HoonSmart.com >> Krungsri Bank expects the baht this week to trade between 29.80-30.10 baht per dollar, indicating the big picture of the year ’64 greatly easing the US monetary policy. Put pressure on the dollar and attract capital to emerging markets.
Global Markets Group Bank of Ayudhya (BAY) has a view on the direction of the baht this week that It is likely to move within the range of 29.80-30.10 baht per dollar. This was compared with the close at 30.01 baht per dollar last week. Foreign investors bought a net net buy of 372 million baht and 202 million baht in Thai stocks and bonds, respectively. In 2020, the baht appreciated by 0.07%, while the Chinese yuan brought the regional currency appreciation at 7.00%. The Thai bond yield curve was down 20-80 bps from the end of 2019.
The Global Markets division believes that the market will focus on a number of key US economic data such as service sector figures. And employment In addition, investors will keep an eye on the Georgia election, which will indicate which party will have a majority in the US Senate. It will affect the additional fiscal stimulus in the next phase.
As many countries begin to inject or buy vaccines, the COVID-19 epidemic continues to expand, taking measures to slow down the infection will inevitably hinder the global economic recovery, however, for the big picture this year. Krungsri maintained the view that the massive easing of US monetary policy would depress the dollar and attract capital flows into emerging markets.
For domestic factors The Bank of Thailand (BOT) reported that private consumption resumed expansion in November as a result of a program to stimulate public spending and special holidays. Meanwhile, private investment grew in line with the confidence of the business sector, however the recovery was not comprehensive while foreign tourists were still very small. The authorities will continue to monitor the new epidemic in Thailand and abroad.
In addition, Krungsri sees that although the disease control measures in this round may not be as intense as in March 2020 and that the progress of the vaccine is the hope of all sectors. But investors will remain wary as the labor market becomes more fragile and the service sector wounds deepen from the initial city shutdown.
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