Kasikorn Bank (KBANK) expects the movement of the baht next week (July 24-28) at the level of 33.80-34.70 baht per US dollar. From the market close on Friday (July 21) at 34.40 baht per dollar. (After touching the highest level in two months at 33.75 baht per dollar. during the week), with the baht appreciating in line with Asian currencies and the rise in gold prices in the world market.
While the dollar was initially pressured by expectations that Even if the US Federal Reserve (Fed) raises interest rates at the FOMC meeting on July 25-26, it may be the last hike in this cycle. In addition, the baht was supported by foreign net buy positions of Thai bonds. While investors responded to the progress of the political process
However, the baht dropped some positives at the end of the week. while the dollar recovering in line with US bond yields This was supported by weekly claims for unemployment benefits that fell more than expected, reaching a two-month low.
Important factors to monitor next week include the results of the Fed meeting (July 25-26), the ECB (July 27) and the BOJ (July 27-28), the political situation in Thailand. and foreign capital signals
The key US economic data is the May house price index. durable goods purchases new home sales The number of contracts for the sale of houses pending closing of sales and inflation measured by PCE/Core PCE Price Indices in June, Consumer Confidence Index in July. 2Q23 GDP (adv.) and weekly jobless claims numbers Markets are also waiting for the July PMI (preliminary) of Japan, the Eurozone, the UK and the US, the results of the Indonesian central bank meeting. and industrial profit figures for June of China as well
2023-07-23 06:56:00
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