Kasikorn Bank Public Company Limited or KBANK Look at the movement of the baht next week (23-27 Jan.) at the level of 32.50-33.00 baht / dollar from the close of the market on Friday (20 Jan.) at 32.78 baht / dollar.
by last week The baht hit a new 10-month high at 32.70 baht/dollar. The US Federal Reserve (Fed) is likely to slow down the size of US interest rate hikes. (After US economic data came out weak)
During the week, the baht faced intermittent selling pressure due to foreign investors’ net selling positions on Thai bonds. In addition, some Asian currencies depreciated according to the Yuan. There is a negative factor from weak Chinese economic data. Reflecting the impact of China’s zero COVID policy
However, the baht strengthened and retested the 32.70 baht/dollar range at the end of the week. amid the strength of Asian currencies While the market returns to closely follow the Thai interest rate signal from the results of the Monetary Policy Committee (MPC) meeting on 25 Jan. 23
There are also important factors to monitor, including the results of the MPC meeting. direction of foreign capital and the movement of Asian currencies.
While the key US economic data is durable goods purchases. new home sales The number of contracts for the sale of houses pending closing of sales Inflation calculated from PCE/Core PCE Price Indices Dec. 4Q22 GDP (1st time) Consumer Confidence Index and Inflation Expectations in Jan. and the number of weekly unemployment benefits The market is also looking forward to the (preliminary) January PMI for the Eurozone, UK and US as well.
