KBANK expects the baht range next week at 33.60-34.50, tracking Fed statement – key economic figures by InfoQuest

InfoQuest – Bank Kasikorn (BK:) sees the value of the baht next week (November 11-15) at 33.60-34.50 baht / dollar, from the market closing on Friday, November 8, at 34.02 baht / dollar.

In the past week the baht strengthened according to the increase in gold prices in the world market amid selling pressure on the dollar. To change the situation before the US presidential election, however, the baht decreased past the level of 34.00 baht / dollar to reach the weakest level in more than 2 months at 34.46 baht / dollar amid selling pressure in other Asian currencies, including the Chinese. yen and yuan, while the dollar continued to rise strongly in line with US bond yields. Get the election results, which indicate that Mr. Donald Trump has won and is preparing to become the 47th President of the United States. In addition, the depreciation of the baht is also in line with the direction of fund flows among investors. investment

at the end of the week the baht recovered somewhat after the dollar decreased after profit pressure. (From having improved significantly in the previous period get the results of the US presidential election), along with possible additional negative factors from the downward change in US bond yields. After the Fed cut the policy interest rate by 0.25% to a range of 4.50-4.75% in the most recent meeting on November 6-7.

Important factors to examine include foreign capital management and other Asian currencies, particularly the Yuan. Includes statements from Federal Reserve (Fed) officials, while key US economic figures include consumer inflation expectations. Consumer Price Index Producer price index, retail sales, industrial output figures for October and the number of people filing for unemployment benefits each week

In addition, the market is still waiting for the continuation of economic data in October. of China’s and UK’s 3rd quarter 2024 GDP figures as well.

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