KBANK expects the baht next week to fluctuate within the range of 32.90-33.70 baht / dollar, monitoring the results of the MPC meeting on October 16 – foreign capital management.
Kasikorn Bank (KBANK) looks at the framework of the movement of baht next week (4-18 October) at the level of 32.90-33.70 baht / dollar from the market closing on Friday, October 11, 2024 at 33.34 baht / dollar Important factors that must follow including the results of the Monetary Policy Committee (MPC) meeting on October 16, foreign capital management Asian currency conditions and statements from Fed officials
baht next week
Important US economic figures include consumer inflation expectations, retail sales, industrial production. and information on housing starts in September New York Fed Manufacturing Sector Survey and the Philadelphia Fed and the October Housing Market Index
In addition, the market is also awaiting the results of the European Central Bank (ECB) meeting, September inflation rates in England, the Eurozone and Japan, as well as 3Q2024 GDP data and data economic September from China as well.
Last week, the baht weakened in line with net selling by foreign investors in Thai stocks and bonds. and the picture of the devaluation of most currencies in Asia. Meanwhile, the dollar is gradually recovering amid expectations that the Federal Reserve (Fed) will cut its policy interest rate to just 0.25% at its November meeting. After the summary of the Fed meeting on September 17-18 he said that Although the majority of Fed leaders support a cut in interest rates by 0.50%, there is a consensus That rate cut will not happen required the Fed to cut interest rates by 0.50% at its next meeting.
baht next week
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.
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2024-10-13 03:18:00
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