Kasikorn Bank Expect the baht next week to fluctuate within the range of 35.00-35.80 baht per dollar. Keep an eye on Thai export numbers
Kasikorn Bank (KBANK) views the movement of the baht next week (22-26 Jan.) at the level of 35.00-35.80 baht per dollar. Meanwhile, the Kasikorn Research Center assesses important factors that need to be monitored, including: December export figures from Thailand Foreign capital signals, results of the BOJ and ECB meetings, and the Chinese central bank’s LPR interest rate setting.
Meanwhile, important US economic figures include orders for durable goods. New home sales Home sales pending closing Personal income/expenses and the price index for general and basic personal consumption expenditures (PCE/Core PCE Price Indices) in December, 4Q23 GDP numbers (1st time) and the number of people applying for weekly unemployment benefits. In addition, the market is also waiting to follow the PMI index (preliminary) for January in Japan, the Eurozone, England and the United States as well.
in the past week The baht continues to depreciate It recorded the weakest value in more than 1 month at 35.71 baht per dollar. during the week The baht briefly strengthened at the beginning of the week, supported by an increase in gold prices in the world market. In addition, there is still no signal of a change in monetary policy guidelines from the BoT.
However, the baht turned to weaken during the rest of the week. After there was a signal that The government’s economic stimulus measures may be delayed while the dollar gradually strengthens following the increase in US bond yields. This is consistent with the market gradually reducing the possibility of seeing the Fed cut interest rates at its March meeting.
In addition, the depreciation of the baht was also consistent with net selling pressure on Thai stocks and bonds by foreign investors. However, the baht lost its weakening period and partially bounced back at the end of the week following the direction of the currency. Asia as a whole
Read more news
Follow us at
SHAREFOLLOW US
2024-01-21 02:56:11
#Kasikorn #Bank #expects #baht #week #fluctuate #range #35.0035.80 #baht #dollar
