Baht market conditions: Closed at 34.07, depreciated by region. Expected tomorrow

Money manager fromBank of Ayudhya show that bahtThe market closed tonight at 34.07 baht / dollar, weakening from the morning the market opened at 33.99 baht / dollar.

During the day, the baht moved in the range of 34.01-34.12 baht / dollar, with the baht starting to depreciate according to other currencies in the region and despite the report on Thai export figures in July. an expansion as high as 15% did not have much effect on the baht as imports have also risen higher This led Thailand to return to a trade deficit again in July.

“Exports have little effect on the baht. Because although exports can expand significantly But imports are also high, forcing Thailand to return to a trade deficit again,” said the financial manager.

Tonight, the market is waiting to see the US Consumer Confidence Index report. It also follows the situation of conflict in the Middle East.

Money managers expect the baht to move tomorrow in the range of 34.00-34.20 baht/dollar.

• Important factors

• The yen was at 144.79 yen / dollar from 144.72 yen / dollar in the morning.
• The euro was at $1.1170/euro from the morning level of $1.1166/euro.
• The SET Index closed today at 1,364.31 points, down 0.50 points (-0.04%), trading value 43,499.35 million baht.
• Summary of trade volume by group Foreigners bought a net amount of 1,077.54 million baht.
• The Ministry of Commerce indicates the value of exports in July 2024 at 25,720.6 million dollars, an expansion of 15.2%, more than the market.

It is expected to be 5-8% and is the highest expansion rate in 28 months from March 2022. Import value was 27,093.8 million.

The dollar grew 13.1%, meaning in July Thailand returned to a trade deficit of $1,373.2 million while maintaining the full-year export target.

at 1-2%

• FTI revealed that car exports in July 2024 stood at 83,527 units, a decrease of 22.70% (YOY) due to the previous year’s high base and

Experiencing transportation problems due to fighting conditions in the Middle East With an export value of 81,434.29 million baht, a decrease of 11.71% from

In July 2023, car export sales are expected to still meet the target. and is worth more than 1 trillion baht

• Cumulative number of tourists in Thailand from 1 Jan – 25 Aug ’24, total 23,096,752 people, generating income from

Spending by foreign tourists is about 1,086,786 million baht.

• The Bank of Thailand indicates that commercial banking system loans (including affiliates) expanded in the second quarter of 2024 at a slower rate of 0.3%, total business loans.

Stable, while SME loans continued to contract. and consumer loans expand at a slower pace due to higher credit risks The balance remains

Non-performing loans (NPL) outstanding in 2Q24 increased slightly to 540.8 billion baht, representing a ratio of NPLs to total loans at 2.84%.

mostly from consumer loans

• The Bank of Thailand monitors the ability to repay the debts of small SMEs, businesses whose performance may be affected.

Impact on structural problems and reduced competitiveness. Including some households that are still in a precarious financial situation.

from a slow recovery of income This is expected to lead to a gradual increase in NPL. But it is still at a manageable level. and it did not increase

leaps and bounds (NPL clearance)

• The World Health Organization (WHO) announces its global strategic plan. To prepare and respond to the spread of disease.

Monkey pox (pox) between humans and humans It will work from September 2024 to February 2025, using a capital of 135 million dollars.

United States

• The German Statistical Office revealed that gross domestic product (GDP) grew by 0.1% in the second quarter of 2024.

Quarterly comparison This is in line with preliminary estimates after GDP expanded by 0.2% in the first quarter.

• US economic data that will be reported this week includes the Consumer Confidence Index (CCI) for August, the number of people

Weekly unemployment benefit claims, GDP 2nd quarter 2024 (2nd estimate), personal consumption expenditure price index

(PCE) July and August Consumer Confidence Index (Final Estimate)

By Kasamaphon Kittisamphan/Ratchada Kongkhunthian