Kasikorn Bank (KBANK) Evaluate the Thai baht movement framework for the next week (4-8 Jan ’16) at 29.80-30.15 baht / dollar, while the key factor to monitor is the situation of the COVID-19 outbreak. Around the world and in Thailand Bank of Thailand Monetary Policy Report (BOT) and Manufacturing and Service PMI Index for December Of the US, China, the Eurozone and the UK, while other important economic data During the week, including numbers of non-agricultural employment. Unemployment rate ADP employment in the private sector in December, factory orders in November
For the year 2020, the baht moved within the range of 29.76-33.18 baht per dollar. The baht has started to decline since the end of January. The first round of concerns about the effects of COVID-19 has spread in countries around the world. Including Thailand During that time Foreign investors sell the net. Both in the stock market and in Thai bonds continuously While the global economic recession signal encourages buying the dollar. As a safe currency
However, the baht was able to reduce the depreciation period and resume its appreciation for the rest of the year. It was boosted by the Fed’s unrestricted monetary policy easing, while the COVID-19 situation was The first round began to unfold. And US election results That ended with the victory of Mr. Joe. Biden was also a contributing factor to the recovery of risk assets and Asian currencies. Including Thai baht In addition, there are also factors that support the baht’s appreciation during December. 2020 is that Thailand has been included in the Monitoring List in the United States ‘key trading partners’ economic and foreign exchange policy assessment reports. Which makes it expected that Thai authorities may have to act more cautiously in intervention in the foreign exchange market. And despite the baht appreciation towards the end of the year But more risky signs of the COVID-19 outbreak The new round also limited some of the appreciation framework.
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