- USDTHB: moving in the range 32.505-32.52 this morning supportive level at 32.40 resistance level at 32.70
- SET Index: 1,107.7 (+0.7%), 25 June 2025
- S&P 500 Index: 6,092.2 (-0.00%), 25 June 2025
- Thai 10-year government bond yield (interpolated): 1.658 (-1.76 bps), 25 June 2025
- US 10-year treasury yield: 4.29 (-1.0 bps), 25 June 2025
- Trump eyes 3-4 candidates to replace Fed’s Powell
- New home sales miss forecasts, signal slowdown
- Europe wins over Trump on defense with NATO spending boost
- Thailand holds rate at 1.75% and lifts 2025 growth forecast
- Dollar struggles to regain footing
Trump eyes 3-4 candidates to replace Fed’s Powell
President Donald Trump stated that he is considering three or four candidates to replace Federal Reserve Chair Jerome Powell when his term concludes next year. He did not disclose any names or provide a timeline for making the decision. Powell’s term ends in May 2026.
New home sales miss forecasts, signal slowdown
New home sales dropped to 623k in May from 722k, below the expected 693k. The supply of homes rose to 9.8 months’ worth at the end of May, up from 8.3. According to analysts, while builder incentives may have limited a sharper decline, they don’t expect a rebound in sales due to projected high mortgage rates and a weakening labor market. They say May’s weak sales and prior downward revisions support their outlook.
Europe wins over Trump on defense with NATO spending boost
NATO leaders agreed to boost defense spending to 5% of GDP and reaffirmed their commitment to mutual security amid rising Russian aggression. The move is a win for Trump and NATO chief Rutte, with Germany pledging to build Europe’s strongest military. However, countries like Spain and Slovakia raised concerns about meeting the target.
Thailand holds rate at 1.75% and lifts 2025 growth forecast
The Bank of Thailand held its key rate at 1.75% in a 6-1 vote after unexpectedly raising its 2025 growth forecast to 2.3% from a previous range of 1.3%–2%. The upgrade reflects stronger exports and manufacturing, as firms rushed shipments ahead of US tariffs. Policymakers aim to preserve flexibility amid global risks. The central bank also noted that, barring any major external shocks, 2024 growth is likely to stay above 2%, while expansion in 2026 is expected to slow to 1.7%.
Dollar struggles to regain footing
The 10-year government bond yield (interpolated) on the previous trading day was 1.658, -1.76 bps. The benchmark government bond yield (LB353A) was 1.666, -1.94 bps. Meantime, the latest closed US 10-year bond yields was 4.29, -1.0 bps. USDTHB on the previous trading day closed around 32.61, moving in a range of 32.505 – 32.52 this morning. USDTHB could be closed between 32.40 – 32.70 today. The Dollar Index fell for the third straight day, weakening against most major currencies. While most G10 currencies strengthened versus the dollar, the Japanese yen weakened to different extents. The yen underperformed, losing some of its gains from Tuesday as USD/JPY rose from a low of 144.62 to a high of 145.94.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
