The baht and Asian currency exchange rates will “stabilize” today if the stock market rises along the US side. The Asian currency has returned to depreciation along with the dollar’s rebound in this period.
The baht exchange rate opened this morning at 30.09 baht per dollar. Depreciated from the close of the business day before 30.050 baht per dollar Estimated Thai Baht during the day 29.97-30.17 baht per dollar
Dr. Jitipon Pruksa Metanan Chief Investment Strategy Team, EASY INVEST, SCB Securities (SCBS) indicated that financial markets entered a risk-on mode last night, the US S&P 500 rose 1.09%, driven by technology stocks and a recovering economic outlook. Recently, the new US Initial Jobless Claims subsidized to 7.79 lakh positions, leading the market to believe today’s employment figures report would be another positive force.
Meanwhile, the European STOXX 600 index closed 0.62% higher on support from the German and French stock markets All of which pressured the VIX Index to return to 21.7, the lowest point in two weeks.
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The photo sent the US ten-year Bond Yale to a 1.14% gain, the highest in three weeks. The difference between the thirties and the five-year-olds widened to 148bps, the highest since 2015. The Dollar Index was 0.4% higher than the major currencies. The market is of the view that investing in the US with both technology And the economic stimulus is more attractive than all over the world Only the British pound (GBP) strengthened after the central bank (BOE) “stabilized” the policy rate of 0.10%, and signaled that negative interest rates would not be implemented in the future.
On the exchange rate, the baht weakened along with the Asian currency following the recovery of the dollar during this period. The dollar is believed to have a strong chance of further appreciation if the US stock market is able to reach new highs. And most investors should be keeping an eye on the US labor market report tonight.
Kasikorn Research Center stated that the baht exchange rate this morning (February 5) moved “depreciates” to the range of approximately 30.09-30.11 baht per dollar. While the dollar Driven by US labor market data That came out better than expected The number of weekly jobless claims dropped to 779,000 in the last week. This is the lowest level in more than two months and marks the third consecutive week of decline. Which signals the economy from the US side Which came out positive in this period This is a factor supporting the US Treasury yield hike. And the direction of the dollar
The movement of the baht today is expected at 29.90-30.15 baht per dollar. While the key factor to be monitored will be the numbers of non-agricultural employment. And unemployment rate in January And signals about US economic stimulus measures
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