The baht last week moved back to its feet below the 30.00 baht / dollar line, with Kasikorn Bank Indicate the baht’s depreciation last week from the stronger US dollar. At the beginning of the week, there was a net selling position of foreign investors in Thai stock and bond markets. This caused the dollar to appreciate in line with the rising US government bond yield. Among the hopes of the economic recovery as well
For supporting the dollar The US Federal Reserve has slowed down some during the week following the easing from the Federal Reserve’s (Fed) chairman’s statement, but the baht weakened again late in the week. There are additional negative factors from Thailand’s current account, which recorded a deficit in January. The market closed on February 25, the baht was at the level of 30.12 baht per dollar.
Read: tThai Srisathakit still uncertain, BOT expects to recover as far as COVID 3Q65
In addition, Kasikorn Bank Also assessed the baht in the next week Between 1-5 March 2021 which is the beginning of a new month Expect the movement of the baht to be 29.80-30.30 baht per dollar While the Kasikorn Research Center said in the next week, various issues must be monitored. Especially foreign factors such as issues about US economic stimulus measures The key US economic figures are non-farm employment. Unemployment rate Private employment Manufacturing and service PMI / ISM index February And the amount of durable goods orders in January At the same time, the market may wait to monitor the situation of COVID-19 Both domestic and international, including China, Eurozone and UK Manufacturing and Service PMI as well.
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