Next week’s baht range is 34.20-34.90 per dollar/SET, standing above 1,400 points, keeping an eye on foreign capital – statement from Fed officials.
Kasikorn Research Center Summary of the baht value movement during the week The baht returned to its weakest level in more than a week at 34.74 baht per dollar. The baht depreciated in line with most currencies in Asia. While the dollar Gradually returned to recover. From facing strong selling pressure in the last business week of 2023, along with additional positive factors from the increase in US bond yields. After US economic data It came out better than market expectations. In addition, the dollar also received support. After the minutes of the Fed meeting on Dec. 12-13, 2023, and statements from senior Fed officials It reflects that there are signs that interest rate cuts are unlikely to happen quickly. and the US policy interest rate will remain at a high level for some time to ensure that the Fed US inflation rate will continuously slow down until returning to the target level
For the week between 8-12 Jan. 2024, KBank expects the baht’s movement range to be at 34.20-34.90 baht per dollar. Factors that need to be followed include signals of foreign capital. Statement from Fed officials Consumer Price Index and Producer Price Index, December of the United States and China, as well as the results of the South Korean Central Bank meeting
The movement of the Thai stock market The Thai stock index is still above 1,400 points in the first week of 2024. Thai stocks rebounded strongly on the first working day of the year in response to positive factors from the permanent Thai-Chinese visa free measure. This stimulates the buying power of stocks that benefit from tourism. Especially stocks of airport business operators. However, the Thai stock index moved fluctuatingly during the rest of the week, in line with the direction of foreign stock markets. After responding to some positive factors Moreover, the minutes of the Fed meeting did not send a clear signal that When will the interest rate reduction begin? Incidentally, stocks in the electronic components group dropped. It was affected by the investment weight reduction of one of the major US technology stocks.
Week 8-12 Jan. 2024 KSecurities expects support levels to be at 1,415 and 1,400 points, while resistance levels are at 1,440 and 1,455 points, respectively. Factors that need to be followed include the direction of foreign capital. Gradual announcement of 4th quarter 2023 operating results of Thai companies, Consumer Price Index and Producer Price Index, December. of the United States and China, as well as November retail sales. of the euro zone
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2024-01-06 02:40:47
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