Baht Strengthening as Yuan Surges: Market Update and Forecast for Tomorrow’s Movement

Miss Kanchana Chokpaisansin Research Executive, Kasikorn Research Center Company Co., Ltd. revealed that the baht today (18 Oct. 2023) closed the market at 36.30 baht per dollar. Compared to yesterday’s market closing level of 36.40 baht per dollar. The baht strengthened following sentiment regarding the Yuan, which benefited from China’s 3Q23 GDP numbers that came out better than the market expected. For today’s fund flow direction Foreign investors bought Thai stocks for 2,799.98 million baht but sold Thai bonds for 841 million baht.
For the framework for the movement of the baht tomorrow Preliminarily expected at 36.20-36.45 baht per dollar. Meanwhile, important factors that need to be followed include signals of foreign capital. Asian currency trends situation in israel Statement by the Fed Chairman and US economic figures such as the number of people applying for weekly unemployment benefits. October Philadelphia Fed Economic Outlook Survey and second-hand home sales in September

2023-10-18 12:12:00
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