- USDTHB: moving in the range 32.72-32.795 this morning supportive level at 32.70 resistance level at 33.00
- SET Index: 1,062.8 (-0.5%), 23 June 2025
- S&P 500 Index: 6,025.2 (+0.96%), 23 June 2025
- Thai 10-year government bond yield (interpolated): 1.686 (+1.28 bps), 23 June 2025
- US 10-year treasury yield: 4.34 (-4.0 bps), 23 June 2025
- Trump announces tentative ceasefire between Israel and Iran
- Fed's Bowman open to cutting rates at July policy meeting
- US PMI slips slightly on softer services
- Euro zone PMI stalls in June with sluggish services, manufacturing
- UK PMI sees fastest growth since Trump tariffs
- Dollar softens as markets weigh US-Iran tensions and Fed rate outlook
Trump announces tentative ceasefire between Israel and Iran
President Trump announced a “complete and total” ceasefire between Israel and Iran, easing fears of a broader conflict. Iran confirmed it accepted the US-brokered deal after launching missiles at a US base in Qatar, which had been evacuated and saw no damage. The strike was seen as a symbolic step toward de-escalation.
Fed's Bowman open to cutting rates at July policy meeting
Fed Governor Bowman struck a dovish tone, echoing fellow dove Waller, and signaling a growing divide within the FOMC. She said she’s open to a rate cut as early as July if inflation remains contained, urging more focus on labor market risks. Bowman also downplayed the inflation impact of trade policy, noting minimal effects from recent shifts. She’s now the second Fed Governor suggesting a July cut.
US PMI slips slightly on softer services
The US composite PMI edged down to 52.8 from 53.0, mainly due to a decline in services activity, though still slightly above expectations. Manufacturing held steady at 52.0, beating forecasts of 51.0. The June flash data signals continued economic growth, but with rising uncertainty and surging inflation pressures over the past two months. The report attributes some demand strength to inventory stockpiling, warning this may reverse soon.
Euro zone PMI stalls in June with sluggish services, manufacturing
Eurozone private sector growth stalled in June, with composite PMI at 50.2, below expectations. Services reached 50, but manufacturing stayed in contraction at 49.4 for the 36th month. Germany rebounded slightly, while France remained weak.
UK PMI sees fastest growth since Trump tariffs
UK private sector growth picked up slightly in June, with the composite PMI rising to 50.7 from 50.3, easing recession fears. Inflation pressures hit a three-month low, and new orders rose for the first time in six months. Modest services growth helped offset a sharp manufacturing decline.
Dollar softens as markets weigh US-Iran tensions and Fed rate outlook
The 10-year government bond yield (interpolated) on the previous trading day was 1.686, +1.28 bps. The benchmark government bond yield (LB353A) was 1.699, +1.56 bps. Meantime, the latest closed US 10-year bond yields was 4.34, -4.0 bps. USDTHB on the previous trading day closed around 32.99, moving in a range of 32.72 – 32.795 this morning. USDTHB could be closed between 32.70 – 33.00 today. The US dollar weakened into the weekend, pressured by fading geopolitical risk and dovish remarks from Fed’s Bowman. Safe-haven currencies showed a mixed performance, with the Swiss franc outperforming the yen, bringing USD/CHF to around 0.8120. Meanwhile, USD/JPY held steady compared to other pairs, staying slightly above 146 and below earlier highs of 148.02. Meanwhile, the euro strengthened, supported by their greater energy dependence. After EUR/USD failed to break below its 21-day moving average of 1.1446, it rebounded and entered APAC trade near session highs around 1.1577.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
