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Golden Ten Data reported on July 6 that Thailand's overall inflation rate slowed for the second consecutive month in June, despite ongoing underlying price pressures, reinforcing the central bank's view that the recent rebound in prices is not sufficient to support an immediate rate hike. Data released by Thailand's Ministry of Commerce on Monday showed that the Consumer Price Index rose by 2.42% year-on-year in June, down from 2.79% in May and below the market's median expectation of 2.7%. The easing in overall inflation indicates that the inflationary impact of this year's oil price shock may have peaked in April, alleviating market concerns about entrenched inflationary pressures in Thailand arising from rising energy costs. Economists expect that inflation in the Philippines, with June data to be released on Tuesday, may also moderate. The Bank of Thailand has consistently argued that the rise in inflation is temporary and expressed its willingness to temporarily look past short-term price pressures to support economic growth.

Golden Ten Data, July 6 — UOB Kay Hian analysts stated that the Thai stock market is expected to benefit from improved economic prospects and remain optimistic about the market in July. The institution pointed out that the Bank of Thailand recently raised the 2026 GDP growth forecast from 1.5% to 2.3%. Inflation remains at a reasonable level, staying within the central bank’s 1%-3% target range. The current real negative interest rate environment is likely to direct funds from the government bond market into the stock market, offering investors opportunities for returns that outpace inflation.

From defending the 4,000 level to testing 4,200, gold is undergoing a test of “buyer identity”! Weak economic data provided the initial boost, but a further confirmation is needed to distinguish between a rebound and a reversal. At this point, which side—bulls or bears—has a greater chance of prevailing?