The baht trade fee goes down in opposition to the pound Watch subsequent week 3 essential elements |

The baht trade fee goes down in opposition to the pound In the meantime, Thai shares fell for the 4th week in a row amid promoting strain from foreigners. Keep tuned for subsequent week’s highlights. Overseas capital administration Thai political elements and indications of US rates of interest From an announcement from a Fed official

Date: June 16, 2024 Kasikorn Analysis Heart Abstract of baht worth motion: The Thai baht trade fee decreased right now in opposition to the pound. The baht hit its weakest stage in additional than every week at 36.94 baht per greenback. In the beginning of the week based on the general image of different currencies. in Asia which weakened amid continued help for the greenback. From the numbers of non-agricultural employment in the USA. which got here out higher than the market anticipated. This might delay the timing of the Fed’s first rate of interest lower.

Nonetheless, the baht step by step recovered considerably through the week. After the greenback returns to promoting strain after the decline in US bond yields. each earlier than and after the Fed assembly together with the greenback There are detrimental elements from the Client Value Index numbers. Producer worth index and information on the variety of weekly jobless claims in the USA. which got here out weaker than the market anticipated as effectively

The baht weakened once more on the finish of the week in opposition to the yen. which weakened after the BOJ determined to maintain rates of interest and the extent of Japanese authorities bond purchases on the similar stage. On the similar time, the plan to cut back the acquisition of Japanese authorities bonds, though the BOJ is ready to point motion. However particulars will probably be revealed on the July assembly. once more

On this regard, the financial coverage assembly of Thailand and the USA in the midst of the week got here out to maintain the coverage rate of interest on the similar stage as anticipated by the market, with the MPC voting 6 : 1 to maintain rates of interest at 2.50%, whereas the Fed determined to maintain rates of interest within the vary of 5.25-5.50% and alter Change your perspective on the path of coverage rates of interest by the dot plot to point out the chance to cut back rates of interest just one time this yr.

On Friday, June 14, 2024, the baht closed the home market at 36.72 baht per greenback. In comparison with the speed of 36.50 baht per greenback. On the earlier Friday (June 7, 2024), for the standing of international traders’ funding portfolio between June 10-14, 2024, international traders offered web Thai shares of 9,376 million baht and there was a standing of web outflow from the market Thai bond 3,661 million baht (web sale of Thai bonds 3,358 million baht and excellent debt devices 303 million baht)

For the following week (June 17-21), Kasikorn Financial institution sees the baht trending at 36.50-37.00 baht per greenback. On the similar time, the Kasikorn Analysis Heart assesses essential elements that have to be monitored, together with the path of international capital. Thai political elements and alerts about US rates of interest From an announcement from a Fed official

In the meantime, essential US financial figures embody the New York Fed’s Manufacturing Sector Survey and the Philadelphia Fed’s June Enterprise Outlook Survey. Retail gross sales, industrial manufacturing Residence constructing data begins and second hand dwelling gross sales in Could. Consists of figures for the variety of folks making use of for unemployment advantages every week.

As well as, the market continues to be ready to observe the Could inflation numbers. and the outcomes of the Financial institution of England assembly Financial numbers for Could and China’s key lending fee (LPR) determination, together with the preliminary PMI index for June. from Japan, England, the Eurozone and the USA as effectively.

Relating to the development of the Thai inventory market The Thai inventory index hit a brand new low in over 3 years and seven months, whereas international traders continued to promote Thai shares.

Thai shares fell sharply firstly of the week in step with regional inventory markets amid considerations that the Fed will hold rates of interest excessive for a very long time. After the figures for non-agricultural employment in Could of the USA got here out increased than the market anticipated. As well as, traders are nonetheless apprehensive about political points within the nation. This issue encourages revenue taking in shares in lots of enterprise teams, led by finance, actual property, and vitality.

Thai shares moved inside a slim vary later earlier than falling step by step after the Fed assembly. It is because the Fed has indicated fewer rate of interest cuts than the market anticipated. As well as, traders are cautious in investing whereas ready for the political scenario within the nation to observe. The Thai inventory hit a brand new low in 3 years and seven months at 1,304.31 factors on the finish of the week. earlier than you get better a little bit On the similar time, international traders nonetheless have a web quick place on Thai shares constantly (17 enterprise days).

Undoubtedly, this week financial institution shares (supported by MPC’s intention to maintain rates of interest within the newest assembly) and know-how (with sure optimistic traits) rose in comparison with shares in different teams.

On Friday, June 14, 2024, the SET Index closed at 1,306.56 factors, down 1.96% from the extent on the finish of final week. In the meantime, the typical day by day buying and selling worth was 41,458.19 million baht, down 2.77% from the earlier week, the Could index fell 3.31% to shut at 355.91 factors.

For the following week (June 17-21), Kasikorn Securities Co., Ltd. seeing that the Thai inventory index has help ranges at 1,300 and 1,285 factors, whereas resistance ranges are at 1,315 and 1,325 factors, respectively. . Home political pointsand international capital administration

Vital US financial information consists of retail gross sales, industrial manufacturing. Details about dwelling constructing begins Second-hand dwelling gross sales in Could PMI index (preliminary) for June, together with the variety of folks making use of for unemployment advantages weekly. In the meantime, different international financial elements embody the June PMI index (preliminary) of the Eurozone, England and Japan. LPR rate of interest determination for June and financial information for Could. from China, equivalent to industrial manufacturing, retail gross sales, and funding in mounted belongings.

Learn the unique information at: The baht trade fee goes down in opposition to the pound Keep watch over 3 essential issues subsequent week.

Comply with the newest information each day right here.
– Web site: https://www.prachat.web