Psalm 92:1-2 It is a good thing to give thanks unto the Lord, and to sing praises unto thy name, O most high: to shew forth thy lovingkindness in the morning and thy faithfulness every night.
Giving thanks and praise to the Lord is a good thing to do for all of us all the time, day and night. It is good for God, of course, but in particular it is a good thing for us: we feel better and good thoughts and good things come our way. We respond to God’s constant lovingkindness (chesed, faithful love and mercy), and to His faithfulness (never-failing kindness and sure promises) by daily and nightly telling forth how good God is. He doesn’t need to know that, but we need to confess it.
Since God is good all the time and He never fails, our whole life, day and night, is spent giving thanks and praise to a good and great God. We can always thank the Father for giving us His Son for our life and salvation. We weekly praise God in public and daily praise Him in private.