The baht depreciates Keep an eye on important factors next week. Gold price on the world market | Prachachat Turakij | LINE TODAY

The baht weakened along with Asian currencies and the yuan. In addition, there is strong buying back of the dollar. Before reporting US non-agricultural employment numbers end of week Keep an eye on important factors next week (11-15 Dec.) the results of the monetary policy meeting. Estimates and Dot Plots from the Fed, ECB and BOE meeting results, foreign capital signals. and the direction of gold prices in the world market

December 10, 2023 Kasikorn Research Center Summary of the movement of the baht value: The baht gradually depreciates After a short period of appreciation At the beginning of the week amid market expectations that It is possible that US policy interest rates have already reached their highest point in the cycle. In addition, the baht has additionally benefited from the increase in gold prices in the world market as well.

However, the baht turned to depreciate following the contraction of gold prices in the world market. Meanwhile, Asian currencies as a whole face pressure in the direction of the Yuan.Moody’s adjusts China’s credit rating outlook (A1) From “stable” to “negative”

In addition, the dollar is supported by the repurchase pressure of the dollar. to adjust position Before the announcement of US non-agricultural employment figures at the end of the week In addition, it is likely to receive indirect benefits from the prediction that The European Central Bank (ECB) may return to easing monetary policy next year as well.

On Friday, December 8, 2023, the baht closed at 35.33 baht per dollar, compared to 35.03 baht per dollar. On the previous Friday (1 Dec.) for the investment portfolio status of foreign investors between 4-8 Dec. 2023, foreign investors net sold Thai stocks of 4,763 million baht and had a net status. Outflows from the Thai bond market of 1,522 million baht (net sales of bonds of 982 million baht and 540 million baht of expired debt instruments)

For next week (11-15 Dec.), Kasikorn Bank views the range of the baht’s movement at 34.80-35.50 baht per dollar. Meanwhile, the Kasikorn Research Center assesses important factors that need to be monitored, including the results of the monetary policy meeting. Estimates and Dot Plots from the Fed, ECB and BOE meeting results, foreign capital signals. and the direction of gold prices in the world market

Meanwhile, important US economic figures include consumer inflation expectations. Consumer Price Index Producer Price Index, Retail Sales, Industrial Production Data for November and the number of people applying for weekly unemployment benefits The market is also waiting to follow Yuan-denominated lending volumes, retail sales and November industrial production data. of China, including preliminary PMI data for December. of the United States, England, and the Eurozone

As for the movement of the Thai stock market The Thai stock index closed similar to last week. Thai stocks moved up from the beginning to the middle of the week. There is strong buying of big cap stocks in many industries. It is expected to benefit from the TESG fund and predicts the Fed’s interest rate maintenance at next week’s meeting.

Thai stocks fell sharply later. amid selling pressure from foreign investors Especially stocks in the energy sector After the price of oil in the world market dropped and big cap stocks in the technology sector due to concerns that they would be dropped from the SET50 and SET100 index calculations. However, Thai stocks bounced back partially at the end of the week. with the force of buying back stocks from electronic component manufacturers to help support

On Friday, Dec. 8, the SET Index closed at 1,380.99 points, an increase of 0.05% from the level at the end of last week. Meanwhile, the average daily trading value was 37,650.03 million baht, down 21.14% from the previous week. The mai index increased 0.73% to close at 400.51 points.

For next week (11-15 Dec.), Kasikorn Securities Co., Ltd. sees that the Thai stock index has support levels at 1,365 and 1,350 points, while resistance levels are at 1,400 and 1,410 points, respectively. The Kasikorn Research Center evaluates important factors. Things to follow include the Fed meeting (12-13 Dec.) and the direction of foreign capital.

Important US economic data includes the Consumer Price Index. Producer Price Index Retail sales and industrial production in November PMI index (preliminary) for December, including the number of weekly jobless claims. Meanwhile, other foreign factors include the BOE and ECB meetings, PMI index (preliminary) in December of Japan, Eurozone and England. as well as economic data for November of China, such as retail sales, investment in fixed assets