US Economic UpdateConsumer Sentiment and Retail Sales Housing Starts and Existing Home SalesEmpire Index and ISM Manufacturing • Demand Side – Michigan Consumer Confidence in Aug Michigan Consumer Confidence in Aug drop to 54.9 (Jul = 63.7) • Supply Side – E i M Empire Manu Index was weaken at ‐ I d k 7.72 (Jul = ‐3.76) • Housing Data – Housing Start in Jul dropped to 604K from 613K – Building Permit in Jul also decreased to g 597K from 617K.
Bullish of Safe Haven Dow Jones Index slid Swiss Franc 11,410 0.79 0.72 JPY JPY Gold Gold 1,810 76.58
Euro Zone Economic Update EU and Germany GDP EUR 1.437PIIGS 10 Yrs Bond Yields • Yield decreased because ECB bought EUR 22 Bil. bond in 2nd market. • On Tuesday, Franco – German summit caused investors disappointment – Didn’t mention about increasing the size of the euro‐zone fund to bail out. – It was too early to introduce euro‐zone bonds. • EU and Germany GDP Q2/2011 were weaker than expect at 0.2% and 0.1% qoq respectively. (Q1 expect at 0.2% and 0.1% qoq respectively. (Q1 = 0.8%, 1.5%)
Thai Economic Update Business Sentiment and Consumer Confidence• Both Consumer and Business sentiment index increased, ti ti d i d resulting from the peaceful transfer of power since the p July 3 elections. – Consumer confidence rose to 74.4, highest in 4 years. – Auto Sales rose up after Auto Sales rose up after Consumer Confidence and Car Sales Consumer Confidence and Car Sales Japan supply disruption
USD/THB Movement SET Net Foreign Purchase USD/THB • Thai baht trading has been relatively stable, especially in y , p y comparison with the big swings seen last week. Overnight there has been a O i ht th h b slight strengthening bias in line with broad dollar weakness.