2. US Economic Update
Consumer Sentiment and Retail Sales Housing Starts and Existing Home Sales
Empire 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.
5. Euro Zone Economic Update
EU and Germany GDP EUR
1.437
PIIGS 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%)
6. 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
8. 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.