Baht Continues to Depreciate, Opening at Weakest Level in 3 Months

A money manager from the Bank of Ayudhya revealed that the baht opened the market this morning at 35.89 baht/dollar, continuing to depreciate. This is because the market closed last night at 35.82 baht/dollar after the dollar strengthened as bond yields rose. Due to factors Supported by weekly unemployment claims in the United States. Last night’s announcement came out well. The amount was lower than the market expected.

In terms of domestic factors, the direction of foreign capital movements must be looked at. Because the price of oil in the global market increased

“The baht opened the market at its weakest level in 3 months, continuing to depreciate. After the dollar strengthened against all major currencies, today the market is likely to have light transaction volume due to the Chinese New Year festival,” said a money manager.

money manager The estimated moving range of the baht today is 35.70 – 36.00 baht / dollar.

The latest SPOT is at the level of 35.97500 baht / dollar.

• Important factors

• The yen was at 149.32 ¥/dollar from 148.73 ¥/dollar last night.
• The euro was at $1.0773/euro from last night’s level of $1.0780/euro.
• Baht/dollar exchange rate The weighted average of the BoT between banks is 35.750 baht/dollar.
• The Prime Minister revealed that the government will speed up the decision to implement the digital wallet project. Next week there will be an appointment.

Faculty meeting

Member of the policy committee of the major digital wallet project

• The US Department of Labor revealed that the number of first-time applicants for unemployment benefits fell by 9,000 to 218,000 in

last week and below analysts’ estimates of 221,000.

• Investors are concerned that strong US labor data could lead the Federal Reserve (Fed) to keep interest rates as high as possible.

Time longer than expected

• Investors are watching statements from Fed officials for signs of the direction of US interest rates. by many sent feeding officers

Signs the Fed will not cut interest rates until it is confident US inflation is slowing towards the Fed’s 2% target

• The US dollar strengthened against major currencies. Trading on the New York Forex Exchange on Thursday (February 8)

After the United States revealed the number of people applying for unemployment benefits was lower than expected. This is a sign of a strong labor market. and will be a supporting factor for the central bank

The United States (Fed) kept interest rates high for longer than expected.

• New York gold futures closed lower on Thursday (February 8), with the market under pressure from the strengthening dollar and the rally.

of US bond yields Including Fed officials indicating that the Fed may not cut interest rates in the near term.

• The World Gold Council (WGC) has released a report on the outlook for the gold market for 2024 (Gold Outlook 2024), stating

The demand for gold in the world market is likely to increase in 2024 due to the geopolitical tensions in many countries.

Factors that support the strong purchasing power of gold as a safe haven asset In addition, WGC also expects that central banks around the world will continue to buy gold into the capital system.

reserves, which will be a factor supporting the price of gold

• The tense situation in the Middle East is likely to extend and it remains an issue that investors are watching closely after Mr.

Benjamin Netanyahu Prime Minister of Israel He has rejected Hamas’ truce offer. along with announcing that Israel will be victorious.

definitely from fighting in Gaza in a few months

• US President Joe Biden plans to open the White House to welcome King Abdullah of Jordan on February 12.

It was arranged to discuss the situation of fighting between Israel and Hamas in the Gaza Strip. and efforts to end the crisis

Humanity in the country

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