Mr. Poon Panitchpibun, money market strategist, Krungthai GLOBAL MARKETS, Krungthai Bank, revealed that the baht opened this morning (26 Dec. 2023) at the level of 34.57 baht per dollar. “Appreciated a little. Hardly changed.”
from the previous day’s closing level of 34.58 baht per dollar. and look at the baht frame today It is expected to be at the level of 34.45-34.70 baht/dollar during the previous night. The baht moved sideways (oscillating in the range of 34.56-34.63 baht per dollar) amid light transaction volumes during the Christmas holiday period in many countries. In addition, market players are waiting to learn of additional new factors. As a result, the baht continues to fluctuate near the level of 34.50 baht per dollar. This is the baht target at the end of the year that we had previously assessed.
For today, there may not be many interesting and important economic data reports. We evaluate that Market players may wait to see the results of the US 2-year bond auction around 1:00 a.m. on Wednesday morning, December 27, in Thailand.
The European financial market will remain closed for the Boxing Day holiday, causing the volume of transactions in financial markets to continue to decline. And market players should be prepared to deal with the volatility during the last week of the year.
For the trend of the baht value We evaluate that The baht is still likely to fluctuate sideways, near our year-end target level of 34.50 baht per dollar. Until the market recognizes new factors Until we begin to see a clear movement of the baht, however, during this period we should keep an eye on the direction of gold prices. This is because the flow of gold transactions can still have a significant effect on the direction of the baht. In addition, you should keep an eye on the direction of fund flow for foreign investors. which we consider Foreign investors may continue to sell off Thai assets. But the selling pressure may have decreased somewhat from the previous week. by foreign investors selling Thai assets during the day. There is a chance that the baht may fluctuate and weaken. But overall, the baht will still not be able to weaken past the resistance zone of 34.80 baht per dollar easily if there are no new factors to put pressure on it. As for the support zone, It is still in the range of 34.40-34.50 baht per dollar. Because we expect Market players such as importers May wait for an opportunity to buy the dollar at the end of the month. This was the period when the baht turned around and strengthened below the level of 35 baht per dollar.
2023-12-26 00:46:00
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