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Dollar appreciation After the Federal Reserve released strong economic data. The US economy is likely to expand 6% on broader vaccination progress. While the baht closed at 30.04 / 05 baht / US dollar.
Foreign exchange department Bangkok Bank reports that the market movement of the foreign exchange on Wednesday, February 24, 2021, the baht market opened today morning (24/2) at the level of 30.02 / 03 baht / US dollar. Stable from Tuesday’s closing level (23/2) at 30.00 / 02 baht / US $.
The US dollar depreciates against the major currencies. After last night in a semiannual statement on monetary policy and economic conditions to the Senate Banking Committee, Federal Reserve Chairman Jerome Powell promised that the Fed would The monetary easing policy remains the same, both for interest and QE measures.
Powell also expressed his optimism on the US economy. It said the US economy is likely to grow 6% this year after broader progress in vaccination.
For domestic factors The Fiscal Policy Office (FPO) announced today (24/2) that the Thai economy in January had slowed from the previous month. Both in terms of domestic spending and in tourism, however, in terms of product exports, still showing positive signs and expanding continuously.
The market has also received good news about the COVID-19 vaccine. This morning, the vaccine from Sinovac and Astra Seneca has arrived in Thailand. During the day, the baht moved within the range of 30.02-30.04 baht / US dollar. Before closing the market at 30.04 / 05 baht / US dollar.
For the movement of the euro The euro opened the market this morning (24/2) at the level of 1.2158 / 60 USD / EUR. Slightly revised from Tuesday’s close (23/2) at 1.2143 / 45 USD / EUR. The euro strengthened from the depreciation of the US dollar. Investors are also keeping an eye on the COVID-19 vaccine in various European countries.
The euro has also been a boost after last week the European Commission ordered an additional 130 million doses of Moderna Inc’s vaccine, which is expected to be delivered in Q3 and Q4. 4. In 2021, the total European order for Modona vaccine totaled 310 million doses, making the vaccine possible to cover more countries.
During the day, the euro moved within the frame between 1.2147-1.2175 US Dollar / Euro And closed at 1.2160 / 63 USD / EUR
For the movement of the yen The yen opens the market today morning (24/2) at 105.42 / 45 yen / US dollar. Weakened from Tuesday’s close (23/2) at 105.25 / 26 yen / US dollar.
The yen remained under pressure from investors cut their holdings on the back of strong economic data released by countries around the world over the past week. After COVID-19 was first distributed and vaccinated Including the hope that Congress will be able to approve the US $ 1.9 trillion stimulus package by March 15.
During the day, the yen moved within the frame between 105.17-105.81 Yen / USD and closed at 105.78 / 79 yen / US dollar.
The key economic indicators this week were US new home sales for January (24/2), weekly unemployment claims of (24/2), US durable goods orders for January. . (25/2), US home sales contract sales pending sales in January (25/2),
US personal spending price index for January (26/2), and final US consumer confidence index for February (26/2).
For the morning swap point for 1 month in the country at 0 / + 0.2 satang / US dollar. And the 1-month morning hedging rate abroad is + 3.5 / + 4 satang / US dollar.
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