Bangkok Bank treasury revealed that the baht opened this morning at 34.63/68 baht/dollar, depreciating from 34.60 baht/dollar yesterday evening.
Today, the baht direction is expected to stabilize within the range. Because there are not many important factors that affect the movement of the currency. The market is only waiting to see economic data reports from the US, such as second-hand home sales in April. and the number of weekly unemployment benefits claims
Treasury managers expect the baht to move in the range of 34.55 – 34.75 baht/dollar.
THAI BAHT FIX 3M (18 May) is at 0.48532% while THAI BAHT FIX 6M is at 0.60754%.
The latest SPOT is at 34.61500 baht/dollar.
- important factor
- The yen was at 128.48 yen/dollar from yesterday evening at 129.14 yen/dollar.
- The euro was at $1.0485/euro from $1.0516 yesterday evening.
- Baht/dollar exchange rate The BOT’s interbank weighted average stood at 34.624 baht/dollar.
- The government accelerates the digital infrastructure to be attached to the wings of the Thai economy “Chaiyawut” pushes for “Digital ID-Digital Platform” to unlock drive
moving digital economy Pointing out that digital infra Thai is in good condition Ranked in many world rankings, No. 1 Mobile Banking, No. 2 Mobile Payments and
3rd place, e-commerce, expected in the year ’73, the digital economy of Thailand will account for 30% of GDP. “Huawei” indicates that the digital economy is growing rapidly in many dimensions. Strong.
Key drivers after the Covid-19 era
- “3 mobile operators” support digital to drive economic recovery “AIS” indicates that the 5G network drives huge business opportunities “DTAC” points out that Thai people
Excellent digital adaptation Reiterating its position to push the digital agenda in Thailand, “True” reveals 5 prominent technology trends that can turn business
- Bank of Thailand pointed out the toxicity of COVID-19 Severe impact on the child labor market for new graduates Worried about unemployment soaring to a hundred thousand service branch and
The worst trade
- The US Commerce Department said Homebuilding starts fell 0.2% in April to 1.724 million units.
While analysts had expected a decline of 1.765 million units, housing start-ups were hit by a surge in building material prices and
labor shortage
- The US dollar strengthened against the major currencies in trading at the New York Stock Exchange on Wednesday (May 18).
After Federal Reserve Chairman Jerome Powell insisted the Fed would not hesitate to raise interest rates as much as necessary to
extract inflation
- New York gold futures ended negative on Wednesday (May 18), with the market pressured by the dollar’s appreciation and the
Federal Reserve Chairman Jerome Powell insisted the Fed would not hesitate to raise interest rates as much as necessary to extract money.
be bloated
- Federal Reserve Chair (Fed) insists the Fed will not hesitate in raising interest rates as much as it needs to be in control.
Inflation will not escalate so severely that it damages the foundation of the economy.
- The CME Group’s FedWatch Tool indicates that investors are now weighing 100 percent that the Fed will at least raise interest rates.
0.50% at two more monetary policy meetings, in June and July. After the Fed just raised interest rates by 0.50% in May.
c. This is the largest interest rate hike in more than 20 years.
- The US Treasury Secretary said the US economy could cope with the effects of the war between Russia and Ukraine.
- The Organizing Committee of the World Economic Forum (WEF) has released a statement saying the WEF will hold its annual meeting at
Davos, Switzerland, on May 22-26, which will be the first face-to-face meeting in two years after the postponement
The meeting was previously held on Jan. 17-21 amid concerns about the spread of the COVID-19 virus. Omicron species
- Goldman analyst Sachs has cut China’s gross domestic product (GDP) growth forecast to
4% in 2022, well below the Chinese government’s target of 5.5%, after April data showed Chinese economy slows down
heavily due to the use of lockdown measures to control the spread of COVID-19 has affected business activities
- Key US economic data released today include weekly unemployment claims, manufacturing index for May.
From the Philadelphia Fed, April second-hand home sales. and April’s leading economic index from the Conference Board (Conference
Board)
