KBANK Estimates Baht Movement Next Week: Factors to Watch Include Fed Meeting, BOJ & ECB

Kasikorn Bank (KBANK) stated in the analysis that the movement ofbaht next week (June 12-16) will be at 34.30-34.90 baht per dollar from 34.60 baht per dollar on Friday, June 9, 2023.

by last week The baht fluctuated The baht depreciated in line with most Asian currencies and the yuan. Opposite the dollar Appreciation in accordance with the increase in US bond yields.

After the signal of tighter monetary policy than expected by the Reserve Bank of Australia and the Bank of Canada. prompted the market to re-evaluate the outlook for US interest rates. carefully

evenUS Federal Reserve (Fed) May keep interest rates at the June 2023 meeting, but may resume raising interest rates again at the July meeting. 66 as well

As for the investment portfolio of foreign investors, between June 6-9, 2023, foreign investors bought a net of 844 million baht in Thai stocks, but had a status of Net Outflows out of the Thai bond market at 2,699 million baht (even though the net purchase of bonds was 64 million baht, but there were 2,763 million baht of debt instruments expired)

Important factors to watch next week include the outcome of the monetary policy meeting, dot plots, and US economic projections.US Federal Reserve (Fed) On 13-14 Jun.

results of the meetingEuropean Central Bank (ECB) June 15 and the meetingBank of Japan (BOJ) On 15-16 June, the political situation in Thailand and direction of foreign capital

The key US economic numbers are the Consumer Price Index. Producer Price Index May Retail Sales and Industrial Production New York and Philadelphia Fed Survey Confidence Index and Inflation Expectations in Consumer Perspectives for June 2023

In addition, the market is still waiting to follow the economic numbers in May. 66 of China, both retail sales industrial production and investment in fixed assets