Thai baht appreciates Meanwhile, Thai stocks can stand above 1,500 despite having to face selling pressure before closing a long break. Keep an eye on the key factors for next week. 4th quarter PD figures Political factor COVID situation US economic stimulus
Kasikorn Research Center Summary of the movement of the baht that The baht gradually appreciates against the dollar. This is in line with the direction of many Asian currencies and risky asset purchases, driven by hopes of US economic stimulus measures.
In addition, the dollar Further pressure was also seen on the Fed chair’s continued financial easing. While the decline in US government bond yields. And information that reflects Inflationary pressures remain low. It is a negative factor for the dollar as well.
On Thursday (February 11), the baht stood at 29.87, compared with 30.08 baht per dollar. On the previous Friday (Feb. 5)
For the next week (15-19 February), Kasikornbank estimates the Thai baht movement frame at 29.80-30.20 baht per dollar. Meanwhile, the Kasikorn Research Center assesses key factors that need to be monitored, including GDP in 4Q20 and Thailand’s political factors. Global COVID-19 and US economic stimulus issues
The major US economic figures are producer price indices, retail sales, industrial production. Information for starting home building and second-hand home sales in January The market may also look forward to the record of Fed meetings (Jan. 26-27), Japan’s 4Q20 GDP and the euro zone, as well as the preliminary PMI for February. Of the US, the Eurozone and the UK as well
As for the movement of the Thai stock market Thai stocks slipped higher before the close, and the SET index closed at 1,508.35 points, up 0.78% from the previous week. The average daily turnover was 92,117.82 million baht, an increase of 17.64% from the previous week, while the mai index rose 2.77% to close at 380.18 points.
Thai stocks rebounded early in the week following the international market direction. It is driven by the hope of the US economic stimulus measures. Which is expected to be approved by Congress.
However, Thai stocks have moved in a narrow range until the middle of the week before falling at the end of the week. Due to the lack of new factors To stimulate After the market has accepted such positive factors already. In addition, investors cut their investment positions before closing a long break and wait to monitor the political factors in the country over the next week.
For the next week (15-19 Feb.), Kasikorn Securities Co., Ltd. sees the Thai stock index have support at 1,500 and 1,485 points, while resistance is at 1,520 and 1,530, respectively, with the Kasikorn Research Center assessing key factors. To be monitored are GDP figures for the fourth quarter of 2020, the 4Q20 performance of listed companies (listed companies)
Thai political factors The situation of COVID-19, along with the progress of the US economic stimulus package. The key US economic data are Fed meeting notes, retail sales, industrial production in January. And the preliminary PMI index for February. Other important foreign factors are the 4Q20 GDP figures as well as the preliminary PMI index for February. Of Japan and the Eurozone
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