A money manager from Bangkok Bank revealed that the baht closed this evening at 35.03/04 baht/dollar, from opening the market this morning at 34.62/63 baht/dollar. During the day, the baht moved in a range of 34.58 – 35.09 baht/dollar. Today the baht moves moving in the direction of depreciation The same is true for most currencies in the region. The main factors come from abroad. Because the price of gold falls, the dollar strengthens.
“Since last Friday (Jan. 5), when hourly wages and non-agricultural employment The report came out that the unemployment rate was higher than expected and the unemployment rate was lower than expected. This caused the baht to rise to a high of 34.95 baht/dollar. Later, the service sector index came out worse than expected. The baht dropped to 34.45 baht/dollar. This morning it opened around 34.60 baht/dollar and gradually depreciated up to the high point on Friday.” Financial management specified
for domestic factors During the day there was news about digital wallets. And the Prime Minister came out to disagree with the increase in interest rates. Because Thai inflation is not as high as in other countries. It’s around 0-1%, so it’s not appropriate to continue raising interest rates. Due to the increase in interest rates, Higher borrowings As a result, the SME business is in difficulty. Moreover, the GDP is still not good. The overall picture of the Thai economy is still not good. Makes confidence still not very good
For tonight, the market is waiting to follow US inflation data to assess the interest rate direction of the Federal Reserve (Fed).
money manager The baht’s movement range is estimated tomorrow at 34.80 – 35.20 baht/dollar.
*Important factors
- The yen was at 144.21/25 yen/dollar from 144.38/40 yen/dollar in the morning.
- The euro was at $1.0938/0942/euro from morning levels of $1.0946/0950/euro.
- The SET Index closed today at 1,418.45 points, down 9.51 points (-0.67%), trading value 42,143.31 million baht.
- Summary of trading volume by group Net foreign sales were 319.91 million baht.
- Deputy Finance Minister revealed that the Council of State A letter has been sent back confirming that it can be issued. 500 billion baht loan act
baht to be used in the digital wallet project in accordance with the authority of the Cabinet (Cabinet) and the Top-up Project Policy Committee.
10,000 baht via digital wallet to enact legislation to borrow such money to use in the project It is expected that a meeting of the committee will be called.
Project policy for top-up 10,000 baht via digital wallet with the Prime Minister as chairman to consider discussions on such legal issues
said next week
- Krungthai COMPASS estimates that although general inflation will be negative for the third consecutive month (Oct.-Dec. 2023),
The Thai economy has not yet entered a state of deflation. By evaluating that General inflation in 2024 averaged at 1.0%, slowing down from 2023, which was at
1.23% from energy category prices that are likely to be lower than 2023. However, we must keep an eye on the risk of geopolitical conflicts.
Only in the Red Sea
- Investors are keeping a close eye on shadow banking movements in China. After it was reported that Zhongzi Enterprise
Group (Zhongzhi Enterprise Group) or ZEG, a giant Chinese shadow bank. has filed for bankruptcy from the problem of lack of liquidity
heavily after billions of dollars were lent to China’s real estate sector
2024-01-08 11:02:04
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