Dollar fluctuation In the midst of the high inflation watch After the price of oil and energy increases May pressure the US Federal Reserve (Fed) to cut economic stimulus. While the baht today moved within the range of 29.85-30.04 baht / US dollar. Before closing at 29.97 / 99 baht / US dollar
Foreign exchange department Bangkok Bank reports that the movement of the foreign exchange market between 15-19 February 2021, the baht market opened Monday morning (15/2) at 29.88 / 90 baht / US dollar level. Sustained from Friday’s close (12/2) at 29.89 / 91 baht / US $.
At the beginning of the week The US dollar depreciates against major currencies. As investors have a positive view of the global economic recovery. Following progress in spreading COVID-19 vaccine And the ability to control the spread of COVID-19 in many countries.
Combined with the Joe Biden’s $ 1.9 trillion economic stimulus package, investors have poured out safe assets such as the US dollar and gold. And get to hold more risky assets As a result, the baht strengthened to 29.85 baht / US dollar (16/2).
Before in the middle of the week The US dollar will gradually appreciate. It was boosted by a steady increase in US 10-year Treasury yields from 1.2% to 1.33%, the level before the coronavirus outbreak.
Indicates a view of the US economic recovery and the expansion of inflation as rising energy and oil prices.
The dollar also received a boost from strong economic data. The New York Central Bank (Fed) said its manufacturing index rose 8.6 points to 12.1 in February and the US Department of Commerce reported. Retail sales jumped 5.3% in January, the first of its kind in four months.
The Federal Reserve’s (Fed) interest rate direction, Federal Reserve Chairman Jerome Powell, stated in the latest minutes that It will continue its easing policy to stimulate economic recovery and employment.
However, at the end of the week The dollar fell further downward. After the release of higher-than-expected unemployment in the US Which disappoints the market that expects The economy will recover. After being affected by the coronavirus outbreak
In addition, the US release of the import price index in January rose 1.4% month on month. The highest in nearly nine months, signaling inflation that will accelerate in the coming months. And may be a factor to encourage the Federal Reserve (Fed) to end the monetary easing policy.
For domestic factors The National Economic and Social Development Council revealed. The Gross Domestic Product Index (GDP) in 4Q2020 was 4.2 percent, down from the expected 5.4 percent.
During the week, the baht moved within the range of 29.85-30.04 baht / US dollar. And closed on Friday (19/2) at 29.97 / 99 baht / US dollar.
For the movement of the euro The euro opened on Monday (15/2) at 1.2119 / 20 USD / EUR. Weakened from Friday’s close (12/2) at 1.2125 / 27 USD / EUR. The euro weakened early in the week. From the rebound of Bond Yeald United States
For that economic figure The EU’s Bureau of Statistics (Eurostat) released the euro zone’s gross domestic product (GDP) for the fourth quarter of 2020, down 0.6% on a quarterly basis. Which is better than preliminary estimates
In addition, the International Monetary Fund (IMF) has lowered its forecast for euro zone economic growth in 2021 from 5.2% to 4.2%.
However, at the end of the week The euro appreciates. From the pressure of the labor market in the US After the number of US jobless claims continues to rise to 861,000, the highest in one month and higher than the market forecast of 773,000.
In the short term, the appreciation of the euro remains limited. Germany’s Chancellor Alquila Merkel and the 16 state governors approved a proposed extension of the Laguna measures to curb the spread of COVID-19. Out until March 7 from originally scheduled to February 14.
During the week, the euro moved within the range. 1.2036-1.2165 US Dollar / Euro And closed at 1.2123 / 25 USD / EUR
For the movement of the yen The yen opens Monday morning (15/2) at the level of 105.05 / 07 yen / US dollar. Weakened from Friday’s close (12/2) to 104.73 / 75 yen / US dollar.
At the beginning of the week, the yen was pressured by investors’ view that the global economy was recovering after the spread and vaccination of COVID-19 in many countries, pushing it up. Pour out safe assets
The yen weakened during the week to 106.20 after an increase in US Treasury yields. Before falling to the 105.50 level at the end of the week. After reporting a better-than-expected inflation expansion from -1.2% to -0.6%.
In addition, the Ministry of Finance released its January export report, which rose 6.4% year-on-year. This is the second straight month of increases, driven by strong demand in China and elsewhere in Asia.
During the week, the yen moved within the frame between 104.97-106.20 Yen / US Dollar And closed on Friday 105.38 / 40 yen / US dollar.
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