (-0.1%), 20 June 2025
- S&P 500 Index: 5,967.8 (-0.22%), 20 June 2025
- Thai 10-year government bond yield (interpolated): 1.673 (+0.36 bps), 20 June 2025
- US 10-year treasury yield: 4.38 (+0.0 bps), 20 June 2025
- US hits Iran nuclear sites, escalating conflict
- Waller signals potential Fed rate cut in July
- Philadelphia Fed manufacturing index remains in negative zone
- UK retail sales see biggest monthly fall since 2023
- China holds loan prime rate steady in June
- US Dollar holds steady on Friday
US hits Iran nuclear sites, escalating conflict
US bombers hit Iran’s three main nuclear facilities, drawing America directly into the conflict between Tehran and Israel. President Trump declared the sites were “completely and totally obliterated” and warned of further military action unless Iran pursues peace with Israel. Meanwhile, the Iranian parliament has passed a measure to close the Strait of Hormuz following US attacks on the country’s nuclear sites. The final decision on implementing the plan will be made by Iran’s security council.
Waller signals potential Fed rate cut in July
Federal Reserve Governor Christopher Waller signaled the Fed could begin cutting interest rates as early as next month, noting that recent data show GDP and inflation near target levels. He estimates the current policy rate is 1.25 to 1.5 percentage points above the neutral rate and believes the Fed has room to ease, while remaining flexible in case of shocks. In contrast, officials like San Francisco Fed President Mary Daly and Richmond Fed President Tom Barkin urged caution, pointing to the need for more data and potential inflation risks from new tariffs.
Philadelphia Fed manufacturing index remains in negative zone
The Philly Fed index held steady at -4 in June, missing expectations for an improvement to -1. Employment dropped sharply to -9.8 from +16.5, the lowest since May 2020. Prices Paid fell to 41.4 from 59.8, signaling easing inflation.
UK retail sales see biggest monthly fall since 2023
UK retail sales fell 2.7 percent in May, marking the sharpest decline since December 2023 and wiping out gains from the previous four months. The drop was driven by a 5 percent fall in food sales, a 2.5 percent decline in household goods, and a 1.8 percent decrease in clothing and footwear.
China holds loan prime rate steady in June
The People’s Bank of China held its benchmark loan prime rates steady, as easing tensions in the U.S.-China tariff dispute reduced pressure for further stimulus. The one-year LPR stayed at 3%, and the five-year at 3.5%—both at record lows following years of monetary easing aimed at curbing deflation and boosting domestic demand.
US Dollar holds steady on Friday
The 10-year government bond yield (interpolated) on the previous trading day was 1.673, +0.36 bps. The benchmark government bond yield (LB353A) was 1.683, +0.33 bps. Meantime, the latest closed US 10-year bond yields was 4.38, +0.0 bps. USDTHB on the previous trading day closed around 32.81, moving in a range of 32.82 – 32.91 this morning. USDTHB could be closed between 32.80 – 33.05 today. The dollar ended the day flat but gained over the week, driven mainly by Middle East tensions despite Wednesday’s FOMC meeting. On Friday, the Philly Fed report disappointed, and Fed’s dove Waller made notable comments that had little market impact. The dollar index traded between 98.54 and 98.90. Meanwhile, most G10 currencies lost ground against the dollar, with the yen underperforming, while the euro was the standout gainer and the pound remained flat.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
