Thailand’s SET Index closed at 1,332.04 points, increased 2.67 points or 0.20% with a trading value of 37.58 billion baht. The analyst stated that the Thai stock market traded narrowly with low volume as there were no supporting factors.
The analyst expected the market to trade within the range of 1,310 to 1,345 next week.
In June 2024, the monthly inflation rate in the United States decreased for the first time in over four years. This development is expected to give the Federal Reserve more leeway to consider reducing interest rates later in the year.
The Labor Department revealed that the consumer price index, which measures the costs of goods and services across the U.S. economy, fell by 0.1% from May, resulting in a 3% 12-month rate, the lowest level in more than three years. Notably, this decrease marks the first instance of a drop in the monthly rate since May 2020.
Excluding the volatile food and energy costs, the core CPI rose by 0.1% monthly and 3.3% year-on-year, slightly below the projected increases of 0.2% and 3.4%, as reported by the Bureau of Labor Statistics. The annual upsurge in the core rate is the smallest recorded since April 2021.
China experienced a 2.3% decrease in imports in June compared to the same period last year in U.S. dollar terms, missing the expected 2.8% growth as per a Reuters poll.
On the other hand, U.S. dollar-denominated exports saw an 8.6% increase year on year, surpassing the Reuters poll’s forecast of 8% growth.
