Keeping a Watchful Eye on Flow and Foreign Economic Indicators, KBANK Predicts Baht to Remain within 34.00-34.50 Frame for the Coming Week.

Kasikorn Bank (KBANK) views the movement of the baht next week (April 17-21) at the level of 34.00-34.50 baht / dollar, while the Kasikorn Research Center assesses important factors to monitor, including capital direction. Foreign (Flow) and Asian currencies Reserve Bank of Australia and Bank Indonesia meeting results and China’s LPR rate setting, while key US economic figures include New York and Philadelphia Fed manufacturing surveys. Housing market index for April Numbers of home building starts and second-hand home sales in March Markets are also looking forward to March inflation in the Eurozone and UK, preliminary PMI data for April. of major economic countries Including Chinese economic data such as GDP numbers for the first quarter of 2023, industrial production and retail sales in March

Last week, the baht faced initial selling pressure. but cut some of the depreciation in the middle of the week Before entering the long holiday of the domestic market on the Songkran festival The baht depreciated amid the dollar’s support. At the beginning of the week, from the possibility of a Fed rate hike at the FOMC meeting in May after US labor market data. There is still a good signal. In addition, the depreciation of the yen and yuan also pressured the overall direction of Asian currencies. However, the baht partially recovered in the middle of the week in line with global gold prices. The dollar faced selling pressure to adjust its position ahead of the US Consumer Price Index (CPI) release.

On Wednesday, April 12, 2023, the baht closed at 34.23 baht/dollar against 34.07 baht/dollar. On the previous Friday (April 7), the baht depreciated amid expectations of a possible Fed rate hike in May, but was partially recovered by selling pressure on the dollar. Before the US CPI data report and before the long Songkran holiday.