Kasikorn Bank (KBANK) Forecast: Baht to Reach 36.50-37.00 Against Dollar Next Week

Kasikorn Bank (KBANK) sees the baht move at 36.50-37.00 baht per dollar next week (May 13-17), while the Kasikorn Research Center assesses important factors to watch, including the financial situation of the Yen and gold prices on the world market Foreign capital management, statements from Fed officials

Meanwhile, key US economic figures include consumer inflation expectations. Producer price index Retail Consumer Price Index, home construction numbers Industrial production in April New York and Philadelphia Fed Manufacturing Sector Survey May

Includes figures for the number of people applying for unemployment benefits each week.

In addition, the market will probably wait to follow the 1Q2024 GDP numbers of Japan and the Eurozone. April the inflation rate of the economic figures of the Eurozone and April from China, such as retail sales and industrial production as well.

Last week the baht strengthened against the dollar. which weakened after a decline in US bond yields The baht weakened in the beginning to the middle of the week after the overall picture of regional currencies, led by the Yuan and the Yen. While the dollar With the support of statements from Fed officials, which shows the trend in maintaining the US policy interest rate. at a high level for a long time However, the baht gradually recovered and strengthened at the end of the week.

At the same time, the number of weekly jobless claims increased more than the market expected, putting pressure on the dollar. to weaken along with a downward change in US bond yields. In addition, the baht is also supported by an increase in the price of gold in the world market.

On Friday, May 10, 2024, the baht closed the domestic market at 36.70 baht per dollar. Compared to the rate of 36.79 baht per dollar. On the previous Friday (3 May 2024)

Regarding the status of foreign investors’ investment portfolio between 7-10 May 2024, foreign investors sold net Thai stocks for 1,597 million baht.

But there is a level of net inflow into the Thai bond market of 437 million baht (net purchase of Thai bonds of 2,567 million baht, removing outstanding debt instruments of 2,130 million baht).

By InfoQuest News Group (11 May 2024)

Tags: KBANK, Kasikorn Bank, Kasikorn Research Center, The US economy