KBANK expects the baht range next week to be between 32.90-33.70, monitoring the results of the MPC-ECB meeting.

Kasikorn Bank (KBANK) Looking at a moving framebahtNext week (4-18 October) at a rate of 32.90-33.70 baht / dollar from the market closing on Friday 11 October 2024 at 33.34 baht / dollar.

Last week, the baht decreased in line with the net selling position of foreign investors in Thai stocks and bonds. and the picture of the devaluation of most currencies in Asia. At the same time, the dollar recovered gradually amid expectations that the US Federal Reserve (Fed) will cut its policy interest rate by just 0.25% at its meeting in November. This was after the minutes of the Fed meeting on September 17-18 indicated that although the majority of Fed leaders supported the 0.50% interest rate cut, there was a consensus that the cut would not be that rate required the Fed to cut interest rates by 0.50% at their next meeting.

However, the baht has regained its strength to some extent following the rise in gold prices in the global market. along with the upward movement of the dollar Restrictions begin at the end of the week. After US economic data showed a mixed trend, with the number of weekly jobless claims rising more than the market expected, reaching the highest level in 14 months, while the Consumer Price Index (CPI) came out higher than market expectations. But it is still in the direction of a continuous slowdown.

For next week, important things to follow include the results of the Monetary Policy Committee (MPC) meeting on 16 October and foreign capital management. Asian currency conditions and reports from Fed officials

Important US economic figures include consumer inflation expectations, retail sales, industrial production. and information on housing starts in September New York Fed and Philadelphia Fed Manufacturing Sector Survey and housing market index for October

In addition, the market is still waiting for the results of the European Central Bank (ECB) meeting on inflation to follow in September. England, the Eurozone and Japan, as well as GDP data for the 3rd quarter of 2024 and economic data for September. from China too

By Ratchada Kongkhunthian